Shufersal profit up 88% in Q1

Shufersal

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Israel's largest retail chain was boosted by consumer spending on food and household goods due to the coronavirus crisis.

Israel's largest supermarket retail chain Shufersal Ltd. (TASE:SAE) report strong results for the first quarter of 2020, boosted by consumer spending on food and household goods during the Covid-19 crisis.

Revenue in the first quarter of 2020 was NIS 3.73 billion, up 18% from the corresponding quarter of 2019. Net profit in the first quarter of 2020 was NIS 90 million, up 88% from the first quarter of 2020.

Published by Globes, Israel business news - en.globes.co.il - on May 27, 2020