Tefron Q3 Sales Jump 24.7%

Tefron Q3 net income rose to $4.370 million on sales of $76.382 million, up from a net profit of $3.340 million on sales of $61.230 million in the quarter ended September 30, 2023.

The Tel Aviv headquartered firm, which describes itself on its website as “the world’s top manufacturer of seamless intimates and activewear,” operates two primary divisions. The “brands” segment “engages in the design, development, production and marketing of seamless intimate apparel and activewear and leisurewear, which are manufactured in the company’s plants and through subcontractors and are sold to customers with leading brands.” The “retail” segment “engages in the design, development, production and marketing of seamless intimate apparel and activewear and leisurewear, which are sold worldwide to customers in the retail market and are characterized by purchasing large quantities of less complex products compared to the products of the brands segment.”

The “retail” segment is the largest, with “revenues from external parties” of $163.499 million, resulting in “segment results” of $12.291 million in the nine months ended September 30, 2024. The “brands” segment generated $66.932 million in revenue, which resulted in “segment results” of  $8.345 in the same period.

Referring to the current local hostilities, the company advised that “the war has had no material effect on the company since all the sales and production processes are carried out overseas, with the exception of the development stage, which is mostly carried out in Israel and which was also not affected by the war. Based on the period of the war that is still going on, the company does not expect the events of the war to have a material impact on the company. Nevertheless, it should be noted that a deterioration into a regional war could affect Israel’s relationship with Jordan and the company’s local production in Jordan, something that could have significant effects, particularly in regard to the brands segment.”

Above, an image from the Tefron website.