Castro fashion reports revenues of NIS 282 million in the fourth quarter - a decrease of 40%

The Castro fashion company reports revenues of NIS 282 million in the fourth quarter, compared to revenues of NIS 471 million in the corresponding quarter last year - a decrease of 40%. Operating profit for the quarter amounted to NIS 25 million, compared with NIS 2 million in the corresponding quarter, an increase of 12.5%.
The company's revenues amounted to NIS 1.2 billion, compared to revenues of NIS 1.7 billion last year. Operating profit amounted to NIS 68 million, compared with a loss of NIS 23.5 million last year. The net loss in 2020 amounted to NIS 13 million, compared with a loss of NIS 85 million last year, excluding Accounting Standard No. 16, the net profit from continuing operations in 2020 is approximately NIS 5.1 million.
Because the physical stores were closed during the closures, the company's e-commerce activity grew. "The online business has expanded significantly because people had no choice but to buy online," says Castro CEO Ron Rotter. "The sites may not be able to restore online performance in 2021 because stores were open, but online sales will be higher relative to -2019 ".
In the coming year, Castro plans to expand its activities to the field of "home design", they are expected to open up to 20 Home Styling stores this year, and in the next five years to reach a layout of 50-80 stores. Ron Rotter on expanding the company's operations: "Over the past year, the Castro-Hoodis Group has continued its activities to expand and grow its business. With the opening of trading on February 21, we launched a new format for the Urbanica chain of stores, which will gradually be reflected in a wide range of stores." Home fashion (textiles and housewares) under the Castro HOME brand. In the Castro fashion brand, we have developed and launched new fashion categories (RELAXED home fashion and MOTION sports fashion) with the construction of a new design studio and appointments of new fashion designers. "Hoodies, Carolina Lemke, Urbanica, Kiko Milano, Yves Rocher and Top Ten) recorded a record 26 million entries and crossed the NIS 150 million revenue mark, making the team one of the major players in the online sales market in Israel.