Home / Knowledge / News / Apparel/Garments / Same Store sales growing 9.8% in Q2 - Lojas Renner
Same Store sales growing 9.8% in Q2 - Lojas Renner
18
Aug '11
LOJAS RENNER S.A. the second largest apparel department store in Brazil announces its second quarter (2Q11) and first semester results for 2011 (1S11).

The second quarter of the year was again a positive one for retailing and sales were up by 19.0% in the period, accumulating a six months growth of 18.4%. The trend in Net Revenue from Merchandise Sales is indicative of the continuing vigor of the Brazilian economy, combined with the satisfactory performances achieved on Mothers and Valentine Days. Specifically at Renner, low temperatures and the consumer acceptance of the fall-winter collections were also instrumental in the results reported, with Same Store Sales growing 9.8% in 2Q11 and 10.4% in 1S11.

Notwithstanding cost pressures from high cotton prices and the consolidation of Camicado, the Gross Margin from the Retail Operation was stable at 53.9% in 2Q11 and slightly less in the first six months of the year, with a reduction of only 0.1 p.p. at 53.5%. Specifically at Renner, the larger volume of imported items and also the low winter temperatures for May and June in the South and the Southeast regions made a positive contribution, the Company posting an increased Gross Margin of 0.3 p.p. in 2Q11 and 0.1p.p. for 1S11 as a whole.

Results from Financial Services were equally positive, growing 30.0% in 2Q11 and totaling R$ 32.1 million. Delinquency remained low at 3.0% of Net Revenue from Merchandise Sales, and the participation of the Renner Card was 55.2% in 2Q11. For the accumulated six-month period, the Financial Services division posted a result of R$ 70.6 million, with delinquency levels at 2.8%.

During the period between January and June and in line with initial forecasts, Renner opened 10 stores – both traditional and compact models as well as the first Blue Steel store, which will serve as a test run to gauge the potential for creating a specialty store network. A further 21 Renner store rollouts are scheduled by the year-end together with two more Blue Steel prototypes.

The consolidation and integration of Camicado is running to the original plan and Management remains confident of the opportunities presented by this new business. A further three Camicado stores are to be inaugurated during the current year.

Click here to read more details

Lojas Renner S.A


Must ReadView All

May 31 deadline for registration of chemicals under REACH

Textiles | On 23rd May 2018

May 31 deadline for registration of chemicals under REACH

May 31 is the final deadline for companies to register all chemicals...

IOC, MCPI to set up ₹1000 cr PSF unit in Odisha

Textiles | On 23rd May 2018

IOC, MCPI to set up ₹1000 cr PSF unit in Odisha

Indian Oil Corporation (IOC) has teamed up with Materials Chemicals...

Pakistan's textile exports up 8.13% in July-April FY18

Textiles | On 23rd May 2018

Pakistan's textile exports up 8.13% in July-April FY18

The value of textile and garment exports from Pakistan increased by...

Interviews View All

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Paolo Crespi

For.Tex is an Italy-based leading producer of dyes and thickeners, and is...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search