Netshoes Cuts Loss in Q1
The Brazilian Zappos had a loss of BRL37.7 million ($12.1 mm) this year compared to a loss of BRL61.6 million last year on a 14% increase in sales to BRL396.2 million ($126.7 mm) from BRL347.9 million for Q1 ended Mar. 31, its first report as a U.S.-traded stock. Sales inside its home Brazil market rose 17% to BRL355.5 million while international sales declined 9% to BRL40.7 million. Sales of its sporting goods site were up 19% but weren’t specified, while sales of its fashion products doubled. The market responded by bidding ... Log in to view full article.