Net income increased 17% to BRL 169,220,000 ($29.1 mm) from BRL 144,705,000 in the fourth quarter as sales were up 15% to BRL 905,719,000 ($155.5 mm) from BRL 791,289,000. Domestic sales improved 14% to BRL 877.0 million while foreign sales grew 23% to BRL 28.7 million. Sales in the home Brazilian market saw a strong Holiday, with athletic footwear leading in category results. External markets managed to post growth despite ongoing challenges in Peru and Argentina. E-commerce sales jumped 50% to BRL 142.4 million. Gross margin contracted 110 b.p. to 41.6%, ... Log in to view full article.