Profit from Guararapes 40.5% in the first quarter falls to r $ 30.1 million

Network controller of apparel retailers Riachuelo, the Guararapes recorded profit of $ 30.1 million in the first quarter, down 40.5% compared to a year earlier. In the same comparison, the company's net revenue grew 11.4%, to R $ 744,8 million.
On the criterion "same stores", sales advanced 5.1 percent. In its performance report, the company reported that designs best performance "same store sales in the second quarter, since the performance of April to early May was higher than that of the first three months of the year.
Before interest and taxes, the company's profit fell 34.6%, to $ 43, 27 million.
There was low growth — of just 2.4%--in the recipe of Midway (financial). In parallel, the allowance for doubtful accounts advanced 24.6%, to $ 41 million.
In the end, the Midway's net profit dropped from 24.6% to r $ 25,8 million.
Disregarding the financial operation, the Guararapes merchandise gross margin increased by 2.3 percentage points to 53.4%. The company provides for expansion of this indicator continuity compared to the previous year, but lower than the pace registered in the first quarter ".