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Havaianas owners Alpargatas posts drop in Q3 sales

By Prachi Singh


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Credits: Image: Courtesy of Havaianas

Alpargatas third quarter net revenue reached 896.2 million Brazilian real, down 17.8 percent due to a 21.8 percent drop in volumes sold. Gross profit for the quarter reached 363.1 million Brazilian real, a 30 percent drop compared to the third quarter of 2022.

The company said consolidated net losses in the period were 8.5 million Brazilian real and the normalised net income was 4.6 million Brazilian real.

Alpargatas reports revenue decline at Havaianas

The company added that Havaianas net revenue was impacted by the lower sales volume in the quarter and reached 884.7 million Brazilian real, a drop of 17.8 percent and 17.2 percent in constant currency (CC).

Havaianas Brazil net revenue dropped 15.2 percent, with an increase in revenue per pair of 5.7 percent, while Havaianas international net revenue decreased 26.9 percent to 177.7 million Brazilian real.

During the quarter, the Cogs revenue was 528.6 million Brazilian real, down 7.9 percent, while year-to-date, the increase was 1.8 percent.

Havaianas gross profit was 356.1 million Brazilian real, down 29.2 percent and gross margin was 40.3 percent, down 6.4 p.p. EBITDA reached 69.6 million Brazilian real, a drop of 61.4 percent, while the EBITDA margin dropped 8.8 p.p. or 9 p.p. in constant currency.

Alpargatas records 20.3 percent revenue reduction at Rothy’s

Rothy's achieved net revenue of 30.4 million dollars, a reduction of 20.3 percent, mainly due to lower e-commerce traffic in the quarter.

The gross margin increased 6.7 p.p., while EBITDA was negative 6.8 million dollars in the quarter, a positive evolution of 5.2 million dollars versus the third quarter of 2022.