Brazil’s largest fashion retailer, Lojas Renner reported on Thursday a quarterly net profit that was 45 percent higher year-on-year and greatly exceeded market expectations, helped by double-digit sales growth.
Brazilian apparel chain Lojas Renner SA made an annual profit of more than 1 billion reais ($269 million) for the first time last year, helped by double-digit revenue growth which has carried over into 2019.
Brazil’s largest apparel retailer will maintain its aggressive growth plans this year and strategy of developing both its online and physical footprint, an executive said after the company posted an unexpected quarter.
Brazil’s biggest apparel retailer beat third-quarter profit estimates on Tuesday as a strong performance by its credit business and healthy sales at existing stores more than offset rising operational costs.
As Fernanda Castro waits in line to pay for a new blender at a store in a Sao Paulo shantytown, the hairdresser recounts horror stories of friends who fell into debt and struggled to get out. "I don't want that to hap...
Brazil apparel retailer Lojas Renner will cut the interest rates it charges customers beginning in November, a spokeswoman said on Friday, as the company adjusts to a new reality in consumer financing.
Rising household income and late Easter holidays likely boosted second-quarter earnings for Brazilian retailers and consumer goods companies, offsetting the impact of rising inflation and interest rates in a sector dr...