Hering registers high 4.2% in net income for the quarter

SAO PAULO-the clothing retailer Hering recorded net income of r $ 88.8 million in the second quarter, al ta of 4.2% compared to a year earlier. In the same comparison, the company's net revenue rose 13.8%, to R $ 435 million.
The company was above the expectations of analysts heard by value. On average, Votorantim, Brazil, JP Morgan and HSBC projected 4.5% drop in net profits.
Same-store sales fell 1.2% on a year earlier, below the low one-digit growth predicted by analysts.
Earnings before interest, taxes, depreciation and amortization (Ebitda) rose 6% to r $ 116,65 million, with indentation of 2 percentage points in the margin, in line with forecasts.
In their report of performance, Hering said that "after a first half of resumption in growth, the company starts the second half evaluating the potential impacts of the recent volatility in the f inancial macro scenario".
However, the company reaffirms its goal to open 77 stores Hering and Hering Kids stores in the year 30.