Home / Knowledge / News / Apparel/Garments / Lojas Renner Merchandise unit registers 23.6% growth
Lojas Renner Merchandise unit registers 23.6% growth
30
Apr '08
LOJAS RENNER S.A., one of the three largest apparel department store chains in Brazil, announces its results for the first quarter 2008 (1Q08). Except where indicated to the contrary, the following financial and operating information is consolidated according to Brazilian Corporate Law and comparisons refer to the first quarter of 2007 (1Q07).

Given the relevance of the revenue generated from financial services as a result of the growth in these operations and the alignment of the financial statements to international accounting practices, as from December 2007, the Company has begun to include revenues from financial services in Gross Operating Sales Revenue.

Highlights:
The Company's total Net Revenues posted growth of 24.2%, increasing from R$ 347.6 million in 1Q07 to R$ 431.8 million in 1Q08.

Net Revenues from Merchandise Sales reported growth of 23.6% from R$ 310.3 million in 1Q07 to R$ 383.4 million in 1Q08. Same Store Sales recorded an 11.5% improvement over the same period.

Gross Profit from Merchandise Sales were R$ 183.6 million in 1Q08 and Gross Margin showed a growth of 1.4 percentage points from 46.5% to 47.9% in 1Q08, due to improved processing in procurement and inventory management.

EBITDA registered an increase of 42.6% reaching R$ 55.4 million in 1Q08, with the EBITDA Margin as a percentage of Net Revenues from Merchandise Sales at 14.5% in the quarter versus 12.5% in 1Q07.

Capital Expenditures in Fixed Assets in 1Q08 amounted to R$ 18.1 million.


Must ReadView All

UK, EU agree to take more time for Brexit deal

Textiles | On 19th Oct 2018

UK, EU agree to take more time for Brexit deal

After an ongoing Brexit summit produced no tangible results, European ...

Courtesy: Pexels

Textiles | On 19th Oct 2018

US announces intent for trade deals with Japan, EU, UK

US Trade Representative Robert Lighthizer recently notified the...

Courtesy: Turtle Limited

Fashion | On 19th Oct 2018

'We are trying to imbibe multi-utility factor in menswear'

Turtle Limited, a leading Indian brand in menswear fashion, is trying ...

Interviews View All

Top executives, Retailers

Top executives
Retailers

Weak rupee breeds inflation

Veronique Lee, Modavanti

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Priyanka, Studio Priyanka Rajiv

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Manuele Baggini,

Manuele Baggini

Comec Italia Srl is a world leader in the production of printing machines. ...

Franco Ravazzi,

Franco Ravazzi

Italy-based Tessimenti E Orditi Tinti (T.O.T SRL) specialises in stocking...

Himanshu Jariwala,

Himanshu Jariwala

J Korin started as a partnership firm with four powerlooms in the textiles ...

Ayyappa Nagubandi, Broadcast Wearables Pvt Ltd

Ayyappa Nagubandi
Broadcast Wearables Pvt Ltd

Hyderabad-based Broadcast Wearables has come up with the country's first...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, the Association of the Nonwoven Fabrics Industry, serves hundreds of ...

Kevin Nelson, TissueGen

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Priya Somaiya, Usha Social Services

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Silvia Venturini Fendi, Fendi s.r.l

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Jay Ramrakhiani, Occasions Elegance Wear

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


October 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search