Restoque’s restructuring strategy impacts Q3 sales growth

Third quarter revenues at Restoque Comércio e Confecções de Roupas S.A. totalled 271.9 million Brazilian real (64.8 million dollars), down 3.4 percent, which the company said were impacted by the actions taken by the company to eliminate channel conflicts and reinforce the positioning of its brands, strengthening the foundations for sustainable growth. With its store base at 255 stores, the company’s same store sales decreased by 20.9 percent. Gross profit in was 133.2 million Brazilian real (31.7 million dollars), down 30.4 percent, with a gross margin of 62.8 percent, improvement of 1.9 pp, and in the year to date the company reached a gross margin of 64.7 percent, up 0.8 pp.