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Lojas Renner Q1 FY20: sales down 6.1% to R$ 1,550 million
22 May 20 1 min read
Brazilian fashion retailer Lojas Renner, posted 6.1 per cent revenue decline to R$ 1,550.2 million in first quarter (Q1) FY20 compared to revenue of R$ 1,650.3 million in same period prior year. Company reported 93.6 per cent fall in its net income to R$ 10.4 million (Q1 FY9: R$ 161.6 million). Gross profit were R$ 858.9 million (R$ 911.9 million).
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Company reported that until March 13, sales proceeded at a good pace with increased customer flows through the stores. The fall-winter collection was launched in early March which indicated good customer acceptance.
Sales of Renner brand during the quarter were down 6.2 per cent to to R$ 1,404.9 million (R$ 1,497.6 million). Sales of Camicado brand fell 4.8 per cent to R$ 108.1 million (R$ 113.5 million). Sales of Youcom brand decreased 5.2 per cent to R$ 37.2 million (R$ 39.3 million).
Lojas Renner reported that the digital channels reported a good rate of growth with an increase of 32.9 per cent compared to Q1 FY19.
Fibre2Fashion News Desk (JL)
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