Lojas Renner sees 4th quarter better than the 3rd

São Paulo – the Lojas Renner will present in the last three months of the year result better than from July to September, said executives at clothing retailer in Conference call with analysts on Tuesday.
"Without doubt, the fourth quarter will be better than the third," said the Chief Executive of the company, José Galló.
The clothing retailer announced on the eve of 3,9% drop in sales at the same stores concept in the third quarter compared with the same period in 2015, first annual retreat since 2009, while profit fell 11,5%.
According to the Chief Financial Officer and investor relations officer of Lojas Renner, Laurence Garcia, August was a challenging month, but already "we saw sequential improvement in September and October.
The executives said they saw improvement in sales of products such as those aimed at the female audience, and cited comparison base effect as components that must help the numbers from last quarter.
Also assess that the normalization of the temperature shall be more favourable component. The economic picture, however, still does not justify optimism. According to Garcia, the consumer follows cautious.
Shops
In the third quarter, Lojas Renner reduced investments in the same range as the previous year, to 106,800,000 reais, compared with 166,800,000 dollars. During the period, 10 shops were opened, and 6 of the Renner and 4 of Camicado.
According to Galló, the company is finding this year and taking advantage of trading opportunities to accelerate the process of expansion.
"Last year we said we were doing 60 shops and we''ll inaugurate 64, being 25 of Renner, the Camicado went from 15 para17 and, in the case of Youcom we promised we will deliver 20 and 22," said the President of the company in the Conference call.