Home / Knowledge / News / Apparel/Garments / Robust domestic demand lifts Cia Hering's Q3 sales
Robust domestic demand lifts Cia Hering's Q3 sales
24
Jan '14
Driven by robust sales numbers, Brazil’s Cia Hering, which is engaged in the fashion industry, witnessed a healthy rise in net profit in the third quarter of 2013.
 
The company, which is one of the largest retail and apparel designers and manufacturers in Brazil, reported a consolidated rise of 12 per cent in gross revenue at R$ 435 million in Q3 2013 from R$ 388 million in the same period a year ago driven by higher revenues from domestic and foreign markets.
 
Revenue from domestic markets on a consolidated basis grew by 12.1 per cent to R$ 427 million in Q3 2013 from R$ 380 million in the same period a year ago aided by healthy performance from all its major brands.
 
The company’s major brand Hering witnessed a 10.7 per cent rise in consolidated sales at R$ 309 million in Q3 2013 from the same period a year ago driven by strong performance in the multi-brand channel.
 
Gross sales of the Hering Kids brand rose by 36.5 per cent, year on year at R$ 46 million in Q3 2013.
 
Gross revenue from overseas markets on a consolidated basis grew by 5.3 per cent, year on year in the third quarter of 2013.
 
The company posted net revenue growth of 11.4 per cent at R$ 361 million in Q3 2013 from R$ 323 million in the same period a year ago.
 
In the backdrop of higher revenue, Cia Hering posted a consolidated net profit of R$ 58.2 million in Q3 2013, up by 6.7 per cent from R$ 54.6 million in the same period a year ago.
 

Fibre2fashion News Desk - India


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