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Lojas Renner announces Q2 2007 sales results
03 Aug '07
2 min read
LOJAS RENNER S.A, one of the three largest apparel department store chains in Brazil, announces its results for the second quarter 2007 and the accumulated first six months of the year.
Except where indicated to the contrary, the following financial and operating information is consolidated according to Brazilian Corporate Law while the comparisons refer to the second quarter (2Q06) and the first semester (1S06) of 2006.
Highlights of Second Quarter 2007:
• Net Sales reported a growth of 24.2%, increasing from R$ 357.7 million in 2Q06 to R$ 444.4 million in 2Q07. Same store sales recorded a growth of 9.6% in the same period.
• Gross Profit reached R$ 205.8 million in 2Q07 and Gross Margin was 46.3%. EBITDA1 posted an increase of 49.7% and reached R$ 75.7million in 2Q07, with an EBITDA Margin of 17.0% in the quarter.
• Investments in Fixed Assets in 2Q07 amounted to R$ 24.2 million. Of this amount, R$ 17.0 million was allocated to the conclusion of the 6 new stores opened during the 2Q07. Resources were also invested to the remodeling of existing installations and the modernization of IT systems and hardware. In late July, a new Distribution Center was also inaugurated in Palhoca – SC, replacing the existing operation in Porto Alegre RS.
• The Renner Card accounted for 69.0% of total sales reported in 2Q07. The Company has now issued a total of 11.0 million store cards, the average ticket being R$ 111.13 against R$ 108.01 registered in 2Q06. Credit sales financed through the 0+8 interest bearing installment plan, represented 13.3% of total Company sales, against 12.7% in 2Q06.
• On June 30 2007, the Company commemorated its second year as a Corporation and listing on Bovespa's Novo Mercado, contributing not only to the expansion of Lojas Renner, but also to the development of the Brazilian capital markets. In addition, Lojas Renner also celebrated 40 years as a listed company, having been one of the pioneers in the South of Brazil in obtaining a stock exchange listing.
Click here to view more results:
Except where indicated to the contrary, the following financial and operating information is consolidated according to Brazilian Corporate Law while the comparisons refer to the second quarter (2Q06) and the first semester (1S06) of 2006.
Highlights of Second Quarter 2007:
• Net Sales reported a growth of 24.2%, increasing from R$ 357.7 million in 2Q06 to R$ 444.4 million in 2Q07. Same store sales recorded a growth of 9.6% in the same period.
• Gross Profit reached R$ 205.8 million in 2Q07 and Gross Margin was 46.3%. EBITDA1 posted an increase of 49.7% and reached R$ 75.7million in 2Q07, with an EBITDA Margin of 17.0% in the quarter.
• Investments in Fixed Assets in 2Q07 amounted to R$ 24.2 million. Of this amount, R$ 17.0 million was allocated to the conclusion of the 6 new stores opened during the 2Q07. Resources were also invested to the remodeling of existing installations and the modernization of IT systems and hardware. In late July, a new Distribution Center was also inaugurated in Palhoca – SC, replacing the existing operation in Porto Alegre RS.
• The Renner Card accounted for 69.0% of total sales reported in 2Q07. The Company has now issued a total of 11.0 million store cards, the average ticket being R$ 111.13 against R$ 108.01 registered in 2Q06. Credit sales financed through the 0+8 interest bearing installment plan, represented 13.3% of total Company sales, against 12.7% in 2Q06.
• On June 30 2007, the Company commemorated its second year as a Corporation and listing on Bovespa's Novo Mercado, contributing not only to the expansion of Lojas Renner, but also to the development of the Brazilian capital markets. In addition, Lojas Renner also celebrated 40 years as a listed company, having been one of the pioneers in the South of Brazil in obtaining a stock exchange listing.
Click here to view more results:
LOJAS RENNER S.A,
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