Brazilian cosmetics maker Natura on Wednesday reported preliminary second-quarter consolidated net revenue between 5.1 billion reais and 5.2 billion reais ($1.01 billion), down 9% to 10% from a year earlier.
Challenges in Brazil
Natura said in a securities filing that subdued consumption in Brazil and internal operational challenges had pressured the top line in the country “in a greater magnitude than initially anticipated” in the second quarter.
Despite the sales decline, Natura said it expected reported margin on earnings before interest, tax, depreciation and amortisation to rise from the first quarter, helped by lower severance expenses and efficiencies from its new operating model.
The company said it is taking measures to restore growth in Brazil, including supply-chain adjustments, sales-force changes, expansion of digital sales channels and an acceleration in franchise store openings.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
