Arezzo&Co announces its 3Q20 results
São Paulo, November 12, 2020 – Arezzo&Co (ARZZ3), Brazil’s women’s footwear, handbags and, accessories industry leader announces its 3Q20 results.
Click here, to access the Earnings Release.
- Gross Revenue in 3Q20 reached R$525.4 million, down by 2.4% versus 3Q19;
- Growth of 172.2% in web commerce (revenue of R$151.4 million), representing 32.7% of the company’s domestic revenues in the quarter;
- EBITDA amounted to R$63.1 million in 3Q20 (EBITDA margin of 15.2%);
- Arezzo&Co’s POS network (Owned Stores + Franchises + Web Commerce) was equivalent to 81.9% of the sell out recorded in 3Q19, attesting to a performance recovery after the stores reopened;
- The North American operation posted positive EBITDA of R$6.0 million, with gross revenue growth of 4.0% in BRL;
- Total cash position of R$566.2 million on September 30, with net cash of R$19.0 million.