Lojas Renner S.A. announces an Equity Buyback for 1,000,000 shares, representing 0.16% of its issued share capital.
December 12, 2016 at 04:36 pm EST
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Lojas Renner S.A. (BOVESPA:LREN3) announces a share repurchase program. Under the program, the company will repurchase up to 1,000,000 common shares, representing 0.16% of the shares outstanding in the market. Repurchases will be made at market prices. The repurchases will be made through BM&FBOVESPA. The shares will be repurchased without reduction of the amount of capital for maintenance in treasury and later used for the purposes of the company’s restricted shares plan and may, in addition, be cancelled or sold. The company will use its funds available in the revenues reserves and the capital reserves accounts to make repurchases. The share repurchase program is valid for 18 months, until June 13, 2018. As of December 12, 2016, the company has 636,176,370 shares outstanding.
Lojas Renner S.A. specializes in the retail distribution of clothes and accessories for men, women and children. Gross sales break down by activity as follows:
- sale of products (90.4%): clothes, lingerie, shoes, bags, accessories, perfumes, cosmetic products, etc.;
- financial products (9.6%).
At the end of 2021, the marketing of the products is ensured through a network of 636 stores under the Renner (404), Camicado (119), Youcom (104) and Ashua (9) names in Brazil, and through Internet.
LOJAS RENNER S.A. 
