Net income at the Havaianas and Rothy’s parent jumped 95% to BRL 169.7 million ($33.6 mm) from BRL 87.0 million for the second quarter as net sales gained 11% to BRL 1,226.4 million ($242.9 mm) from BRL 1,101.4 million. Enterprise gross margin expanded 160 b.p. to 56.3% on higher average price per pair driven by product mix. SG&A was up 6% in reals, leveraging 170 b.p. to 37.0% of sales, as ramped-up domestic marketing for the World Cup was partially offset by lower U.S. operating expenses under the new business model ... Log in to view full article.