Maximize your media exposure with our single PR package
Delta Galil posts Q1 FY20 sales of $333 mn
30 Jun 20 1 min read
Delta Galil, a US-based manufacturer of branded and private label apparel products, posted 9 per cent sales decline to $332.7 million in its first quarter (Q1) FY20 ended on March 31, 2020 compared to $365.3 million in same period prior year. Company incurred a net loss of $30.5 million during the quarter compared to net income of $3.0 million in Q1 FY19.
Advertisement
Operating loss for the reported quarter was $28.8 million compared to operating income of $10.4 million in Q1 FY19. Gross profit were $113.7 million (Q1 FY19: $130.3 million).
The company stated that despite the increase in sales due to the Bogart acquisition completed in July 2019, as well as rising web and e-commerce customer sales, its Q1 FY20 sales were adversely affected by the Covid-19 pandemic.
“These are truly unprecedented times, where our business and Q1 results have been significantly impacted by the Covid-19 pandemic. That said, we’ve seen a sustained increase in e-commerce sales in all of our operating segments, demonstrating the continued strength of our diversified business and omni-channel model,” Isaac Dabah, CEO of Delta Galil, said in a press release.
Fibre2Fashion News Desk (JL)
Popular News
|
|
US trade bodies against tariff hike on apparels from 5 countries |
|
|
ICE cotton prices fall further amid weak sentiments, demand concerns |
|
|
Bearish trend in north Indian cotton yarn market, prices decline |
|
|
Vietnam’s textile & apparel sector sees FDI revival: Reports |
|
|
Bangladesh mulls VAT exemption for recycled fibre industry |
|
|
Global sports company Puma & Scuderia Ferrari launch new collection |
