Alpargatas Sales Decline in Q3
Net income jumped 71% to R$119.8 million ($31.3 mm) in the third quarter, but this was partly due to non-recurring items, on 2% lower revenues of R$930.7 million ($243.2 mm). Excluding one-time benefits, the Brazilian group’s EBITDA margin fell by 1.3% points to 12.3%. Gross margin declined 10 basis points to 43.4%, partly due to the higher cost of rubber. While Alpargatas has stopped breaking down its sales of sports products, which now consist mainly of its Mizuno license for Brazil and Argentina, it did say that sports shoes sales were up 17% in volume during the quarter, driven by ... Log in to view full article.