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Victory basket: Shufersal shows a leap in all parameters
Shufersal reports its financial results for the second quarter and first half of 2021. The Group continues to present strong business results that reflect the good times of the retail market in general and Shufersal in particular.
Leap in profits and private label sales
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Shufersal
financial reports
Itzik Aberkhan
Yaki and Damani
Walla!
Of money
Wednesday, 11 August 2021, 11:55 Updated: 12:09
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The corona year, which affected quite a few industries in the economy, did only good for the retail chains in Israel.
The largest of these, Shufersal, today published the financial statements for the second quarter of 2021, which show an improvement in the group's profitability in almost every possible aspect.
Shufersal's operating profit in the second quarter increased by 11% to NIS 183 million, compared with NIS 165 million in the corresponding quarter last year.
Net profit in the second quarter increased by 21% to NIS 97 million, compared with NIS 80 million in the corresponding quarter last year.
Private label sales in the quarter rose to about 26.1% of total food retail sales, compared to about 25.4% in the corresponding quarter last year.
The Be segment continues to significantly improve its results in accordance with the company's work plans: revenues increased by 16% in the second quarter and amounted to NIS 223 million, compared with NIS 192 million in the corresponding quarter last year.
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Itzik Aberhahn, CEO of Shufersal. The group can continue to smile (Photo: Sivan Farage)
Among the innovations: Shufersal for Business and cooperation with Discount
Yaki and Damani, Chairman of the Board of Shufersal and Itzik Aberkhan, CEO of Shufersal, said at the time of publication of the reports:
"We are pleased to conclude the second quarter of 2021, with strong business results reflecting the continued success of the group." Invest in upgrading the supply chain infrastructure and logistics centers, strengthening the online and technological infrastructure system and the group's main business growth engines, including the Be chain, the private label, Shufersal Real Estate and more.
The group places emphasis on expanding its activities in the institutional market through Shufersal for businesses, which has been in the process of growth for several years and is one of Shufersal's important arms. Also, in the first half of 2021, the PayBox transaction was completed, which expresses the strategic cooperation with Discount Bank, which will bring the Israeli consumer added innovative value in the field of financial services.
In line with the changing reality, we are working to continue Shufersal's growth trend while promoting innovation and bringing unique solutions, which express its strengths and capabilities in a variety of areas of activity, which will ensure that we continue to lead the retail market in Israel in the future. "
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