PORTO ALEGRE, Brazil, March 5, 2026 /PRNewswire/ — Lojas Renner S.A. (B3: LREN3) announces its results for the fourth quarter and full year 2025 (4Q25 and 2025). All amounts are expressed in millions of Reais and comparisons are with the same period in the previous year, except when otherwise indicated.
4Q25 Highlights
- Retail net revenue increased by 4.3% year-over-year with same store sales growth of 3.3% and a gross margin of 56.5%.
- Apparel net revenue increased 5.1%, with SSS growth of 4.0%, and apparel gross margin of 57.9% (+0.8 p.p.)
- Operating expenses increased 2.0%, resulting in a dilution of 0.7 p.p. as a percentage of net revenue from retail operations.
- Total Adjusted EBITDA reached R$ 1,116 million (+9%), with a margin expansion of 0.9 p.p.
- Net income totaled a record R$ 553 million (+13%), with earnings per share reached R$ 0.5621, 21% increase.
- Completion of the prior share repurchase program and launch of a new share repurchase program for up to 75 million shares.
2025 Highlights
- Retail net revenue increased by 9.2% year-over-year with SSS growth of 8.1% and a gross margin of 56.1% (+0.7 p.p.)
- Apparel net revenue increased by 10.2% year-over-year, with SSS growth of 8.9%, and gross margin of 57.4% (+0.7 p.p.)
- Digital GMV increased by 12.3%, reaching a penetration of 15.5%.
- Sales per square meter totaled R$ 17.2 thousand, approximately 45% higher than direct industry peers.
- The Company opened 34 new stores, increasing sales area by 1.8%.
- Free cash flow totaled R$ 1.4 billion, with a cash position of R$ 1.9 billion and a net cash position of R$ 1.5 billion.
- LTM ROIC improved to 14.7% (+2.3 p.p.), remaining above the Company’s cost of capital.
- Net income totaled R$ 1.5 billion (+22%), while earnings per share increased 27% to R$ 1.4422.
¹Return on Invested Capital (ROIC), calculated as NOPAT divided by Invested Capital, where (a) NOPAT represents operating profit after taxes and (b) Invested Capital corresponds to the average total capital allocated, including equity and debt.
Message from the CEO
Throughout 2025, we made steady progress in capturing the potential of our business model. We demonstrated our ability to deliver improvements across all key metrics to which we have committed for the 2026–2030 cycle. Retail net revenue grew in line with …