Grendene Continues Its Progress
The Brazilian footwear company saw its net revenues grow by 22.5 percent to 374.5 million reals (€167.6m-$207.2m) in the first quarter ended March 31. The gross margin fell by 6.9 percentage points to 30.7 percent. Net income dropped by 27.0 percent to R$46.9 million (€21.0m-$25.9m).
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