Delta Galil: Record Q3 Sales

In the third quarter, Delta Galil earned $32.045 million on sales of $524.234 million, compared with profits of $29.796 million on sales of $463.039 million last year.

The company noted that sales for the quarter ending September 30 were a record, as was the 41.6% gross margin, which rose 70 basis points.

CEO Isaac Dabah explained that “record top-line results were driven by growth across all channels including record third quarter DTC sales. In addition, we have produced five consecutive quarters of record gross margin reflecting the continued success of the strategies we are pursuing to enhance our operating efficiencies and realign our manufacturing capabilities.”

He added, “I am encouraged by the strong operating and financial results we have achieved through the first nine months of 2024. This is a testament to the diversified business model we have developed, the strategies we are pursuing and the talent of our global workforce. During the third quarter, we published our 2023 ESG report highlighting our commitment to a greener, inclusive, and ethical world. We also announced a strategic partnership with Reliance Retail Ventures, the largest retail company in India that is aimed at driving growth and introducing our legacy of innovation within the intimate apparel sector to the Indian market.”

The company is projecting full year 2024 sales of $1.991 billion to $2.031 billion, compared to actual 2023 sales of $1.858 billion. Net income is expected to be in the range of $106.9 million to $114.7 million, compared to actual profits of $91.6 million for 2023.