Business · Companies · 3 hrs ago
Grendene’s third-quarter profit falls 18% to 151 million reais
Brazilian footwear maker Grendene reported 151 million reais in adjusted third-quarter profit, 18.2% less than a year earlier.
The company, which owns the Melissa and Ipanema brands, said net revenue fell 2.4% to 742.1 million reais.
Its adjusted operating earnings also declined, while the cost of products sold rose.
Sales in Brazil held up, with 30 million pairs sold, a 3.6% increase from the same quarter a year earlier.
Exports declined, and Grendene said high interest rates, debt and late payments are affecting consumer purchases and retailers’ stock orders.
The company plans to buy back up to 5 million shares, equal to as much as 2.17% of shares in circulation.
Grendene reported adjusted net profit of 151 million reais for the third quarter, down 18.2% from a year earlier.
Adjusted EBITDA fell 6.2% to 133.7 million reais, while net revenue declined 2.4% to 742.1 million reais.
The company said domestic sales volumes grew, but exports contracted.
It sold 30 million pairs in Brazil, 3.6% more than in the third quarter of 2025.
Grendene also announced a share buyback programme covering up to 5 million shares.
- Who
- Grendene, the footwear manufacturer and owner of the Melissa and Ipanema brands.
- What
- It reported adjusted third-quarter net profit of 151 million reais, down 18.2% year on year.
- When
- The results were announced on Thursday, November 5, 2026.
- Where
- Grendene reported growth in domestic sales volumes and a contraction in exports. The article does not state where the results were announced.
- Why
- Grendene said high interest rates, indebtedness and delinquency continue to affect consumer purchasing decisions and retailers’ stock replenishment.
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- Adjusted net profit
- R$151 million
- Net profit change
- Down 18.2% year on year
- Adjusted EBITDA
- R$133.7 million, down 6.2%
- Net revenue
- R$742.1 million, down 2.4%
- Brazil domestic sales
- 30 million pairs, up 3.6% from the third quarter of 2025
- Share buyback
- Up to 5 million shares, or up to 2.17% of shares in circulation
What people are saying
High interest rates, indebtedness and delinquency continue to influence consumers’ purchasing decisions and retailers’ stock replenishment.