February 8, 2018 / 11:25 PM / in 4 months

Brazil's Lojas Renner misses profit estimates as costs jump

BRASILIA, Feb 8 (Reuters) - Lojas Renner SA, Brazil’s biggest apparel retailer, missed fourth-quarter profit estimates on Thursday, as a sharp increase in costs outpaced growing revenue amid an aggressive expansion drive.

In a statement, Renner said net income totaled 332 million reais ($101 million), up 10.7 percent from the same period a year earlier. Analysts projected profit of 377 million reais in the period, according to consensus estimates compiled by Reuters. (Reporting by Anthony Boadle; Editing by Chris Reese)

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