Arezzo&Co Announces 2Q20 Results
São Paulo, August 13, 2020 – Arezzo&Co (ARZZ3), Brazil’s women’s footwear, handbags and, accessories industry leader announces its 2Q20 results.
Click here, to access the Earnings Release.
- Adjusted Net Revenue reached R$175.9 million in 2Q20, equivalent to 44.7% of the 2Q19 figure;
- Record growth of 200.3% in web commerce (revenue of R$148.7 million), representing 71.8% of the Company’s domestic revenues in the quarter;
- Adjusted EBITDA amounted to R$5.6 million in 2Q20 (EBITDA margin of 3.2%);
- SSS (Same-Store-Sales) sell-out was equivalent to 49.5% of the 2019 results, due to temporary store closures prompted by the COVID-19 pandemic;
- Cash position totaled R$565.6 million on June 30;
Note: these are adjusted results, excluding the amount of R$77.7 million from one-offs, to be detailed ahead.