The Havainas and Rothy’s parent reported a BRL 23.4 million ($4.4 mm) profit after last year’s loss of BRL 53.1 million as sales grew 10% to BRL 1,016.5 million ($193.1 mm) over BRL 926.4 million. Gross margin improved 640 b.p. to 47.2%, while SG&A was up 3% in reals, leveraging 310 b.p. to 44.0% of the top line. Havaianas posted a 10% gain to BRL 1,006.7 million on 22% domestic growth to BRL 655.4 million. Volume was also up 22% to 37.1 million pairs as destocking trends finally abated and ... Log in to view full article.