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Lojas Renner Q2 profit climbs 38.3% YOY

Lojas Renner SA said its second-quarter normalized net income came to 19 Brazilian centavos per share, compared with the S&P Capital IQ consensus estimate of 21 centavos per share.

EPS increased 36.8% year over year from 14 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 133.6 million reais, an increase of 38.3% from 96.6 million reais in the year-earlier period.

The normalized profit margin increased to 8.7% from 7.7% in the year-earlier period.

Total revenue rose 22.4% year over year to 1.54 billion reais from 1.26 billion reais, and total operating expenses rose 20.2% year over year to 1.28 billion reais from 1.07 billion reais.

Reported net income grew 33.5% year over year to 158.2 million reais, or 22 centavos per share, from 118.5 million reais, or 17 centavos per share.

As of July 30, US$1 was equivalent to 3.37 reais.