Due to investments made in each of its retail segments, Q2 Ebitda at Grupo SBF declined by 2.5 percent year-over-year to 213.0 million Brazilian reais (€33.7m) for the period ended June 30. Net income slipped by 80 percent to R$46.5 million (€7.4m) as the gross margin contracted by 70 basis points to 49.1 percent.
Quarterly gross revenues at the Brazilian group rose by 6.6 percent year-over-year to R$2.3 billion (€364.0m). At Centauro, which had a 12.4 percent increase in gross revenues to R$1.2 billion (€190.7m), Grupo SBF is making investments to enhance its customers’ shopping experience. Inside brick-and-mortar stores, there will be more technical and personalized service, a broader product assortment, and improvements and retrofits of older doors. Within the digital channel, Centauro continues to evolve its tech platform, strengthen its omnichannel strategy, and improve the presentation of products. Physical store sales rose by 10.3 percent to R$910.4 million (€144.2m) from 227 locations. Digital sales climbed by 18.5 percent to R$293.5 million (€46.5m).
At Fisia, the company has installed a new leadership group that is committed to Nike’s global strategy focused on strengthening the wholesale channel, increasing its presence in soccer, implementing a new strategy for the running category, and “maintaining leadership” in the lifestyle category. In Q2, the banner realized 46 percent sales growth from Nike’s Vomero maximum cushioned running shoe designed for long distances. The retailer’s gross Q2 revenues rose by 5.2 percent to R$1.32 billion. Wholesale sales improved by 7.6 percent to R$464.0 million (€73.5m) and jumped by 5.4 percent in the digital segment to R$508.7 million (€80.6m). Nike Value Store revenues grew by 1.9 percent year-over-year to R$345.6 million (€54.7m) from 38 locations and more than 42.8 million square meters of selling space. The group also operates nine Nike stores.
