Domestic sales at the Brazilian footwear group Vulcabras grew by 19 percent to 861.2 million (€136.5m) in Q2 ended June 30 as revenues outside the country dipped by 10.4 percent to R$33.6 million (€5.3m).
The group reported a 153 percent year-over-year increase in quarterly net income to R$353.3 million (€56.0m) as total revenues rose by 17.6 percent to R$894.8 million (€141.8m). E-commerce sales increased by nearly 34 percent to R$132.1 million (€20.9m). Ebitda was 69.0 percent higher year-over-year at R$296.4 million(€47.0m), but gross margin slipped by 170 basis points to 40.8 percent. Pairage was 4.1 percent higher in Q2 at 8.5 million.
All three of the company’s brands – Olympikus, Mizuno and Under Armour – fueled footwear sales growth during the period. Athletic footwear sales rose by 18.3 percent to R$1,348.1 million (€213.6m) as other footwear revenues jumped by 20.6 percent to R$111.3 million (€17.6m). During its 50th anniversary year, Olympikus grew across all channels, driven by the success of its Corre line. Mizuno, meanwhile, launched its “The Game of Quebrada” global campaign to promote its Prophecy Morelia model. As for Under Armour, the brand posted its quarterly results under the group, driven by the training and sports lifestyle categories.
