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Israeli supermarket chain Shufersal Q2 profit up
August 27, 2017 / 9:23 AM / 4 months ago

Israeli supermarket chain Shufersal Q2 profit up

TEL AVIV, Aug 27 (Reuters) -

* Shufersal, Israel’s largest supermarket chain, said on Sunday net profit rose in the second quarter, boosted by its private label products and online sales as well as cost cutting measures.

* The company posted net profit of 68 million shekels ($19 million), up from 62 million shekels a year earlier. Revenue slipped 2.3 percent to 3 billion shekels due to the timing of the Jewish holiday of Passover.

* Same store sales in the quarter fell 2.4 percent due to the Passover holiday.

* Shufersal is controlled by holding company Discount Investment Corp.($1 = 3.5937 shekels) (Reporting by Tova Cohen)

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