Domestic sales increased 9 percent to R$829.4 million (€136.9m).
Brazilian footwear maker Grendene reported a 36 percent improvement in Q4 net profit to 330.4 million Brazilian reais (€54.6m) on 13 percent sales improvement to R$859.4 million (€141.9m). Domestic sales increased 9 percent to R$829.4 million (€136.9m) while export revenues jumped 32 percent to R$214.1 million (€35.3m). Total pairs shipped increased by 3.4 percent to 44.0 million but gross revenue per pair rose by 9.2 percent due to a higher-priced product mix. In retail, sell-out was impacted by a slowdown in consumption, particularly December, causing lower inventory turnover and less customer sales.
For FY24, group net income rose by 32 percent to R$735.2 million (€121.4m). Annual Ebit increased by 103 percent to R$557.6 million (€92.1m). Net revenues increased by 8.0 percent to R$2,628.6 million (€433.9). The group shipped 139.4 million pairs last year, essentially flat with 2023, but gross revenue per pair increased by 7.7 percent.
Grendene, in a statement, said it began 2025 with “more restrained consumption in retail and a more cautious pace in repurchases by customers.” The company intends to retain its focus on cost and expense management.
