(Filed Under Financial and General Interest News). Delta Galil reported a profit of $19.542 million on sales of $382.878 million in the three months ended September 30, compared to a profit of $14.034 million on sales of $446.139 million in the same period last year.
Net income in the quarter represented a dramatic turnaround from a loss of $53.3 million in the second quarter of 2020. E-commerce sales on the company’s websites, which now include Brayola.com and BareNecessities.com nearly doubled, with a 97% increase.
CEO Isaac Dabah noted, “our return to profitability exceeded our expectations and will continue in the fourth quarter. Our results this quarter were driven by a strong performance in Delta European Brands and Delta Israel, coupled with initial benefits reaped from our strategic restructuring plan announced last quarter, as well as additional cost savings initiatives.” — NM
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