Grupo SBF’s adjusted Ebitda slips by 4.9 percent in Q1

The Brazilian footwear group posted a 4.0 percent increase in consolidated Q1 revenues to 1.97 billion Brazilian reais (€245.8m), but adjusted Ebitda fell by 4.9 percent to R$222.1 million (€35.1m). The consolidated net profit rose by 77.7 percent year-over-year to R$67.3 million (€10.6m). The gross margin improved by 90 basis points to 49.7 percent.

Cantauro Group performed well in Q1

Grupo SBF again said it was pleased with the performance of its Centauro group in Q1, thanks to solid performance in both the physical and digital channels and aided by its efforts last year to increase full-price sales, improve its product assortment, and boost customer conversions. Centauro store revenues rose by 9.7 percent year-over-year to R$816.6 million (€129.1m) and by 24.6 percent in the digital arena to R$227.1 million (€35.9m). The digital business benefited from adding the 1P assortment online and a larger investment in performance marketing. Same-store sales were up by 13.2 percent compared to a 5.0 percent improvement in Q1/24. The business ended the period with 227 stores.

Nike was of importance

At Fisia, wholesale revenues contracted by 17.7 percent, R$324.9 million (€51.4m). The company attributed the decline to its strategy of reducing markdowns. Channel sales are forecast to rebound in Q2 based on purchase orders received at the end of 2024. During the period, the retailer launched Nike’s new family of running shoes, focusing on responsiveness, stability, and maximum comfort, at a special event in Sao Paulo. Digital sales inched up by 0.5 percent to R$429.1 million (€67.9m) and Nike Value Store revenues were 0.8 percent higher year-over-year at R$287.3 million (€45.4m). Both store models benefited from a 6.3 percent increase in the average ticket. Grupo closed the period with 37 Nike Value Stores and 9 Nike stores. Same-store sales for Nike Value Stores declined by 3.4 percent against a year-ago increase of +11.6 percent.