Lojas Renner Announces 1Q08 Increase of 42.6% in EBITDA and 62.0% in Net Income
PORTO ALEGRE, Brazil, April 29 /PRNewswire-FirstCall/ -- LOJAS RENNER S.A. (Bovespa: LREN3), one of the three largest apparel department store chains in Brazil, today announces its results for the first quarter 2008 (1Q08).
HIGHLIGHTS FOR THE 1Q08
-- 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 was 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.
-- The Renner Card accounted for 62.2% of 1Q08 sales. The Company has now
issued a total of 12.4 million store cards with an average ticket of
R$ 101.35, against R$ 93.57 reported in 1Q07.
Upcoming Events - Conference Calls
English
Date: April 30, 2008
Time: 12:00 p.m. (US-ET) / 1:00 p.m. (Brazil)
Telephone: +1 (973) 935 8893
Toll Free: 1 800 418 6854 (US-Canada)
1 800 032 3836 (UK)
Replay: +1 (706) 645 9291 or +1 (800) 642 1687
Code: 425 461 30
Webcast: http://www.mz-ir.com/webcast/renner/1t08/?e
Portuguese
Date: April 30, 2008
Time: 10:00 a.m. (US-ET) /11:00 a.m. (Brazil)
Telephone: +55 (11) 2101 4848 or 0800 722 0011
Replay: +55 (11) 2101 4848 or 0800 722 0011
Code: Renner
Webcast: http://www.mz-ir.com/webcast/renner/1t08
About Lojas Renner
Lojas Renner is one of the three largest apparel department store chains in Brazil with 99 stores, 92 of them installed in shopping malls and a further 7 stand-alone stores in downtown city areas, located in the South, Southeast, Midwest, North and Northeast of Brazil. The Company develops and sells quality women's, men's, teen and children's apparel, footwear and underwear through 11 private brands, of which six represent the Lifestyle concept, each brand targeting a specific style and way of dressing.
Contact
Paula Picinini
+55 (51) 2121-7044
ri_lojasrenner@lojasrenner.com.br
First Call Analyst:
FCMN Contact:
Source: Lojas Renner S.A.
CONTACT: Paula Picinini, Lojas Renner, +011-55-51-2121-7044,
ri_lojasrenner@lojasrenner.com.br
Web site: http://www.lojasrenner.com.br/
2008-04-29 17:31:00 0348412 PRNEWSWIRE