Net income tripled to BRL 171.3 million ($32.5 mm) from BRL 57.3 million in the third quarter as sales grew 8% to BRL 1,115.8 million ($212.0 mm) from BRL 1,037.6 million. Companywide gross margin registered 52.5%, a 480 b.p. improvement, while total operating expense was down 10% in reals, leveraging 660 b.p. to 34.9% of sales.

Havaianas sales improved 7% to BRL 1,102.5 million, with domestic results also up 7% to BRL 872.1 million on favorable channel and product mix, while volume dipped 3% to 51.6 million pairs on inventory adjustments following ... Log in to view full article.