Alpargatas Swings to Loss on Lower Sales
Net loss at the Havaianas and Rothy’s parent was BRL 53.1 million ($10.7 mm) in the second quarter against a profit of BRL 63.8 million on 13% lower sales of BRL 926.4 million ($187.1 mm) down from BRL 1061.4 million. Gross margin plunged 1140 basis points to 40.8%, while operating expenses jumped 5% in reals and deleveraged 790 b.p. on the lower top line. Havaianas sales dropped 13% to BRL 919.2 million, and shrinking margins sent EBITDA down ... Log in to view full article.
