Brazilian fashion retailer Lojas Renner, has reported 14.5 per cent revenue decline to R$ 1,651.2 million in its third quarter (Q3) FY20 ended in September 2020 compared to the revenue of R$ 1,931.9 million in same period prior fiscal. Company incurred a net loss of R$ 82.9 million compared to net income of R$ 186.7 million in Q3 FY19.
“We have reached the fourth quarter and we are on our way to normality and, at the moment, we have all the necessary our stores operating, with the growing flow, and the digital businesses evolving in a relevant way,” company reported in a press release.
Gross profit for the quarter slipped to R$ 788.2 million (Q3 FY19: R$ 1,049.9 million). Operating expenses for Q3 decreased to R$ 653.9 million (R$ 677.4 million). EBITDA reported a loss of R$ 38.2 million (R$ 354.8 million).
Company’s sales in the reported quarter were impacted by the temporarily store closure until August.
Sales of Renner brand during the quarter were down 16.9 per cent to R$ 1,468.9 million (R$ 1,767.6 million). Whereas, sales of Camicado brand jumped 25.7 per cent to R$ 146.6 million (R$ 116.6 million). Sales of Youcom brand decreased 27.7 per cent to R$ 34.5 million (R$ 47.8 million).
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