Intimates and apparel manufacturer and marketer Delta Galil Industries, Ltd. reported record full year sales of $2.05 billion on Tuesday, on the back of a strong fourth quarter.
Delta Galil reports record $2 billion sales in 2024. – Delta Galil
The Tel Aviv, Israel-based company, which owns labels such as 7 For All Mankind, Schiesser and Eminence, and holds licenses for brands including Wilson, Columbia and Tommy Hilfiger, said fourth quarter sales increased 18% to $599.2 million, driven by growth in all segments, channels and geographies.
For the fourth quarter and year ended December 31, online sales of the company’s brands increased 22% and 21%, respectively.
Net income in the fourth quarter of 2024 was $29.5 million, compared to $37.8 million in the same period last year. Diluted earnings per share, increased 9% to $1.43 in the fourth quarter of 2024 compared to $1.31.
Net income in the full year 2024 increased 11% to $94.6 million, compared to $85.3 million in 2023. Diluted earnings per share, increased 18% to $3.82 compared to $3.25 in the same period last year.
“Delta’s strong fourth quarter financial results produced a record year of sales and robust profitability, reflecting our team’s resilience, creativity, and dedication inachieving excellent results,” said Isaac Dabah, CEO of Delta Galil.
“For the full year, I am proud to report that we exceeded our 2024 sales and EBITDA guidance, as we grew sales by 10% to over $2.0 billion, produced a record gross margin of 41.9% and expanded net income by 18% to $109 million. This performance generated strong operating cash flow excluding IFRS 16 of $153 million for the full year 2024. Strong profitability and operating cash flow also allowed us to return a record $33 million of dividends back to our shareholders, a 24% increase over the prior year.”
Looking ahead, the company expects 2025 full year sales to jump 4% to 6% reaching $2,118 to $2,165 million.
Unilever has filed its Q4 and full-year results and said that its underlying sales growth (USG) was 4.2%. But turnover on a reported basis was up only 1.9% at €60.8 billion.
Hourglass
Underlying operating profit jumped 12.6% to €11.2 billion, while reported operating profit was actually down 3.7% at €9.4 billion. For the fourth quarter USG increased 4% while turnover dipped 0.1% to €14.2 billion.
The news comes as it has also emerged that the company is close to announcing the purchase of plastics-free premium cosmetics brand Wild.
The six-year-old brand could be acquired from its founders and early-stage investors in a £230 million deal, which would be one of the firm’s most significant acquisitions for a while.
Wild sells refillable personal care products on a DTC basis with its most recent account (for 2023) showing sales up 77% at almost £47 million.
Back with Unilever’s results, the underlying and reported figures differ as the company continues to reshape its business, most particularly it’s demerging its giant Ice Cream operations with a separate stock exchange listing for them.
Looking specifically at the two divisions relevant to us — Beauty & Wellbeing and Personal Care — the former saw USG up 6.5% with reported turnover up 5.5% at €13.2 billion. The latter increased USG by 5.2%, but fell 1.5% on a reported basis to €13.6 billion. The two divisions account for 22% of group turnover each.
Beauty & Wellbeing delivered a strong full-year performance, with the underlying sales rise divided into a volume increase of 5.1% and price rises accounting for 1.3%. Volume growth was broad-based with strong performances from its Power Brands including Sunsilk, Dove, Vaseline, Ponds, Liquid I.V. and Nutrafol.
In Q4, Beauty & Wellbeing grew 5.2% with a 3.9% volume uplift.
The full-year performance reflects the ongoing premiumisation of its core Hair Care and Skin Care portfolio and the continued strength of its Prestige Beauty and Wellbeing portfolio, which combined, accounted for around 30% of Beauty & Wellbeing’s turnover.
That said, Prestige Beauty grew in ‘only’ mid-single-digits reflecting a slowdown in the US beauty market. Hourglass and Tatcha grew in double-digits while other brands including Paula’s Choice delivered low growth.
During the year, it completed the acquisition of K18, a premium biotech hair care brand, which grew in double-digits and will be included in underlying sales growth from February 2025.
Underlying operating margin improved 70bps with strong gross margin improvement partially reinvested in increased brand and marketing investment.
In Personal Care, Dove, which makes up 40% of the division’s turnover, grew in high-single-digits with the successful launches of a new range of whole-body deodorants and a serum shower collection, using active face care ingredients in body wash formats.
Skin Cleansing grew in low-single-digits with volume and price rises. Good growth in Dove was partially offset by declines in Lifebuoy and Lux, driven by challenges in Indonesia, China, and India.
U.S. President Donald Trump said he would impose reciprocal tariffs as soon as Wednesday evening on every country that charges duties on U.S. imports, in a move that ratchets up fears of a widening global trade war and threatens to accelerate U.S. inflation.
Reuters
“I may do it later on or I may do it tomorrow morning, but we’ll be signing reciprocal tariffs,” Trump told reporters at the White House.
Trump’s latest round of market-rattling tariffs comes as Indian Prime Minister Narendra Modi is due to visit the White House on Thursday. The Trump administration has complained that India has high tariffs that lock out U.S. imports.
Republican U.S. House of Representatives Speaker Mike Johnson told Reuters that he believed Trump is considering exemptions that would include the automotive and pharmaceutical industries, among others, but said he was not certain.
Economists broadly see tariffs as an inflation risk, and data released on Wednesday showed consumer prices increased in January by the most in nearly 1-1/2 years. The president has already stunned markets by announcing tariffs on all steel and aluminum imports beginning on March 12. That drew condemnation from Mexico, Canada and the European Union, while Japan and Australia said they were seeking exemptions from the duties.
The news sent industries reliant on steel and aluminum imports scrambling to offset an expected jump in costs.
The EU will prioritize negotiations over retaliatory countermeasures for now in an effort to avoid a damaging trade war, officials signaled earlier on Wednesday. An EU government official said ministers considered reinstating countermeasures imposed in 2018 on products like bourbon and Harley-Davidson motorcycles in response to Trump’s tariffs on steel and aluminum.
EU trade chief Maros Sefcovic spoke on Wednesday with Hassett, Commerce Secretary-designate Howard Lutnick and U.S. trade representative nominee Jamieson Greer.
Last week, Trump imposed an additional 10% tariff on Chinese goods, effective February 4, with Chinese countermeasures taking effect this week.
He delayed a 25% tariff on goods from Mexico and Canada until March 4 to allow negotiations over steps to secure U.S. borders and halt the flow of the drug fentanyl.
Some U.S. workers have welcomed the metal tariffs, but manufacturing firms have warned the hike would reverberate across supply chains and lead to higher prices. Europe’s steelmakers are also worried that U.S. tariffs will lead to a flood of cheap steel into Europe.
Canadian Prime Minister Justin Trudeau, speaking to reporters in Brussels, said some Americans would lose their jobs and U.S. growth would suffer from Trump’s metals tariffs.
Rarewolf, a Scottish fashion brand co-founded by actor Barry Keoghan, is undergoing dissolution proceedings a year after its establishment. The company, incorporated in October 2023, is subject to removal from Companies House records due to inactivity and failure to file required documentation.
Barry Keoghan’s Fashion Venture Faces Dissolution – The National
Initially registered with the intention of offering luxury apparel through select retailers, the company never moved beyond its incorporation phase. Rarewolf did not develop an e-commerce platform, engage in marketing efforts, or establish a presence on social media. Additionally, no retail distribution agreements were announced, and there were no indications of product launches or brand positioning within the industry.
In early 2024, Keoghan resigned from the board of directors, marking a shift in the company’s leadership. Despite his initial involvement, there were no public statements outlining Rarewolf’s business strategy, product development, or future plans. No transactions, investor funding, or retail collaborations were reported during its brief existence.
As a result of the company’s inactivity, Companies House issued a strike-off proposal, a process that applies to businesses that fail to meet filing requirements. This is a standard procedure for companies that do not maintain legal compliance or show operational activity. Without intervention, Rarewolf is set to be formally dissolved in the coming months.
The fashion industry frequently sees brands launched by public figures, often through licensing agreements or direct-to-consumer models. Some of these brands achieve longevity through strong retail partnerships and brand identity, while others struggle to gain traction. Rarewolf did not publicly disclose its operational structure or how it intended to compete in the market before entering dissolution proceedings.
Retail distribution is a key factor in the growth of emerging fashion brands. Many new labels secure placements in department stores, multi-brand retailers, or e-commerce platforms to expand their reach. However, there were no reports of Rarewolf pursuing any retail agreements or developing a direct sales strategy.
In addition to retail distribution, digital marketing plays a crucial role in brand visibility. Social media platforms, influencer collaborations, and online campaigns have become industry standards for engaging with consumers. Unlike other brands that use these strategies to build awareness, Rarewolf did not launch digital platforms, implement marketing campaigns, or engage in press outreach initiatives.
Keoghan’s Fashion Brand Rarewolf Set for Removal from Records – Vogue
Beyond visibility, financial planning is an essential component of sustaining a fashion brand. Some companies secure external investment, while others rely on early revenue generation to maintain operations. Rarewolf did not report securing financial backing, revenue streams, or any funding initiatives before dissolution proceedings began.
The closure of a company can result from various factors, including market conditions, financial challenges, or strategic redirection. While many businesses that shut down provide statements explaining their decisions, no public remarks have been made regarding Rarewolf’s dissolution or any potential future activities.
Meanwhile, Keoghan continues his career in the entertainment industry, with recent performances in award-nominated productions. His association with Rarewolf was limited to its early stages, and no further involvement was documented after his resignation from the board.
With no indication of attempts to restore the company’s active status or transfer ownership, Rarewolf’s removal from Companies House records is expected to proceed as scheduled. Unless an appeal or intervention is made, the dissolution process will be finalized in the coming months, closing the chapter on the brand’s brief existence.