Brazil Sandal Maker’s Profit Falls 12%
Grendene's third-quarter profit fell 12% to about US$22 million as exports slid 22%, while Brazilian sales volumes grew 3.6%. The post Brazil Sandal Maker’s Profit Falls 12% appeared first on The Rio Times .
Brazilian footwear maker Grendene reported a 12.1% drop in net profit for the third quarter of 2026, attributing the decline to lower exports and weaker pricing. While domestic sales rose 3.6%, international shipments decreased by 21.6%, falling from 30.5% to 25.5% of total exports. Revenue from sales outside Brazil dropped 18.8%, in part due to logistical issues and postponed orders by distributors.
Grendene's adjusted operating profit also fell 7.5%, and its gross margin shrank to 44.4%. The company's export volumes were significantly lower than the rest of Brazil's footwear industry, which saw a 10.9% decline in export revenue. Despite steady jobs, high interest rates and debt are dampening consumer spending in Brazil.
Written by urgent.news from The Rio Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
