Lojas Renner S.A. said its normalized net income for the first quarter was 6 Brazilian centavos per share, compared with the S&P Capital IQ consensus estimate of 10 centavos per share.

EPS decreased 26.7% year over year from 8 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 41.1 million reais, a decrease of 26.1% from 55.7 million reais in the prior-year period.

The normalized profit margin declined to 3.3% from 4.7% in the year-earlier period.

Total revenue increased 6.3% on an annual basis to 1.25 billion reais from 1.17 billion reais, and total operating expenses rose 9.5% year over year to 1.14 billion reais from 1.04 billion reais.

Reported net income decreased 10.5% year over year to 65.5 million reais, or 9 centavos per share, from 73.2 million reais, or 10 centavos per share.

As of April 25, US$1 was equivalent to 3.55 reais.