Driven by robust growth of its brand John John, Brazil’s premium fashion retailer the Restoque and Trade Clothing, Clothes SA or Restoque, witnessed a healthy rise in sales revenue in the third quarter of 2013.
The company, which is also famous for its other fashion brands such as Le Lis Blanc reported a 6.4 per cent rise in net revenue at USD 160.8 million in the three months ended 30 September 2013 from USD 151.1 million in the same period a year ago.
Gross revenue from own stores rose 3.2 per cent to USD 190.7 million in Q3 2013 from the same period a year ago while gross sales from multibrand stores climbed 4.9 per cent at USD 28 million in the same period.
Further, revenue from other channels such as outlets, private clubs online and Bazaars and internet sales surged by a whopping 81.3 per cent in Q3 2013, year on year, amidst an expansion in the network of the company’s outlets and growth of e-commerce operations.
Sales from the company’s John John brand surged by 115.6 per cent to USD 26.8 million in the third quarter of 2013 from USD 12.5 million in the same period a year ago.
The company’s Le Lis Blanc and Noir, Le Lis brand witnessed a drop of 2.6 per cent in net sales at USD 105.5 million in Q3 2013 from the same period a year ago while Restoque’s Bo.Bô brand’s sales dipped by 19.4 per cent to USD 19.8 million in the same period.
Amidst high depreciation and amortization expenses, the company swung to a loss of USD 1 million in Q3 2013, compared to a profit of USD 3.5 million in the third quarter of 2012.