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Restoque swings to loss in Q3

Restoque Comércio e Confecções de Roupas S.A. said its normalized net income for the third quarter came to a loss of 24.0 million reais, compared with income of 96,250 reais in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to negative 8.5% from 0.1% in the year-earlier period.

Total revenue increased 58.6% year over year to 282.5 million reais from 178.1 million reais, and total operating expenses grew 71.7% from the prior-year period to 261.9 million reais from 152.6 million reais.

Reported net income totaled a loss of 22.7 million reais, or a loss of 48 centavos per share, compared to income of 117,000 reais, or 1 centavos per share, in the year-earlier period.

As of Nov. 12, US$1 was equivalent to 3.79 reais.