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Cia Hering has sales drop in the 4th quarter

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Cia Hering has sales drop in the 4th quarter

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Hering store (Photo: Disclosure)

On Monday (01/20), Cia Hering released a 5.2% drop in gross revenue for the fourth quarter over the same period in 2018, to R $ 502.9 million, impacted by a "hangover" above expected in sales after Black Friday.

The company that had been registering high in same store sales in the last seven quarters, had fall of 4% in the item in the last three months of last year.

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"The fourth quarter was marked by positive sales performance in October and November … This positive performance influenced the performance below expectations in December," said Cia Hering in an operational report.

"The hangover of sales after Black Friday was already expected due to the anticipation of part of purchases, however this movement extended even after the second half of December," said the company, citing that 60% of sales in the fourth quarter usually occur in December.

Hering brand sales dropped 5% in the period, to 382.5 million reais, while PUC's revenue fell 32.7%. Hering Kids and Dzarm grew by 0.7% and 7.1%.

Sales of the company's own stores decreased by 1.9% in the period, "despite an increase in flow in stores". Franchise sales fell 5.2%, with 13 stores closed net in the last 12 months. In the multi-brand channel, the drop in sales was 13% "due to the lower number of customers".

(By Alberto Alerigi Jr.)

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(tagsToTranslate) Consumption (t) Hering (t) balance

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