Guararapes Confecções SA Announces Consolidated Earnings Results for the Second Quarter and First Half of 2020
August 09, 2020
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Guararapes Confecções SA announced consolidated earnings results for the second quarter and first half of 2020. For the quarter, the company's net revenue decreased 52.4% compared to the same period in 2019, reaching BRL 885.9 million in the quarter. Net loss totaled BRL 296.2 million, a reduction of 639.6%. In the year, the decrease was 508.2%, totaling a loss of BRL 343.8 million.
For the first half, the company's net revenue totaled BRL 2,510.6 million, a decrease of 27.9%.
Guararapes Confeccoes SA is a Brazil-based company primarily engaged in the fashion industry. The Company is involved in the manufacture, wholesale, retail and export of clothing and fabrics, as well as in the import and wholesale of footwear, bath and table linens, perfumes and cosmetics, among others. The Company's activities are divided into three business segments: Retail, which focuses on selling apparel and other goods through stores network under the Lojas Riachuelo brand name; Finance, which offers consumer loans granted through credit cards, and Other, which includes commercial real estate rental and management, as well as road trucking, among others. The Company operates through a number of subsidiaries, such as Lojas Riachuelo SA, Midway Shopping Center Ltda, Midway SA - Credito Financiamento e Investimento and Transportadora Casa Verde Ltda.
GUARARAPES CONFECÇÕES S.A. 
