Live Breaking News & Updates on Shufersal Real Estate|Page 3

By Reuters Staff
2 Min Read
JERUSALEM, March 3 (Reuters) - Shufersal, Israel’s largest supermarket chain, reported a 2.6% rise in quarterly profit, boosted by a jump in revenue from higher online sales mainly due to the coronavirus pandemic that kept many shoppers home.
Shufersal said on Wednesday it earned 120 million shekels ($36.5 million) in the fourth quarter, compared with 117 million a year earlier. It noted net profit grew 87% year-over-year excluding one-time items.
Revenue in the October-December period rose 15.9% to 3.9 billion shekels.
In all of 2020, revenue grew 14% to a record 15.2 billion shekels, with online sales growing to 20% of total sales from 15% in 2019. At the same time, its own private brand which is now Israel’s fourth-largest food brand reached nearly 26% of its sales, with a target of 30%. ....

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