Harel Wiesel strikes again: After the IPO, Retailers’ revenue doubled

Harel Wiesel strikes again: After the IPO, Retailers’ revenue doubled
Harel Wiesel strikes again: After the IPO, Retailers’ revenue doubled
Harel Wiesel Fox (Photo by Dima Tliansky)

Last May, Harel Wiesel was the right-wing marker in the flood of new issues. While the capital market is flooded with new companies some of which will wipe out a lot of money to the public, Retailers is already bearing fruit.

Retailers, of the Fox Group, is engaged in retail sales of footwear, sportswear and sports accessories in Israel, Canada and Europe, ending the second quarter of the year with revenues of almost NIS 247 million, which is almost double the revenues in the corresponding quarter last year. Operating profit in the second quarter amounted to NIS 25 million (10.4% of revenues), compared with NIS 17.7 million (14.1% of revenues) in the corresponding quarter last year, an increase of 41%, but the profit margin relative to sales eroded.

During the second quarter of the year, the company completed an IPO and received an investment from Pot Locker, which currently holds approximately 10% of its shares. The number of the company’s stores in Israel and abroad has increased compared to the same period last year, from 89 to 126 stores as of the end of the second quarter of the year.

Last July, the company acquired 5 local Nike franchisee stores in Hungary, the Czech Republic and Slovakia, and during the last quarter, the company established new Nike brand stores in Norway and Sweden as well.

Dubi Schneidman, CEO of Retailers: “We are continuing the company’s growth and expansion strategy in Israel and abroad. Sports and fitness, which will allow us to develop into new and complementary content worlds in the field of sports. “

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Harel Wiesel strikes IPO Retailers revenue doubled

 
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