Alpargatas, the Brazilian company that owns Havaianas and licenses Mizuno, saw sales tumble by 3% to R$951.1 million ($292.0 mm) in the third quarter with income from continuing operations down by 15% to R$71.3 million ($21.9 mm). Its gross profit margin improved by 90 b.p. to 43.5%, driven by the impact of cost reductions and a shift to more valuable products, but its EBITDA margin dipped by 150 b.p. to 11.5%. The group added that, excluding products invoiced but not yet delivered, its performance for the quarter improved on a pro forma basis, with a sales increase of 2% and ... Log in to view full article.