Shufersal profit up 88% in Q1

Shufersal

Cabinet approves budget cut despite Smotrich's opposition

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