Delta Galil records double-digit growth on new brand additions
Delta Galil is starting to see the fruit of its recent acquisitions. In 2017, the Israeli group recorded a revenue increase of 16% to $1.368 billion, following the entry of premium brands 7 for All Mankind, Splendid and Ella Moss into its label fold, acquired from VF Corp. in August 2016.
“We are extremely pleased with our 2017 annual results, which were highlighted by record sales, EBITDA, net income and EPS excluding one-time items," said Isaac Dabah, CEO of Delta Galil.
The company's net income for the full year was $49 million, compared to $51.9 million for the 2016, representing a 6% decrease. However, excluding one-time item, net of tax increased 7%. Over the period, EBITDA was $ 115.9 million, or 8.5% of sales, and financial debt was $125.6 million, compared with $181.2 million the previous year.
For 2018, the Tel Aviv-based firm forecast sales to increase between 2 and 5%, or a net revenue sitting between $54 and $59 million.
In November 2017, Delta Galil said it had promoted Amy Price to senior vice president of men's and active for the group. The Iowa University alumni was serving as vice president in charge of sales, merchandising and planning. In new role, Price will be tasked with supervising production, design and licensing sales activities for Lacoste, Original Penguin, Kenneth Cole, Columbia and Body Up.
Copyright © 2023 FashionNetwork.com All rights reserved.