One of the three largest apparel department stores in Brazil, Lojas Renner announced today its results for the third quarter of 2005.
* Same store sales increased 17.4 percent when compared to 3Q04. For the 9M05, sales increased 12.4 percent versus the same period of 2004.
* Net Revenues rose 21.7 percent, going from R$210.0 million in the 3Q04 to R$255.4 million in the 3Q05. For the 9M05, the increase was 17.1 percent, reaching R$732.6 million.
* EBITDA margin rose to 10.2 percent in this quarter from 9.0 percent in the 3Q04. EBITDA increased from R$18.9 million in 3Q04 to R$26.0 million in 3Q05 (+37.6 percent). The EBITDA for the 9M05 was R$84.2 million, representing an increase of 25.5 percent.
* As previously announced in the 2Q05 earnings release, extraordinary expenses related to the Primary and Secondary Public Offering of Shares in the amount of R$16.4 million were recorded during the third quarter of 2005.
* In the 3Q05, Lojas Renner recorded a Net Loss of R$ 0.6 million, compared with a net income of R$20.1 million in 3Q04. For the 9M05, Net Income reached R$34.6 million, up 132.0 percent over 9M04. Excluding the extraordinary expenses from the public offering of shares and the income tax and social contribution effects, net income would have been R$10.2 million in the quarter and R$ 47.4 million for the 9M05.
Lojas Renner is one of the threelargest apparel department store chains in Brazil. With 64 stores, being 58 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.