Lojas Renner has annual income above R $1 bi for the first time; see maintenance sales pace

The fashion retailer Lojas Renner had net income of more than 1 billion reais for the first time in history in 2018, supported by high double-digit revenue and expenditure control, and watch sales pace and flow of visitors in the first few weeks of 2019 seemed of the fourth quarter. "We had specific planning for this high summer and for Carnival too. We have specific and focused collection casings for that period and we see good flow and maintain the pace we were having at the end of last year, "he told Reuters the Chief financial and investor relations officer of Lojas Renner, Laurence Garcia. According to him, the macroeconomic conditions already are more favorable, but there is still a degree of uncertainty about the pace of progress of important reforms, which certainly will be reflected in the confidence of entrepreneurs and consumers. RETAIL stores Renner has annual income above R $1 bi for the first time; see maintenance on pace of sales in the year, the fashion retailer earned R $1.02 billion, surpassing in 39.2% the result of a year before Renner Lojas Renner has annual income above R $1 bi for the first time; see maintenance sales pace PHOTO: REUTERS • posted in 08/02/19 at 09:10 the fashion retailer Lojas Renner had net income of more than 1 billion reais for the first time in history in 2018, supported by high double-digit revenue and control expenses, and says a sales pace and flow of visitors in the first few weeks of the related 2019 fourth quarter. "We had specific planning for this high summer and for Carnival too. We have specific and focused collection casings for that period and we see good flow and maintain the pace we were having at the end of last year, "he told Reuters the Chief financial and investor relations officer of Lojas Renner, Laurence Garcia. According to him, the macroeconomic conditions already are more favorable, but there is still a degree of uncertainty about the pace of progress of important reforms, which certainly will be reflected in the confidence of entrepreneurs and consumers. ADVERTISING in the fourth quarter, the net profit of Lojas Renner rose 32,5% over the same period to 2017, to 439.8 million reais, above the average of analysts ' forecasts compiled by the Refinitiv, to 434,020,000 reais. In the year, the fashion retailer earned 1.02 billion, surpassing in 39,2% the result of a year before, with a high of 2.5 percentage points on net margin for 13,6%. " It was a year with quite distinct periods. We had a very challenging first half, with the strike of truckers, the World Cup and not-so-favorable climate, but recovered sales level when we spring summer in the second half, "explained Gomes. Quarterly net revenue rose year over year to 16,8% 2.595 billion reais by raising the annual billing to 7.485 billion reais. The same shops, there was 12% expansion in the fourth quarter and 7,4% in 2018. operating performance Already measured by earnings before interest, taxes, depreciation and amortization (Ebitda) adjusted total amounted to actual 742.7 million between September and December, 23,1% high in comparison with the fourth quarter of 2017. The largest cash generation and the lowest interest rates scenario enabled the Lojas Renner reduce net debt to 505.3 million reais by the end of December, 659.8 million of real a year ago. Meanwhile, investments retreated 2,8% compared to the last quarter of 2017, to 223.8 million dollars, of which 57,5% were intended for the opening of 19 new stores and refurbishing. The company ended the year of 2018 with 354 stores in total, including seven in Uruguay. At the end of January, the Lojas Renner announced expansion plans for Argentina, where he will open three stores in the second half of 2019 in Buenos Aires and Cordoba. "It's a volatile market, but our decisions are long-term and we're going in with just three stores, so the risk is mitigated," explained Gomes asked about the fragility of argentina's economy. According to the Executive, Lojas Renner will concentrate the efforts this year in terms of internationalization, in the digital transformation of the business through the omnicanalidade and market share gains in Brazil. The company does not inform the representativeness of e-commerce in total sales, but Garcia noted that the growth of the platform launched in 2010 was five times higher than the garment on the market rate online at Brazil in 2018.As shares in Lojas Renner have soared about of 2,5% in 2019 After five consecutive. Only in 2018, the high was more than 21%.