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Lojas Renner Q4 FY20 revenue grows 1.6% to R$ 2,920 mn

23
Feb '21

Pic: Lojas Renner

Brazilian fashion retailer, Lojas Renner, has reported 1.6 per cent revenue growth to R$ 2,919.6 million (Brazilian real) in its fourth quarter (Q4) FY20 ended in December 2020 compared to the revenue of R$ 2,873.1 million in the same period prior fiscal. However, net income for the quarter slipped 31 per cent of R$ 354.0 million (Q4 FY19: R$ 512.8 million).

In Q4 FY20, company’s digital sales increased 123.2 per cent representing 9.4 per cent of the total sales.

“Over the course of the last quarter of 2020, fresh improvements were made in the customer shopping experience such as the launching of the virtual fitting room, bringing with it more autonomy, flexibility as well as improvements in customisation of browsing,” company stated in a press release.

Gross profit for the quarter dropped 5.7 per cent to R$ 1,570.3 million (R$ 1,666.0 million). Operating expenses for Q4 was R$ 868.2 million (R$ 771.7 million).

Sales of Renner brand during Q4 FY20 grew 0.5 per cent to R$ 2,622.0 million (R$ 2,609.6 million). Whereas, sales of Camicado brand jumped 14.4 per cent to R$ 203.2 million (R$ 177.7 million), and for Youcom brand it rose 6.4 per cent to R$ 91.2 million (R$ 85.7 million).

Fibre2Fashion News Desk (JL)

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