ISRAEL: Delta Galil books 23% jump in Q2 profit
- Q2 profit rose to $5.6m from $4.5m
- Sales climbed 2% to $160.2m from $156.7m
- Gross profit rose 11% to $32.7m
Intimate apparel specialist Delta Galil Industries Ltd has managed to shrug off softness in the US mass market to book a 23% jump in second quarter profit.
The Tel Aviv based firm, which makes ladies' intimate apparel, socks, men's underwear, baby-wear and leisurewear, said an improved performance in its Global Upper Market and Delta Israel segments helped offset a slowdown in the US Mass Market, where sales fell 10% to $69.6m and it swung to an operating loss of $1.7m.
An increase in selling prices to cover higher cotton costs is expected to help this unit become profitable in the second half of the year.
Global Upper Market sales increased 4% to $71.2m and operating profit soared 60% to $7.2m on higher sales and more innovative products. Profit margins were boosted by higher production volume and profitability of the company's plants.
Sales of Delta Galil Israel rose 28% to $21.5m and operating profit jumped by 42% to $3.6m, with growth helped by the launch of the first Delta Galil Kids stores this year.
Top stories on just-style this week included forecasts for a recovery in world cotton stocks, falling women's wear sales at Marks & Spencer, the breakdown of talks to sell Jones Group's jeanswear divi...
Talks to sell The Jones Group Inc's jeanswear division to Israel-based apparel and lingerie maker Delta Galil have broken down, the two companies said today (9 January), after they failed to reach "mu...
Kenneth Cole has entered a licensing agreement with Delta Galil Industries to manufacture men's and women's underwear, loungewear and hosiery under the Kenneth Cole New York and Kenneth Cole Reaction ...
Apparel and lingerie maker Delta Galil Industries Ltd yesterday (10 November) said talks to buy Jones Group's jeanswear division are taking longer than the initial one-month timeframe, but the deal is...
- Where next for 3D design and prototyping?
- What Marks & Spencer's numbers mean for clothing
- Balance essential in garment supply chain
- Tanzania adds to Africa’s apparel sourcing mix
- Apparel buyers miss out on commodity cost savings
- Brandix named PVH ‘Global Supplier of the Year’
- Earthquake damage at Bangladesh garment factories
- Ascena Retail to buy Ann Taylor owner for $2bn
- AGOA delays drag on sourcing decisions
- China and India to exploit trade relationship