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Reduced liabilities drive Lojas Renner income up 53.1%
17 Feb '06
2 min read
One of the three largest apparel department store chains in Brazil Lojas Renner S.A. announced its results for the year of 2005.
2005 Highlights
* Same Store Sales increased 14.5 percent, when compared to 2004.
* Gross Sales reported an increase of 19.3 percent, reaching R$ 1.538 billion.
Net Sales amounted to R$ 1.136 billion, an increase of 19.1 percent against Net Sales of R$ 953.8 million in 2004.
* EBITDA amounted to R$ 142.0 million during the financial year, representing an increase of 32.0 percent compared to R$ 107.5 million in 2004.
The EBITDA Margin increased from 11.3 percent to 12.5 percent.
* Accumulated Net Financial Result in 2005 was a positive R$ 20.6 million compared with a negative result reported in 2004 of R$ 1.3 million.
This improvement was principally the result of the reduction in financial liabilities as well as the investment of proceeds from the IPO.
* Net Income amounted to R$ 80.3 million, 53.1 percent up on the R$ 52.5 million reported in 2004.
Lojas Renner invites its shareholders to attend the Ordinary General Meeting to be held on March 21, 2006 at the Company's Headquarters, located at Avenida Assis Brasil, 944, in the city of Porto Alegre -- Brazil.
The Invitation Letter and the Call Notice to the Ordinary General Meeting were also released.
Lojas Renner is one ofthe three largest apparel department store chains in Brazil.
With 66 stores, being 60 mall-based stores and 6 stand-alone stores strategically located throughout the South, Southeast and Mid-Western regions of Brazil, the Company designs, develops and sells women's, men's, teen and children's quality and fashionable apparel, footwear and intimate apparel under the eleven private brands of its Lifestyle concept, each of which targets a specific clothing style.
2005 Highlights
* Same Store Sales increased 14.5 percent, when compared to 2004.
* Gross Sales reported an increase of 19.3 percent, reaching R$ 1.538 billion.
Net Sales amounted to R$ 1.136 billion, an increase of 19.1 percent against Net Sales of R$ 953.8 million in 2004.
* EBITDA amounted to R$ 142.0 million during the financial year, representing an increase of 32.0 percent compared to R$ 107.5 million in 2004.
The EBITDA Margin increased from 11.3 percent to 12.5 percent.
* Accumulated Net Financial Result in 2005 was a positive R$ 20.6 million compared with a negative result reported in 2004 of R$ 1.3 million.
This improvement was principally the result of the reduction in financial liabilities as well as the investment of proceeds from the IPO.
* Net Income amounted to R$ 80.3 million, 53.1 percent up on the R$ 52.5 million reported in 2004.
Lojas Renner invites its shareholders to attend the Ordinary General Meeting to be held on March 21, 2006 at the Company's Headquarters, located at Avenida Assis Brasil, 944, in the city of Porto Alegre -- Brazil.
The Invitation Letter and the Call Notice to the Ordinary General Meeting were also released.
Lojas Renner is one ofthe three largest apparel department store chains in Brazil.
With 66 stores, being 60 mall-based stores and 6 stand-alone stores strategically located throughout the South, Southeast and Mid-Western regions of Brazil, the Company designs, develops and sells women's, men's, teen and children's quality and fashionable apparel, footwear and intimate apparel under the eleven private brands of its Lifestyle concept, each of which targets a specific clothing style.
Lojas Renner S A
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