Home / Knowledge / News / Apparel/Garments / Brazilian retailer Lojas clocks 15.5% hike in Q3 sales
Brazilian retailer Lojas clocks 15.5% hike in Q3 sales
28
Oct '14
The biggest Brazilian fashion retailer - Lojas Renner S.A. reported a 15.5% year-on-year hike in third quarter ending September 30, 2014, sales.

Lojas Renner said third quarter revenue surged to R$ 1,047.1 million, up 15.5% from the prior year quarter, driven by good sales of its S/S collections and also excellent response on Father’s Day.

Similarly, same store sales registered a growth of 7.5% year-on-year in the reporting quarter, which the fashion retailer attributed to recovery in sales at its recently modernized stores.

Lojas Renner said it again surpassed the IBGE’s Monthly Survey of Trade indices in the third quarter of 2014, based on figures already announced up to August.

Third quarter of 2014 gross profit ascended 20.1% from a year ago quarter to R$ 545.7 million, while retail gross margins reached 52.1%, up from 50.1% in the same quarter of 2013.

“Gross margins benefited from appropriate inventory management as well as lower markdown levels of the winter collection,” Lojas Renner explained.

Selling expenses touched R$ 287.3 million in the quarter under review or 27.4% of revenue compared to 27.5% in third quarter of 2013.

In the same quarter, general and administrative expenses stood at R$ 98.8 million or 9.4% of sales and also down from 9.5% of revenue it recorded in the third quarter of 2013.

Renner’s net income totalled to R$ 83.4 million, a surge of 16.4% from the prior year quarter, while net margin stood at 8.0% against 7.9% in the same quarter of 2013.

Adjusted EBITDA from retailing operation reached R$ 142.6 million in the reporting quarter, a year-on-year improvement of 30.2%.

Adjusted EBITDA margin stood at 13.6% in the quarter under review versus 12.1% in the corresponding quarter of 2013.

According to Lojas Renner, improvement in EBITDA margins reflects a combination of good sales performance with an increased gross margin and good expense management.

Commenting on the results, the retailer informed, “All these results were accomplished against a background of high investments, contributing to Renner’s competitiveness in a longer term.”

During the quarter, Lojas Renner unveiled 10 new stores, four of them under the Renner name and three each under Camicado and Youcom and invested R$ 131.6 million in them. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Philippine Information Agency

Apparel/Garments | On 29th Jul 2017

Philippines govt issues guidelines for garment firms

The Department of Trade & Industry-Board of Investments (DTI-BOI) and ...

Textiles | On 29th Jul 2017

Bangladesh govt takes 8 jute mills back from private firms

The Bangladesh government has taken 8 jute and textile mills back...

Textiles | On 29th Jul 2017

Textile machinery orders grow in second quarter: ACIMIT

ACIMIT, the Association of Italian Textile Machinery Manufacturers...

Interviews View All

Headhonchos
Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Kai Poehler
Voith Paper GmbH & Co. KG

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

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

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

July 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
61.1%
No
22.2%
Skip
16.7%

Total Votes: 18

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
33.3%
No
44.4%
Skip
22.2%

Total Votes: 18

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
83.3%
No
5.6%
Skip
11.1%

Total Votes: 18

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
50.0%
No
11.1%
Skip
38.9%

Total Votes: 18


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X