Delta Galil withdraws FY25 guidance despite record Q1 sales

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r=i._config.panel;i._panelParentNode=document.querySelector(r.parentSelector),i._badgeNode=i._config.badge.selector&&document.querySelector(i._config.badge.selector),i._indicatorNode=r.indicatorSelector&&document.querySelector(r.indicatorSelector)}return k(e,[{key:"createPanelParentNode",value:function(){this._view.createPanelParentNode(this._panelParentNode),this._notifPanelNode=document.getElementById(P)}},{key:"refreshPanelNode",value:function(e,n){var t=this;C(t._notifPanelNode,q),t._store.fetchNotifications(e,(function(e,o){var i=window.wafer&&window.wafer.base;i&&i.destroy(t._notifPanelNode),e?t._notifPanelNode.innerHTML||(t._view.render("error_panel"),C(t._notifPanelNode,q)):(t._view.render("expanded_panel"),t._view.updateBadgeNode(t._badgeNode),t._showBadge(),t._showIndicator(),t._view.addStyles(o.css)),M(t._notifPanelNode,q),i&&i.sync(t._notifPanelNode.parentNode),n&&n(e,o)}))}},{key:"resetBadge",value:function(){var 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It said the forecast presented in its Annual Report for 2024 did not consider the newly implemented US import tariffs.Working in conjunction with vendors and customers to distribute the cost implicationsUsing its extensive international network of production facilities and partnershipsShifting manufacturing operations away from ChinaIntensifying efforts to expand market share through an increased presence in Egypt, leveraging the country's lower tariff rates.The company also forecasts a potential increase in retail prices during the second half of 2025 as tariff-related expenses are passed along throughout the supply chain.Moreover, it is expediting its cost-reduction initiatives with an aim to realise savings between $5m and $7m.Delta Galil has also indicated that approximately 30% of its current revenue is subject to the effects of US tariffs. It anticipates the impact of these tariffs will not surpass $20m in 2025.The first quarter saw a 21% rise in online sales for Delta Galil's proprietary brands.Delta Galil CEO Isaac Dabah said: “Delta delivered record first quarter sales, reflecting strong momentum across all segments and retail channels. Our top-line performance underscores our efforts to fuel the growth of our brands and partners through exceptional design and a relentless focus on innovation, quality and sustainability.”In the first quarter, Delta Galil's gross profit was $202.59m, a 6% increase from $190.49m in the first quarter of 2024.However, gross margin declined to 40.6% from 42.3% in the same period last year, with higher freight costs, foreign currency exchange rates impacting by 90 basis points, and reduced export subsidies in Egyptian operations contributing to this decrease.Delta Galil's earnings before and taxes (EBIT) for the first quarter stood at $32.68m, marking a 26% increase from $25.99m in the previous year's first quarter. The EBIT before non-core items also rose by 11% to $32.68m from $29.35m year-over-year. This increase was mainly due to higher sales volumes and controlled operating expenses.Net income for Delta Galil also surged by 46% to $17.60m compared to $12.05m in the same period last year. Excluding non-core items after tax adjustments, net income for the first quarter increased by 22% to $17.60m from $14.49m in the first quarter of 2024.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5005,911.69 -0.48 (-0.01%)Dow 3042,270.07 +54.37 (+0.13%)Nasdaq19,113.77 -62.13 (-0.32%)Russell 20002,066.29 -8.49 (-0.41%)VIX18.57 -0.61 (-3.18%)Gold3,313.10 -30.80 (-0.92%)PortfolioSign in to access your portfolioSign inTop gainersRGC Regencell Bioscience Holdings Limited 877.00 +136.02 (+18.36%)PONY Pony AI Inc. 19.26 +2.11 (+12.30%)ULTA Ulta Beauty, Inc. 471.46 +49.67 (+11.78%)MP MP Materials Corp. 21.79 +2.02 (+10.22%)ZS Zscaler, Inc. 275.70 +24.59 (+9.79%)Top losersSMMT Summit Therapeutics Inc. 18.22 -7.99 (-30.50%)GAP The Gap, Inc. 22.31 -5.64 (-20.18%)REGN Regeneron Pharmaceuticals, Inc. 490.28 -115.11 (-19.01%)AMBA Ambarella, Inc. 52.64 -9.36 (-15.10%)COO The Cooper Companies, Inc. 68.28 -11.68 (-14.61%)Most activeNVDA NVIDIA Corporation 135.13 -4.06 (-2.92%)LCID Lucid Group, Inc. 2.2300 -0.1800 (-7.47%)PLTR Palantir Technologies Inc. 131.78 +9.46 (+7.73%)F Ford Motor Company 10.38 +0.16 (+1.57%)TSLA Tesla, Inc. 346.46 -11.97 (-3.34%)Earnings eventsTrending tickers^GSPC S&P 500 5,911.69 -0.48 (-0.01%)BTC-USD Bitcoin USD 103,604.51 -2,311.32 (-2.18%)PLTR Palantir Technologies Inc. 131.78 +9.46 (+7.73%)^DJI Dow Jones Industrial Average 42,270.07 +54.37 (+0.13%)CLF Cleveland-Cliffs Inc. 5.83 -0.07 (-1.19%)Top economic events