Net income was down 33% in the fourth quarter to BRL 144,705,000 ($29.2 mm) from BRL 219,785,000 on a 7% increase to net sales, hitting BRL 791,289,000 ($149.2 mm) over BRL 738,843,000. Domestic sales improved 11% to BRL 768.0 million with success in Olympikus, Under Armour and Mizuno along with a return to growth in apparel and accessories. Foreign sales plunged 53% to BRL 23.3 million from ongoing political and economic headwinds in the Argentine and Peruvian markets. E-commerce doubled to BRL 94.9 million, expanding 560 b.p. to 12.0% of the ... Log in to view full article.