(Filed Under wholesale Lingerie News). Delta Galil earned $27.27 million on sales of $455.77 million in the quarter ended June 30, 2021, compared to a loss of $53.29 million on sales of $270.95 million in the same period a year ago.

The company reported “strong growth across all business segments. Organic sales, excluding Bare Necessities, which was acquired in October of last year, increased by 56% in the second quarter. Company’s own websites’ sales increased 97% to $63.3 million. Gross margin increased by 1,180 basis points to an all-time high of 41.1%.”

CEO Isaac Dabah stated: “We are very pleased with our performance this quarter, which now marks four consecutive quarters of record operating margin and three consecutive quarters of record gross margin, including achieving the highest ever gross margin of 41.1% in this quarter.” He added that earnings were “driven by higher sales in all segments and better channel, product and customer mix, along with SG&A [selling, general and administrative expense] leverage and improvements in our factories, which were positively impacted by efficiency measures we implemented. It is also important to note that total sales were up 22% and net profit was more than four times higher than in the same quarter of 2019, the last ‘normal’ period before the pandemic impacted the global economy. We remain focused on our commitment to digital innovation and recently announced the strategic merger of our Bare Necessities and Brayola business units to create the largest intimates marketplace for women. We also recently signed new global license agreements with Adidas and Wolford, and we are excited by the growth opportunities ahead of us.” — NM

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Published 08-19-2021 by Nick Monjo