Lojas Renner Q1 FY20: sales down 6.1% to R$ 1,550 million

Davida Erdahl

Pic: Lojas Renner 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 […]

Pic: Lojas Renner

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).

 

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)


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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