Grendene reports 12.1% profit decline in third quarter

Brazilian footwear manufacturer Grendene reported a net profit of R$121.7 million for the third quarter of 2026, representing a 12.1% decrease compared to the same period in 2025. Net revenue for the quarter fell 2.4% to R$742.1 million.

The company attributed the performance to diverging trends between domestic and international markets. While sales volume in Brazil grew by 3.6% to 30 million pairs, a 22% decline in exported pairs limited overall consolidated results.

Grendene, which owns brands such as Melissa, Ipanema, Rider, and Zaxy, noted that domestic consumption is being influenced by high interest rates, consumer debt, and delinquency. Gross revenue per pair also saw a reduction, partly due to a shift in sales composition toward lower-priced categories.