The bottom line swung to a BRL 32,581,000 ($6.6 mm) loss in the second quarter, from income of BRL 31,673,000 prior, on revenues that were up 9% to BRL 1,593,145,000 ($321.8 mm) after excluding inter-group eliminations and returns, compared to BRL1,463,007,000. Gross margin improved 180 b.p. to 47.6%, led by lower markdown levels at Centauro and price takes at Fisia. SG&A increased 20% in Reals, deleveraging 360 b.p. to 38.7% of sales, led by higher Nike royalty payments and marketing fees to boost Fiscia sales growth, along with rising logistics costs. ... Log in to view full article.