Israeli supermarket retailer Blue Square has reported a near 50% dive in third-quarter net profit.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The operator of Israel’s second-largest supermarket chain posted net profit of 25.3m shekels (US$5.4m), compared to 43.7m shekels a year earlier. The fall in profit was attributed to the deepening recession, a decline in food prices and increased competition.
In the third quarter, Blue Square’s revenues fell 10.5% to 1.41bn shekels, while same store sales fell by 13.5%. Earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to 94m shekels.
Blue Square’s main rival, Super-Sol, posted a 64% dive in third-quarter net profit earlier this month, reported Reuters.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
