Home / Knowledge / News / Apparel/Garments / Lojas Renner Merchandise unit registers 23.6% growth
Lojas Renner Merchandise unit registers 23.6% growth
30
Apr '08
LOJAS RENNER S.A., one of the three largest apparel department store chains in Brazil, announces its results for the first quarter 2008 (1Q08). Except where indicated to the contrary, the following financial and operating information is consolidated according to Brazilian Corporate Law and comparisons refer to the first quarter of 2007 (1Q07).

Given the relevance of the revenue generated from financial services as a result of the growth in these operations and the alignment of the financial statements to international accounting practices, as from December 2007, the Company has begun to include revenues from financial services in Gross Operating Sales Revenue.

Highlights:
The Company's total Net Revenues posted growth of 24.2%, increasing from R$ 347.6 million in 1Q07 to R$ 431.8 million in 1Q08.

Net Revenues from Merchandise Sales reported growth of 23.6% from R$ 310.3 million in 1Q07 to R$ 383.4 million in 1Q08. Same Store Sales recorded an 11.5% improvement over the same period.

Gross Profit from Merchandise Sales were R$ 183.6 million in 1Q08 and Gross Margin showed a growth of 1.4 percentage points from 46.5% to 47.9% in 1Q08, due to improved processing in procurement and inventory management.

EBITDA registered an increase of 42.6% reaching R$ 55.4 million in 1Q08, with the EBITDA Margin as a percentage of Net Revenues from Merchandise Sales at 14.5% in the quarter versus 12.5% in 1Q07.

Capital Expenditures in Fixed Assets in 1Q08 amounted to R$ 18.1 million.

Must ReadView All

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Pakistan's Finance Minister Mohammad Ishaq Dar presenting Budget 2017-18 in National Assembly in Islamabad on May 26. Courtesy: PID, Pakistan

Textiles | On 27th May 2017

Pakistan Budget 2017-18 proposes 4 new measures

To support the textile sector in Pakistan, finance minister Mohammad...

Textiles | On 27th May 2017

Indian exports can touch $325 bn in 2017-18: FIEO

Indian exports are on upward trend in last few months as the country...

Interviews View All

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Larry L Kinn
Suominen Corporation

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

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


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