The bottom line inked BRL 228,917,000 ($43.5 mm) in black against last year’s BRL 32,581,000 loss on revenue that was up 8% to BRL 1,713,937,000 ($325.6 mm) from BRL 1,593,145,000 after excluding inter-group eliminations and returns. Gross margin expanded 220 b.p. to 49.8%. SG&A was up 3% in reals, leveraging 150 b.p. to 37.2% of sales on lower employee count, favorable contract renegotiation and better rationalized marketing spend.

Centauro sales grew 7% to BRL 1,072.9 million. Both segments were up 7% as brick-and-mortar posted BRL 825.3 million in sales and the Digital ... Log in to view full article.