Net income at Brazilian Grupo SBF came in at 228.9 million Brazilian reais (€37.3m) against a loss of R$32.6 million in the year-ago period. The group hit historical net revenue, gross income, Ebitda and net income for the period ended June 30. Ebitda expanded a whopping 47 percent year-over-year to R$218.6 million (€35.6m) as gross margin grew by 220 basis points to 49.8 percent. Consolidated Q2 revenues increased 7.6 percent to R$1.714 million (€279.0m).
At Fisia (Nike’s exclusive representative and distributor in Brazil), revenues rose by 9.3 percent to $990.6 million (€161.3m) as brick-and-mortar store revenue climbed 9.6 percent year-over-year to R$254.6 million (€41.4m). Digital sales grew 10.9 percent to R$386.8 million (€63.0m), bolstered by commercial strategies such as Brazilian Valentine’s Day in June. Meanwhile, the channel’s wholesale business rose 7.5 percent year-over-year to R$349.1 million (€56.8m). The group said it expects a gradual resumption of growth in the channel as it benefits from a more normalized pricing policy in the DTC channel. Earlier this month, Fisia attracted 13,000 runners to a street race in São Paulo, with training sessions starting and ending at Grupo SBF stores.
At San Paulo-based Centauro, Latin America’s largest sporting goods retailer, total Q2 revenues rose 7.1 percent to R$859.9 million (€140.0m). Lower year-over-year store traffic in some regions was overcome by increased conversion and the number of items purchased per transaction. Brick-and-mortar sales jumped 7.7 percent in Q2 to R$667.2 million (€108.6m) and increased 5.1 percent in the digital channel to R$192.6 million (€31.4m).
