×
69 189
Fashion Jobs
BERGDORF GOODMAN
Bridal Consultant
Permanent · New York
NEIMAN MARCUS
Operations Manager
Permanent · San Francisco
NEIMAN MARCUS
Senior Merchandise Planner, Fashion Accessories
Permanent · Dallas
NEIMAN MARCUS
Loss Prevention Associate - st. Louis, mo
Permanent · St. Louis
NORDSTROM
HR Business Partner - Cedar Rapids Fulfillment Center - Hybrid
Permanent · Cedar Rapids
KOHLS
Senior Business Intelligence Engineer (Remote)
Permanent · Menomonee Falls
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Seabrook
KOHLS
Full-Time Sales Supervisor - Hardlines
Permanent · Columbia
KOHLS
Art Director - Digital (Remote)
Permanent · Menomonee Falls
AESOP
Part-Time Retail Consultant | San Diego
Permanent · San Diego
ALL SAINTS
Vip & Public Relations Coordinator
Permanent · West Hollywood
COTY
Digital Marketing Manager Philosophy
Permanent · New York
ABERCROMBIE AND FITCH STORES
Abercrombie & Fitch - Manager in Training, Grapevine Mills Outlet
Permanent · Grapevine
ABERCROMBIE AND FITCH STORES
Abercrombie & Fitch - Manager in Training, Gardens
Permanent · Palm Beach Gardens
ABERCROMBIE AND FITCH STORES
Abercrombie & Fitch - Manager in Training, Sono Collection
Permanent · Norwalk
ABERCROMBIE AND FITCH STORES
Abercrombie & Fitch - Manager in Training, Ontario Mills Outlet
Permanent · Ontario
ABERCROMBIE KIDS STORES
Abercrombie Kids - Manager in Training, Riverhead Outlet
Permanent · Riverhead
ABERCROMBIE AND FITCH STORES
Abercrombie & Fitch - Manager in Training, Mall at Robinson
Permanent · Pittsburgh
ABERCROMBIE AND FITCH STORES
Abercrombie & Fitch - Manager in Training, Galleria at Roseville
Permanent · Roseville
ABERCROMBIE KIDS STORES
Abercrombie Kids - Manager in Training, Washington Square
Permanent · Tigard
ABERCROMBIE KIDS STORES
Abercrombie Kids - Manager in Training, Sawgrass Mills
Permanent · Sunrise
ABERCROMBIE AND FITCH STORES
Abercrombie & Fitch - Manager in Training, Fashion Show
Permanent · Las Vegas
Published
Feb 27, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Optimism over 44% earnings rise at Delta Galil dampened by coronavirus fears

Published
Feb 27, 2020

Delta Galil Industries, Ltd., the Tel Aviv-based owner of brands including 7 For All Mankind, Schiesser, Eminence and PJ Salvage, announced record fourth-quarter and full-year sales and earnings on Wednesday thanks to strong top and bottom-line growth, but the coronavirus outbreak cast a long shadow over the company’s outlook for 2020.


Delta Galil's brands include7 For All Mankind, Schiesser, Eminence and PJ Salvage - Instagram: @7forallmankind

 
In the fourth quarter ended December 31, 2019, Delta Galil’s net income skyrocketed 44% to $35.6 million, up from $24.7 million in the prior-year period, while diluted earnings per share rose 45% from $0.97 to $1.40.
 
Quarterly sales at the company totaled $504.8 million, an 11% increase from $454.3 million in the same period in the previous year.

Full-year sales also saw a low-double-digit increase of 13%, rising from $1.5 billion to $1.7 billion, while the company’s annual net income jumped 20%, from $48.2 million to $57.7 million. Diluted earnings per share rose 19% to $2.26, up from $1.90 in the previous year.
 
Delta Galil’s progress in 2019 was driven primarily by its global upper market, Delta Israel and European brands segments, as well as double-digit growth in its e-commerce channel, which reflected continued investments made by the company in its online platform over the course of the year.
 
As part of its online expansion strategy, Delta Galil recently acquired online bra-fitting specialist Brayola, after a year which also saw the company purchase Hong Kong-based vertically integrated intimates group Bogart, another key focus for Delta Galil’s expansion plans in 2020.
 
“We are pleased to have concluded a strong 2019, as reflected in our record sales, EBIT, EBITDA and operating cash flow,” commented Delta Galil CEO Isaac Dabah in a release. “As always, we remain committed to investing in new products and resources to drive sustained profitable growth and long-term shareholder value. And, with a strong balance sheet, we have the necessary financial resources to continue to innovate and grow.”
 
However, despite Dabah’s apparent optimism, the company’s full-year 2020 outlook disappointed investors due to the predicted negative impact of the ongoing coronavirus outbreak.
 
Estimating losses related to the epidemic to be between $5 million and $7 million in the first half of the year, Delta Galil currently predicts full-year net income of between $57 million and $62 million, with diluted EPS expected to be in the range of $2.23 to $2.42.
 
Full-year 2020 sales are expected to be between $1,740 million and $1,770 million, representing an increase in the range of 3% to 5% compared to 2019.

Following the company’s announcement of its 2020 outlook, shares in Delta Galil fell 9% during Wednesday’s trading session in Tel Aviv.

Copyright © 2022 FashionNetwork.com All rights reserved.