(Filed Under Financial and General Interest News). In the second quarter, Delta Galil earnings rose 14% to $8.9 million, as sales jumped 36% to $340.5 million. The company reaffirmed its expectation that sales for the year will be between $1.330 billion and $1.370 billion.
CEO Isaac Dabah boasted, “Delta Galil delivered an exceptionally strong performance in the second quarter, reflecting double-digit growth on the top- and bottom-line. Our results were driven by well-defined strategies to build our premium and branded business, expand our market reach, extend our manufacturing resources, and be an ever increasing source of innovative, high quality, differentiated products for our customers and consumers worldwide.”
“During the quarter, we saw significant growth in Delta Galil USA, mainly kids and activewear categories and in the global upper market. Importantly, the gross margin in Delta Galil USA increased across all business units. Delta Premium Brands, our recent acquisition, continued to exceed the plan.” In June of 2016 Delta announced it was acquiring the businesses and brands of 7 For All Mankind, Splendid and Ella Moss for $120 million.
Dabah added, “Throughout the quarter we continued to invest in growing our production capacity, and are currently running our Vietnamese factory with 850 employees. We expect to reach full operational status in the facility in the second half of 2018.”
“Looking ahead, we are focused on growing our international and e-commerce businesses, while continuing to pursue strategic acquisition opportunities.”
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