Tefron Earns $7.4M On Sales Of $222.3M In ‘22

Tefron Ltd. reported net income of $7,447,000 on sales of $222,310,000 in 2022, compared to $14,352,000 on sales of $261,346,000 in 2021.

In its financial statement it noted that “production operations are carried out through subcontractors as well as by a self-production process in plants located in the Far East, Israel and Jordan.” It focuses on intimate apparel and activewear, and operates two business segments: brands and retail. Tefron’s brand segment “engages in the design, development, production, and marketing of seamless intimate apparel and activewear and leisurewear to customers in North America and Europe with leading brands such as Under Armour.” The retail segment focuses on “seamless intimate apparel and activewear and leisurewear, which are characterized by purchasing large quantities of less complex products for private brands as well as brands for” the retail market in North America and Europe “such as Walmart.”

The company listed four major customers, by letter but not by name, which accounted for 72.8% of sales in 2022. Customer A, part of its retail segment, accounted for 28.5% of sales (compared to 31.8% in 2021); Customer B, also part of its retail segment, accounted for 18.4% (compared to 17.9% in 2021); Customer C, part of the brands segment, accounted for 14.3% of sales (compared to 9.5% in 2021); and Customer D, part of the brands segment, accounted for 11.6% (compared to 12.2% in 2021).

In 2022 the Brands segment reported total revenue of $77,377,000 (with a “segment result” of $8,831,000). For its Retail segment, total revenue was $144,933,000, with a “segment result” of $5,113,000.

North America provides the bulk of sales for the company, totaling $189,030,00 in 2022. Sales from Europe were $33,276,000 and Israel, $4,000.