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
