Lojas Renner records 90.2% growth in net income for Q2
30 Jul '10
4 min read
Store productivity is also worthy of mention, with Net Revenue per m2 presenting a growth of 5.8% from R$ 2,321 per m2 to R$ 2,455 per m2 in 2Q10 and from R$ 3,915 per m2 to R$ 4,221 per m2 in 1S10.
In the period from January to June, Lojas Renner unveiled five stores, one in the South, another in the Northeast and three in the Southeast region of Brazil with the Company reporting a sales area of 259.4 thousand m2 distributed across 125 stores at the end of 2Q10. Special mention should be made here of the Avenida Paulista store in the city of São Paulo which has been posting positive results, underlining Renner's continued interest in also expanding the stand-alone model of store. New store roll-outs demanded investments of R$ 23.1 million. The opening of a further nine stores is planned before the year-end, including compact model pilot operations.
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