DELTA GALIL REPORTS STRONG FOURTH QUARTER AFTER YEAR OF GROWTH
Delta Galil Industries, Ltd., the global manufacturer and marketer of branded and private label apparel products for men, women and children has reported a significant gain in the fourth quarter of 2016 as well as the entire fiscal year.
The company reported sales of $376.3 million for the fourth quarter of 2016, a 31 percent increase compared to $287.1 million for the same quarter last year. Sales for the 2016 full year were $1,179.2 million, a 9 percent increase from $1,080 million for the 2015 full year.
The year-over-year increase reflected top-line growth in all key geographic regions, as well as the positive impact of Delta Galil’s diversified portfolio. This includes a significant increase in its branded activity, new businesses with strong global reach, and expansion of its retail activity in Israel and Germany.
Just last year, the company purchased 7 for All Mankind, Splendid and Ella Moss from VF Corporation in a $120 million deal. This acquisition has only improved the company’s business. “During the year, we made the successful acquisition of 7 For All Mankind, Splendid and Ella Moss, reflecting our strategic efforts to grow Delta Galil’s branded business and expand our global footprint,” said Isaac Dabah, CEO of Delta Galil. “These brands further diversify our product offering and distribution channels, while adding significant strength to our structure.
Dabah added: “We are very pleased with our results for 2016, which concluded with a particularly strong fourth quarter and reflected all-time high sales, operating profit and cash flow. We remain committed to investing in new products and resources to drive sustained profitable growth and long-term shareholder value, and are focused on attaining overall double digit EBITDA growth in 2017 and beyond.”
