Lojas Renner released this Thursday (4) net income of R$ 360.4 million for the period from April to the end of June, a jump of 86.7% over the performance obtained a year earlier and above average market expectations. .
The company found a cash generation measured by earnings before interest, taxes, depreciation and amortization (Ebitda) total adjusted of 701.6 million reais, an expansion of 47% over the performance of a year earlier.
Analysts, on average, had expected a net profit of R$326.5 million for Lojas Renner in the second quarter, according to data from Refinitiv. The estimate for Ebitda was 560.8 million.
The company said in the balance sheet without giving details that sales in the third quarter “are in line with our expectations, and we expect to maintain a good pace of sales in the short and medium terms”.
In the second quarter, same-store sales rose 37.8% while online sales under the GMV concept advanced 27.3%, to 545.8 million reais.
The company said that sales were catapulted by the early arrival of winter, which encouraged consumers to change their wardrobe amid the end of social isolation measures.
Source: CNN Brasil
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