Decline of Alpargatas continues in third quarter
17/11/2017
Sales were especially disappointing in Argentina, where the company was founded, falling 11.3% to $52.6 million. There was also a 1.1% decrease in sales in Brazil, Alpargatas’ domestic market. Total sales in Brazil for the three-month period were $204.8 million.
In the first nine months of 2017, Alpargatas has seen its sales fall 12.4% compared to the same period of last year.
Earlier this year, Alpargatas was purchased by a consortium consisting of Cambuhy Investimentos, Itaúsa Investimentos and the Brasil Warrant fund for more than $1.1 billion.
Alpargatas is best known for its Havaianas brand of flip flops.
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