Fox Group,: record revenues in Q2 of NIS 995.9 million - Increase of 57.3%

The Fox Group, controlled by Harel Wiesel, publishes the second quarter reports for 2021, which show record profits for the group, which generated almost NIS 1 billion in this quarter.
The Group's revenues in the second quarter of 2021 (from the segment report based on 100% of activity and before adjustments) amounted to NIS 995.9 million, an increase of 57.3% compared to the corresponding period last year.
Data on identical store sales (during periods when stores were fully open) excluding closing periods increased in 2021 compared to the same period in 2019 in the fashion and home fashion sector by 1.0%, the atmosphere and grooming sector by 8.3% and in the sports sector by 20.5%.
Gross profit in the second quarter of 2021 amounted to NIS 623.1 million, which constitutes approximately 62.6% of sales, compared with gross profit of NIS 384.2 million, which constitutes approximately 60.7% of sales in the corresponding period last year, an increase of approximately NIS 238.9 million.
The improvement in gross profit was due to a decrease in purchasing costs due to the weakening of the average exchange rate of the dollar against the shekel, a mix of sales offset by an increase in shipping costs.
Operating profit in the second quarter of 2021 amounted to NIS 172.8 million and constitutes approximately 17.4% of sales, compared with operating profit of NIS 126.3 million last year, which accounted for 19.9% ​​of sales.
The operating profit in the second quarter of 2021, excluding the IFRS 16 standard, amounted to NIS 160.4 million, and constitutes approximately 16.1% of sales. Compared with operating profit excluding IFRS 16 in the amount of NIS 118.3 million, which constitutes approximately 18.7% of sales in the corresponding period last year, an increase of approximately NIS 42.2 million.
It should be noted that the increase in operating profit in the second quarter is despite the fact that the quarter last year was affected by a strong increase in sales after the first closure, in addition to a large reduction in main operating expenses during and after the closure.
The net profit in the second quarter of 2021 amounted to NIS 114.7 million, compared with a net profit of NIS 90.1 million last year.
The net profit in the second quarter of 2021, excluding the IFRS 16 standard, amounted to NIS 115.1 million, and constitutes approximately 11.6% of sales.