Brazil’s Natura posts $108 million quarterly loss as inflation bites

This post was originally published on this site

A year earlier, Natura had posted a profit of 272.9 million reais.

Chief Executive Fabio Barbosa said the company’s results had landed in line with forecasts, despite a quarter marked by higher inflation, lower discretionary spending and negative currency impacts.

For the third quarter, Natura posted net revenues down 5.7% to 9 billion reais, dragged by falling sales at its Avon International and The Body Shop brands.

The company’s cash generation as measured by its core earnings meanwhile fell 38% to 589.5 million reais.

($1 = 5.1864 reais)