Retailer Restoque has R$ 24.2 million loss in first quarter

The fashion retailer Restoque, owner of the Le Lis Blanc marks, Dudalina, Bo.bô, John John and Rosa Cha, closed the first quarter with net loss of 24.2 million R$, compared to net income of $ 15 million in the same period last year.
Net sales fell to 16% from January to March, to 248.6 million R$. According to the company, the performance was hampered by the low level of receiving products in the previous quarter, the fall of launches and increasing promotions.
The liquidation sale rose from 40.3% of the network to 46.8%, and the average discount has also grown, what improved swivel goods but did gross margin indent 6.1 percentage points compared to the previous year, to 52.9%. In March, the first month after the liquidations, gross margin grew by 1.3 percentage point, according to the company.
The recipe in Le Lis Blanc retreated 24.1% in the quarter, to 92.4 million R$. In Dudalina, sales fell 20.9%, to R$ million, and 79.3 Bo.bô decreased 16.2%, to R $ 18 million. In John John revenue shrank 1.9%, to R $ 30 million. The Rosa Cha was the only one to present positive performance, with growth of 23.6% to 9.4 million R$.
For the quarter, sales at the same stores concept (open units for more than 12 months) had a fall of 15.6%, compared to 2.5% decline a year earlier. The average ticket decreased 12.1%, to R$ 431.
The earnings before interest, taxes, depreciation and amortization (Ebitda) fell 50% to 38.3 million R$. The Ebitda margin reached 15.4%, falling 10.5 percentage points.