Business

Fashion retailer Lojas Renner posts 17% jump in Q4 profit

Brazilian fashion retailer Lojas Renner SA reported an almost 17% jump in its fourth-quarter net income, as lower taxes and stronger operating results helped the company improve its margins. In a securities filing, the company said its quarterly net profit hit 513 million reais ($119.80 million) compared with 439.8 million reais a year earlier. “Conditions are increasingly favourable to achieve even better results in 2020”, said the company Chief Financial Officer Laurence Gomes.

Source: Reuters

Categories: Business

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