The group was particularly pleased with results from its Centauro segment.
Brazil’s Grupo SBF achieved record annual revenues of 9.0 billion Brazilian reais (€1.44bn), cut its expense-to-revenue ratio by 20 basis points, and experienced a 27 percent increase in adjusted Ebitda to R$772.4 million (€123.6m) in FY24. Annual gross margin improved by 170 basis points to 49.1 percent.
The group was particularly pleased with results from its Centauro segment, the country’s top sporting goods chain, which recorded the best year in its history through an increased focus on improved operational efficiency and maximized gross profit per square meter. Revenues rose by 4.4 percent year-over-year to a record R$4.5 billion (€722.5m). Digital sales were up by 11.0 percent for the FY at R$991.5 million (€158.7m) and by 2.7 percent to R$3.52 billion (€563.8m) in 227 physical stores. Same-store sales increased by 4.7 percent. Annual gross margin improved by 80 basis points to 50.0 percent.
In Q4, Centauro realized 4.6 percent overall sales growth to R$1.4 billion (€223.7m), with digital revenues rising by 21.6 percent to R$316.0 million (€50.6m) and store sales inching up by 0.5 percent to R$1.08 billion (€173.1m).
At Fisia, the segment’s results benefitted from Nike Value Stores being supplied by their own distribution center and activations and sporting events such as the Nike Run. The banner’s annual revenues were essentially flat but reached a record R$5.12 billion (€819.7m). Gross margin jumped by 560 basis points to 43.7 percent. Digital sales rose by 3.3 percent for the FY to R$2.04 billion (€326.4m), and Nike Value Store revenues increased by 7.1 percent to R$1.44 billion (€229.7m). Because of inventory adjustments made in H2, wholesale revenues tumbled by 7.9 percent for the fiscal year to R$1.65 billion (€229.7m). The division ended the 12 months with 37 Nike Value stores with more than 41.8 million square meters of space and nine Nike stores totaling 5.6 million square meters of selling space.
Grupo SBF says its overall FY25 strategy is to make further progress at Fisia so that all its operations are fully integrated. That measure will allow each segment to leverage its strengths going forward, the company said.
