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Lojas Renner to inaugurate two more units in Brazil
31 Dec '07
2 min read
Lojas Renner S.A. wishes to announce to the market in general and other interested parties that on December 12, it will be unveiling a further two units in its store network in the South and the Northeast regions of Brazil.
The new stores are located in Caxias do Sul, state of Rio Grande do Sul in the Prataviera Shopping Mall and in João Pessoa, state of Paraiba in the Manaíra Shopping Center, with total sales' areas of 2,891 and 3,337 square meters, respectively.
With the inauguration of these units, Renner concludes its 2007 expansion program, reaching a total of 95 stores in operation nationwide.
Additionally, the Company takes this opportunity to announce a revision in its expectations for the fourth quarter, impacting the year as a whole, in the light of the current macroeconomic scenario which has been influencing the purchasing behavior of apparel consumers, who we believe are dedicating a larger part of their disposable incomes to the payment of durable goods financing and home mortgages.
Nevertheless, despite the performance below the Company's forecasts for the last few days of November and the first half of December, Management still expects a reversal of current tendencies in the days remaining before the year-end holidays.
Lojas Renner S.A. operates 81 retail stores in Brazil, mainly in the south, southeast, mid-western and Northeast regions. The Company designs, develops and sells women's, men's, teen and children'sfashion apparel, footwear and intimate apparel under 11 private brands, six of these are organized around the Lifestyle concept.
The Company's women's and men's apparel targets women and men between the ages of 18 and 39 years, its teenager collection targets teens from 11 to 17 years old, its children's collection targets children from two to 10 years old, and its toddlers' collection targets toddlers up to 24 months old.
The new stores are located in Caxias do Sul, state of Rio Grande do Sul in the Prataviera Shopping Mall and in João Pessoa, state of Paraiba in the Manaíra Shopping Center, with total sales' areas of 2,891 and 3,337 square meters, respectively.
With the inauguration of these units, Renner concludes its 2007 expansion program, reaching a total of 95 stores in operation nationwide.
Additionally, the Company takes this opportunity to announce a revision in its expectations for the fourth quarter, impacting the year as a whole, in the light of the current macroeconomic scenario which has been influencing the purchasing behavior of apparel consumers, who we believe are dedicating a larger part of their disposable incomes to the payment of durable goods financing and home mortgages.
Nevertheless, despite the performance below the Company's forecasts for the last few days of November and the first half of December, Management still expects a reversal of current tendencies in the days remaining before the year-end holidays.
Lojas Renner S.A. operates 81 retail stores in Brazil, mainly in the south, southeast, mid-western and Northeast regions. The Company designs, develops and sells women's, men's, teen and children'sfashion apparel, footwear and intimate apparel under 11 private brands, six of these are organized around the Lifestyle concept.
The Company's women's and men's apparel targets women and men between the ages of 18 and 39 years, its teenager collection targets teens from 11 to 17 years old, its children's collection targets children from two to 10 years old, and its toddlers' collection targets toddlers up to 24 months old.
Lojas Renner S.A.
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