Restoque net revenues rise 6.4 percent in Q3

REPORT_ Restoque reported that its net revenues in the third

quarter increased 6.4 percent and its EBITDA was at up 38.0 percent on year-on-year basis, whereas EBITDA margin was 20.1 percent, up 460 bp.

Gross margin in the company’s main distribution channels in the thrid quarter of 2013 including company stores, multi-brand stores and online sales of the brands was 72.6 percent, in line with its level in the same quarter last year. However, to reduce inventory of past collection built up over the year of 2012 company increased its discount operation mainly through the opening of new outlet stores in the new shopping malls and through the startup of its on-line outlet resulting in its gross margin decreasing to 12.7 percent, compared to 30.4 percent in the third quarter last year.

In the third quarter, company inaugurated five company stores under the Le Lis Blanc brand, three company stores under the John John brand, one company store under the Bo.Bô brand, five corners of the Noir, Le Lis brand in Le Lis Blanc stores and one company multi-brand store. Its gross revenues were 7.0 percent more compared to last year. The year-on-year increase mainly reflects the increase of sales through e-commerce and outlets (other channels), which were respectively 131.6 percent and 74.3 percent higher in the quarter. Restoque is a designer and specialty retailer of women’s premium fashion apparel and accessories in Brazil.