SAO PAULO (Reuters)-Vivara should dedicate 90% of the opening of new stores this year over the “Life” brand, where he sees the biggest growth opportunities for the jewelry group, executives said on Wednesday.
The company predicted the night of the day before 40 and 50 new stores this year, reducing the rhythm against the approximately 70 openings of the previous year.
“Most new stores this year will be life because we have more opportunities … there are many more malls in Brazil that behave Life,” said Vivara’s director of finance, Elias Lima, in a conference with analysts, referring to the brand of the group that works more with silver -based products and lower prices than Vivara stores.
“But we have been proactively approached by mall companies wanting to have Vivara.
Itaú BBA analysts stated that this year’s opening target of stores “is a common denominator” among retailers in the midst of the high interest rate. “We found it reasonable for the company to prioritize sales growth in current stores instead of aggressive expansion, especially considering the weaker quarter -quarter sales trends,” analysts cited a report.
Vivara’s shares led the Ibovespa highs earlier this afternoon, advancing more than 8.5% at 13h, while the rate showed a gain of 0.6%.
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Asked about the performance of new product collections provided by the company in January, the post-executive president of the jewelry network, Icaro Borrello, said the company has seen “a growing trend over the first quarter and we have projected a solid result from the point of view of ‘Top Line’ (Revenue).
According to him, it was “clear that we needed the portfolio update.”
Borrello quoted that the company has “accompanied monthly” the variations in gold quotes to better precet the products, which in the case of Vivara were “a little behind the quote.”
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In this front, the chief financial officer stated that Vivara bought in the first quarter an average of less than 60 kilos of gold per month, below the volume purchased last year, and that the company does not intend to raise purchases throughout the year as a way to facilitate the gradual reduction of stocks.
