Israeli retailer Blue Square-Israel has reported a net loss for the latest quarter, compared with a year-ago profit, as sales were hit by the recession and increased competition.
Go deeper with GlobalData
The company posted a net loss of NIS17.2m (US$3.9m) for the third quarter to 30 September, compared to a net profit of NIS24.8m in the year-ago period.
Excluding one-time provisions for employee layoffs and fixed asset impairment, which amounted to NIS36.6m after taxes and minority interest, net income for the third quarter would have been NIS19.4m, the company said.
Third-quarter revenues were NIS1.34bn, compared to NIS1.38bn a year earlier. Same-store sales fell 9.9%.
“The reduction reflects the ongoing recession in Israel and increasing competition,” the company said.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
