Delta Galil Industries, the Tel Aviv-headquartered manufacturer of branded and private label apparel, increased its online sales by 130% in 2020 – and by 183% in the fourth quarter of the year – but this proved insufficient to offset losses from retail volumes.

“Without a doubt, 2020 represented an unprecedented year for Delta Galil, as Covid-19 forced us to rethink ways in which we conduct business,” said CEO Isaac Dabah. “During the year, Delta acquired online intimates retailer Bare Necessities and we will continue to look for new ways to excel digitally.”

Overall sales for the company in 2020 were $1,446.2 million, compared to $1,690.2 million for the same period last year, representing a 14% decrease. E-commerce sales were $152.5 million.

The company reported an operating loss of $7.1 million, compared to operating profit of $103.7 million for 2019. Net loss was $40.5 million, compared to net income of $57.7 million, but excluding one-time items, net income was $3.8 million for 2020 compared to $60.2 million for 2019.

www.deltagalil.com