Brill Group’s sales turnover in 2022 amounted to NIS 565.2 million, compared to a total of NIS 548m. in the corresponding period in 2021 – an increase of approximately 3.1%, the group announced on Wednesday.
The group specializes in fashion and footwear, and is the operator of the Gali, Lee Cooper, Nine West, Nautica, Timberland, Show/Off and Emporium chains.
The sales turnover in the fourth quarter of 2022 amounted to NIS 145.8m., compared to a total of approximately NIS 162.3m. in the corresponding period in 2021 – a decrease of about 10.2%.
The net profit during the reporting period amounted to NIS 30.1m., which is a rate of approximately 5.3% of sales compared to a total of NIS 49m. and an increase of 8.9% in the corresponding period the year before, respectively.
“The company is ending the year 2022 with moderate growth in the scope of its activity, noting that the year 2021 was characterized by increased sales due to pent-up demand that accumulated during the quarantine period that took place in the first quarter of that year,” Brill CEO Yehuda Elbaz said.
“Along with the increase in the sales cycle, there was an erosion in profitability resulting from the increased costs throughout the supply chain due to the high inflation, a sharp increase in interest and the prolongation of summer sales due to the hot weather that prevailed during the fourth quarter of 2022 and led to a deepening of discounts and a decrease in sales.”