Net income jumped to BRL 197.3 million ($37.5 mm) from BRL 2.1 million for the fourth quarter as sales posted a 12% gain to BRL 1,255.2 million ($238.5 mm) from BRL 1,122.4 million. Gross margin skyrocketed to 50.4% as COGS lapped a BRL 164.3 million inventory write-down in 2024, further boosted by channel and product mix, and improved international margins. SG&A was up 17%, deleveraging 150 b.p. to 36.5% of sales, on higher marketing spend, personnel costs, and increased bonus provisions.

Havaianas sales grew 12% to BRL 1,239.5 million, also benefiting from ... Log in to view full article.