Arezzo&Co Announces 1Q20 Results
São Paulo, May 27, 2020 – Arezzo&Co (ARZZ3), Brazil’s women’s footwear, handbags, and accessories industry leader announces its 1Q20 results.
Click here, to access the Earnings Release.
- Net Revenue in 1Q20 reached R$ 375.5 million, a 0,4% decrease against 1Q19;
- Record growth of 53.9% in the web commerce channel, representing 15,9% of the Company’s domestic revenues;
- In 1Q20, Gross Profit totaled R$ 172.4 million (gross margin of 45.9%), a 20bps increase;
- EBITDA for 1Q20 totaled R$ 64.3 million (EBITDA margin of 17.1%), a 17.8% increase against 1Q19;
- In 1Q20, Net Income totaled R$ 25.9 million (net margin of 6.9%), an 11.9% increase;
- Same-Store-Sales sell out decrease of 10.6% in the quarter, due to temporary stores closure caused by the COVID-19 pandemic in March;
- Cash position of R$ 619.2 million on March 31.
* Information above include Vans® brand licensing operation