The bottom line from continuing operations swung to a BRL 169.2 million ($37.8 mm) loss in the first quarter from BRL 171.3 million in profit in the prior year on sales that were down 3% to BRL 902.5 million ($173.8 mm) from BRL 927.2 million. Profitability suffered from a BRL 268.7 million expense item related to the 2019 sale of 22% of Alpargatas S.A.I.C which controls the Argentinean sportswear brand Topper. The company failed to receive the first BRL 89.7 million installment payment that was due on Mar. 7, prompting the ... Log in to view full article.