Hering Registers 29.2% high net income

The fashion retailer surged 29.2% of Hering in net income for the first quarter of the year to R$ 37,800,000, if compared to the same period in 2016. According to the brand, the result was driven by sales growth, gross margin gain and improve the financial result. Net sales totaled R$ 328,500,000 from January to March, an increase of 4.5%. With cost reduction, due to the standardization of inventory, the gross profit advanced 13.4%, the R$ 135,200,000. Gross margin was 41.4% increase of 3.2 percentage points. Multi-brand sales had already increased 3.5%, totaling R$ 171,400,000.
Franchises in franchise sales reached Crisis R$ 128,200,000, fall of 5.6%, due to the decrease of 18 stores in the last 12 months and by less orders fall collection. Sales of stores advanced 19.1% favored by adding liquid from 6 stores in 12 months. In the first quarter, the Hering 13 stores, of which closed 11 Hering and 2 PUC, predominantly located in the Southeast and Northeast, all operated by fraqueados.