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The third quarter monetary outcomes of Carrefour-Yeinot Bitan, which is operated by Electra Shopper Merchandise (TASE: ECP) present income development and a narrowing loss.
Electra Shopper Merchandise, managed by Daniel and Michael Salkind’s Elco (TASE: ELCO), reported income of NIS 2.3 billion, within the first 9 months of 2023, up 7.6% from the corresponding quarter of 2022. Third quarter income was NIS 865 million, up 17.2% from the corresponding quarter of 2022.
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Within the third quarter of 2023, dozens of Carrefour Israel branches have been working. In response to the outcomes, gross sales within the branches that had been transformed from Yeinot Bitan branches to the French chain rose 47.1%. Gross sales per sq. meter within the meals sector within the third quarter, which additionally included branches of the 7-Eleven comfort retailer franchise, however is especially targeted on Carrefour Israel, amounted to NIS 28,000 per sq. meter on a mean annualized foundation, up from NIS 23,800 within the corresponding quarter of 2022.
Electra Shopper Merchandise reported that gross sales per sq. meter of simply Carrefour Israel branches between Might and September, on a mean annualized foundation, was NIS 39,500 per sq. meter, up 45% from earlier than the shops have been transformed.
The constructive shock from Electra Shopper Merchandise viewpoint was that within the third quarter of 2023, the loss within the meals retail sector narrowed to only NIS 7 million, in contrast with NIS 51 million earlier than the shops have been transformed to Carrefour. Electra Shopper Merchandise that the loss within the third quarter was aggravated by the 7-Eleven comfort shops, that are nonetheless being refurbished forward of their opening.
In response to the corporate, there are at the moment 72 Carrefour shops in Israel and three extra branches can be opened by the tip of the yr.
Printed by Globes, Israel enterprise information – en.globes.co.il – on November 27, 2023.
© Copyright of Globes Writer Itonut (1983) Ltd., 2023.
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