Lojas Renner Merchandise sales records an increase of 14.8%

14 Aug '08

2 min read

LOJAS RENNER S.A. the second largest apparel department store chain in Brazil,announces its results for the 2Q08 and 1H08.

HIGHLIGHTS:
- The Company's total Net Revenues reported growth of 15.5%, increasing from R$ 490.9 million in 2Q07 to R$ 566.7 million in 2Q08. In 1H08, total Net Revenues were R$ 998.5 million, 19.1% higher than the R$ 838.4 million posted in the same period in 2007.

- Net Revenues from Merchandise Sales recorded an increase of 14.8%, from R$ 444.4 million in 2Q07 to R$ 510.3 million in 2Q08. In 1H08 it reached R$ 893.6 million, an improvement of 18.4% versus the same period in 2007. Same Store Sales registered growth of 5.4% in 2Q08 and 7.9% in 1H08.

- Gross Profit from Merchandise Sales was R$ 242.3 million in 2Q08 and Gross Margin from Retail Operations was 47.5% versus 46.3% in 2Q07. In 1H08, Gross Profit was R$ 425.9 million with a Gross Margin of 47.7%.

- EBITDA registered an increase of 15.1%, reaching R$ 87.1 million in 2Q08. The EBITDA Margin reached 17.1% in the quarter versus 17.0% in 2Q07. In 1H08, EBITDA reached R$ 142.5 million, 24.4% more than the 1H07. The EBITDA Margin in 1H08 was 16.0% versus 15.2% in 1H07.

- The Renner Card accounted for 64.6% of 2Q08 sales and the Company has now issued a total of 12.7 million cards with the average purchase reaching R$ 117.30 in 2Q08 and R$ 110.35 in 1H08.

Lojas Renner S.A.

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