Delta Brands has closed 2024 on a high note, reporting a substantial 26% increase in revenue, reaching NIS 1.2 billion, while net profit surged by 37% to NIS 159 million compared to the previous year. The company also announced that its board of directors has approved a dividend distribution of NIS 30 million for the fourth quarter of 2024, adding to the NIS 264 million already distributed throughout the rest of the year. This includes a special dividend of NIS 200 million, driven by the company’s strong cash flow and high profitability over the past two years.
Delta’s revenue for the fourth quarter grew by 19%, totaling NIS 377 million. However, the company reported a slight dip in net profit, which decreased by 6% to NIS 60.6 million during the same period.
CEO’s Salary and Performance
Anat Bogner, CEO of Delta Brands, earned NIS 3.4 million in 2024, which included a NIS 1.08 million share-based payment and a NIS 617,000 bonus, reflecting her leadership in the company’s strong performance.
Same-Store Sales and Online Growth
Annual same-store sales across Delta’s 201 retail locations, including the online sites for Delta, Pix, Fanta Ray, and Victoria's Secret brands, saw a robust 19% increase compared to 2023. Excluding online sales, in-store sales grew by 17.8% in 2024.
Delta saw significant growth in its retail operations, particularly through expanding its new international brands. Sales from the company's retail sites, including the newly launched Bath & Body Works brand in April 2024, reached NIS 176.5 million in 2024, marking a 29% increase from the previous year. These sales now account for 14.4% of Delta's total sales, compared to NIS 136.5 million in 2023.
Delta plans to expand further with the opening of 24 new stores across all its brands in 2024, and aims to operate 277 stores by December 2027.
Victoria's Secret Record Significant Growth
Delta's recent expansion into international brands Victoria’s Secret and Bath & Body Works contributed significantly to the company’s success. The operations for these brands, which began in December 2022 with online stores and expanded in April 2024 with physical stores, generated NIS 108 million in sales in 2024—a 500% increase compared to 2023 when only the Victoria's Secret online store was operational.
International Brand Sales Outpace Lingerie Stores
The average monthly revenue in Delta’s international brand stores, including Victoria’s Secret and Bath & Body Works, was NIS 3,832 per square meter, compared to NIS 2,235 per square meter for its lingerie stores. The higher sales performance was driven by strong demand for new cosmetics products from both Victoria's Secret and Bath & Body Works, which have a higher gross profit margin than
Looking ahead to 2025, Delta plans to continue expanding its footprint with the opening of four more Victoria's Secret stores and nine additional Bath & Body Works stores. With continued demand for its high-margin products, Delta is poised for sustained growth in the coming year.