Lower Results in Q3 for Vulcabras
Net income dropped to R$39.5 million ($9.1 mm) from R$65.9 million in the third quarter at the parent company of Olympikus and Azaleia on a 6% decline in revenues to R$322.1 million ($84.2 mm), just as it is gearing up to take over the distribution of Under Armour in Brazil. Gross margin contracted 280 basis points to 36.6%, and marketing and ... Log in to view full article.
