Restoque swings to Q2 loss

Restoque, owner of the brands Le Lis Blanc, Dudalina and Rosa Cha, reported a net loss of 94.5 million Brazilian real (17.4 million dollars) against a profit of 55.2 million Brazilian dollars profit a year earlier. The company attributed the reasons behind net loss to the negative effects of Covid-19 pandemic on the retail sector.

The company also said in a statement that adjusted Ebitda for the second quarter also decreased to 18.4 million Brazilian real (3.3 million dollars) compared to a positive balance of 139.4 million Brazilian real in the same quarter of the previous year.

“As a result of the coronavirus pandemic, sales in 2Q20 were strongly impacted, with a loss of 82.2 percent, compared to the same quarter last year,” the company said in the announcement of the quarterly balance sheet.

Restoque added that the retail and wholesale channels were strongly impacted by store closures due to coronavirus pandemic with the revenues declining by 88.4 percent and 87.6 percent, respectively. The company’s net sales decreased 81.5 percent in the second quarter, in the annual comparison, totalling 45.1 million Brazilian real (8.3 million dollars) and 244.9 million Brazilian real (45.1 million dollars), respectively.

Picture:Facebook/Le Lis Blanc