World Footwear

Companies

Grendene maintains targets

Nov 8, 2017 / Brazil
Grendene maintains targets
The Brazil-based company has announced net revenue up by 9.0% in the first nine months of the year. Despite the difficulties in the markets, the company says its business is performing well and will maintain the guidance for the year
Gross revenue generated in the domestic market, which now represents 78.8% of total gross revenue, grew by 14.4% in the first nine months of the year. Gross revenue generated by exports have registered a decline of 6.1% in the same period.

Year-on-year growth (YoY) of 9.0% in net revenue and 3.0% in total volume of pairs sold was registered in the first nine months of the year compared to similar period in 2016.

According to Grendene the behavior of the consumer market is not a surprise and is just in line with slow recovery of the Brazilian economy: “There have been some months of growth - causing enthusiasm - alternating with months of retraction, or slower growth, making it impossible, so far, to predict any robust and consistent recovery. Reflecting (in our view) what recovery there is, domestic market volume was up 2% year-on-year in the first semester of the year, and up by 3.7% YoY in first nine months of 2017. Our results were once again good, with growth in revenues and in operational profit (EBIT), but unfortunately with some negative impacts from increases in taxes”.

The company is satisfied with the good performance of the business in the year, attending to all the difficulties faced in the markets: “Our business model has shown itself to be resilient and capable of delivering results in the most adverse economic conditions. Taking into consideration the results now presented the company is keeping its targets for the year unchanged, but attention was raised to the fact that the risk of not achieving them has increased: “Clearly, we are still in a context of higher risk, with lower margin for making mistakes. But we are still confident in our expectations, and our capacity to deliver them”.

Related Events

  • Jul
    16
    Jul 16-Jul 19, 2018 | São Paulo, Brazil

    FRANCAL

  • Jul
    17
    Jul 17-Jul 18, 2018 | São Paulo, Brazil

    Inspiramais

  • Jul
    22
    Jul 22-Jul 25, 2018 | Curitiba, Brazil

    Calcemoda

  • Nov
    19
    Nov 19-Nov 21, 2018 | Gramado, Brazil

    Zero Grau

Related Organizations

  • Brazilian Association of the Machinery and Equipment for the Footwear and Leather Industries

    Brazilian Association of the Machinery and Equipment for the Footwear and Leather Industries

    Brazil
  • ÁPICE -  Association of the Industry of Sporting Goods

    ÁPICE - Association of the Industry of Sporting Goods

    Brazil
  • National Footwear Museum

    National Footwear Museum

    Brazil
  • ABLAC -  Brazilian Association of Artifacts and Footwear Retailers

    ABLAC - Brazilian Association of Artifacts and Footwear Retailers

    Brazil