Grendene S.A. Reports Earnings Results for the Fourth Quarter Ended December 31, 2023
February 28, 2024
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Grendene S.A. reported earnings results for the fourth quarter ended December 31, 2023. For the fourth quarter, the company reported sales was BRL 798.71 million compared to BRL 815.61 million a year ago. Revenue was BRL 760.78 million compared to BRL 763.67 million a year ago.
Net income was BRL 243.03 million compared to BRL 202.61 million a year ago.
Grendene SA is a Brazil-based company mainly engaged in the production and sale of synthetic footwear for domestic and foreign markets. The Company's activities are divided into two business segments: Footwear and Furniture. The Footwear division develops, manufactures, distributes and sells shoes for various uses and for all social classes, in the male, female, child and mass market segments. Its brand names portfolio includes Rider, Ipanema, Zaxi, Grendha, Grendene Kids and Melissa, among others. The Furniture division focuses on the sale, import and export of furniture and supplements made from plastic. The Company sells its products through commercial representatives, distributors and direct export. It operates a number of manufacturing plants in Brazil. It controls Grendene Argentina SA, MHL Calcados Ltda and Grendene USA Inc, among others.