Arezzo&Co Announces 4Q13 and 2013 results

Arezzo&Co (BM&FBOVESPA: ARZZ3), Brazil’s women’s footwear, handbags and accessories industry leader, is reporting its earnings for the 4th quarter and 2013

• In 2013, net revenue reached R$963.0 million, an increase of 11.9%. Net revenue for 4Q13 reached R$257.6 million, 1.9% higher than in 4Q12;
• Gross margin was 44.2% in 2013, an expansion of 50 bps against 2012. The Company’s gross margin in 4Q13 reached 44.3%, in line with the margin for 4Q12;
• EBITDA amounted to R$159.5 million in 2013, a growth of 17.5% for the year. Excluding the non-recurring effect for 1Q12, EBITDA would have grown by 10.9%. EBITDA for 4Q13 amounted to R$43.6 million, a reduction of 0.5% compared to 4Q12, with a margin of 16.9%;
• Net income reached R$110.6 million in 2013, representing a growth of 14.1%. Net income for 4Q13 was R$32.7 million, a growth of 3.4% when comparing with 4Q12;
• In this quarter, Arezzo&Co opened 29 stores and expanded 4 stores, fulfilling its commitment to open 59 stores in 2013, growing 20.0% in sales area over the last 12 months.
Click here to access the Earnings Release