The Havaianas and Rothy’s parent posted BRL 87.0 million ($15.7 mm) in net income in the second quarter, up 271% from BRL 23.4 million, as net sales gained 8% to BRL 1,101.4 million ($198.3 mm) from BRL 1,016.5 million. Gross margin expanded 760 b.p. to 54.7% from 47.2%, while SG&A was cut 5% in reals, leveraging 530 b.p. to 38.7% from 44.0%. Havaianas sales were up 8% to BRL 1,090.3 million. Domestic sales were up 6% to BRL 693.7 million as a 5% dip in volume to 42.0 million pairs was ... Log in to view full article.