Veste’s adjusted profit grows faster than revenue

The profit gain came with a wider margin. According to FashionUnited, Veste recorded adjusted net income of 15.3 million Brazilian reais on consolidated adjusted net revenue of 326.2 million Brazilian reais. Its adjusted net margin reached 4.7 percent, an increase of 1.7 percentage points.

E-commerce grew faster than the wider business-to-consumer channel. FashionUnited reports that e-commerce revenue in that channel reached 82.2 million Brazilian reais, up 14.9 percent year-over-year. Total business-to-consumer sales increased 4.6 percent to 278.2 million Brazilian reais, while business-to-business revenue fell 5.4 percent to 80.2 million Brazilian reais.

FashionUnited puts Veste’s store count at 195 at the close of the third quarter: 172 company-owned stores and 23 franchises.