Net income tumbled 80% to BRL 46,468,000 ($8.4 mm) from BRL 228,917,000 on 6% higher revenues of BRL 1,817,700,000 ($327.2 mm) from BRL 1,713,937,000 for the second quarter. The bottom line was impacted by a swing in net financial expenses of BRL 62,509,000, compared to income of BRL 123,289,000 a year ago. Companywide gross margin contracted 70 b.p. to 49.1%, while SG&A was up 6% in reals, deleveraging 10 b.p. to 37.3% of sales.

Centauro retail sales increased 9% to BRL 940.7 million, with blended comps up 10.7%. Segment gross margin expanded ... Log in to view full article.