May 3, 2018 / 9:55 PM / 5 months ago

Brazil's Lojas Renner beats quarterly profit estimates

SAO PAULO, May 3 (Reuters) - Lojas Renner SA, Brazil’s largest apparel retailer, beat first quarter profit estimates on Thursday as a strong rise in sales boosted margins.

In a securities filing, the company posted first quarter net income of 111.4 million reais ($31.6 million), up 66.4 percent from a year ago, and above a Reuters consensus estimate of 89.5 million reais. ($1 = 3.5251 reais) (Reporting by Gram Slattery; Editing by Cynthia Osterman)

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