{
  "id": 18460102,
  "title": "Brazil Sandal Maker’s Profit Falls 12%",
  "url": "https://urgent.news/2026/11/06/brazil-sandal-makers-profit-falls-12",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-06T06:14:45.000Z",
  "source": {
    "name": "The Rio Times",
    "slug": "the-rio-times",
    "url": "https://www.riotimesonline.com/grendene-profit-falls-12-third-quarter-2026/"
  },
  "original_language": "en",
  "account": "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.",
  "summary": "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 .",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}