Restoque reported revenue of 278.6 million Brazilian real in the third quarter, growth of 54.9 percent against the third quarter of 2020 and 2.5 percent compared to Q319.
In the nine month period revenue was 113.8 million Brazilian real, up 94.5 percent compared to the same period in 2020 and up 256.2 percent against 2019.
The company’s b2b channel had a growth of 42 percent against Q320 and 119.9 percent against Q319. The b2c channel had a growth of 57.1 percent compared to Q320 and was aligned with Q319, while same-store-sales growth was 66 percent compared to Q320 and 9 percent against Q319.
Review of Restoque’s Q3 results
The company said in a statement that since the second semester of 2019, Restoque adopted the strategy of increasing the full-price sales, with a reduction of the inventory leftovers level at the end of collections. in this regard, the outlet store base with the Estoque flag was reduced in urban areas to focus operations on outlet malls in the country’s highways, where consumers are specifically seeking for products with discounts.
Consequently, the revenue for the outlet channel was reduced and there was a prioritization of revenue in full-price sales channels. The sales in the outlet channels decreased by 45 percent in relation to Q319 and remained in the same sales level as Q320. Excluding the sales of the outlet channel, the company profited 246.8 million Brazilian real, a growth of 66.4 percent against Q320 and 15.3 percent compared to Q319.
The company’s digital operations of the b2c channel reached 33.8 million Brazilian real, a growth of 42.1 percent compared to Q320 and 168 percent against Q319.
The ship-from-store modality reached a sales revenue of 13.2 million Brazilian real, growth of 31.5 percent compared to Q320 and 126.3 percent versus Q319.
In the third quarter, Restoque recorded an ebitda of 30.9 million Brazilian real, surpassing Q320 in 40 million Brazilian real and Q319 in 10.7 million Brazilian real.