Nike’s Brazilian partner and Centauro parent Grupo SBF’s net income jumped 181% to BRL 130,532,000 ($2.5 mm) over BRL 46,468,000 for the second quarter as revenue increased 22% to BRL 2,219,026,000 ($421.6 mm) from BRL 1,817,700,000 riding World Cup tailwinds. Enterprise gross margin expanded 90 b.p. to 50.0%, while SG&A was up 15% in reals, leveraging 210 b.p. to 35.2% of sales, as higher advertising expense and store fleet expansion costs stayed within topline gains.

Centauro results improved 19% to BRL 1,121.0 million, with blended comps up 23.6%, driven by World Cup-related ... Log in to view full article.