Grendene is doing less well

Net sales revenues declined by 5.0 percent to 414.6 million reais (€165.6m-$219.3m) in the third quarter at Grendene, the other big Brazilian company that makes Grendha, Ipanema, Melissa and Rider shoes, leading to a drop in its net income of 20.3 percent, down to R$83.5 million (€33.3m-$44.2m). Volumes were off ...

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