Victory Supermarket Reports 4% Revenue Drop in Q2 Despite Net Profit Growth

Victory supermarket chain, controlled by Eyal Rabid, reported a 4% decline in revenues for the second quarter of 2026, totaling 635 million shekels compared to 660 million shekels in the same period last year. This drop follows an exceptional 25% revenue increase in Q1, partly attributed to Passover sales and prior adjustments for sales to the Gaza Strip. Identical store sales fell by 5.5%, and excluding Gaza sales of 11.3 million shekels, the decline reached 7.4%. Despite lower revenues, gross profit decreased by only 2% to 157.3 million shekels, while operating profit rose 11% to 23.9 million shekels, boosted by proceeds from selling the Netanya branch. Net profit increased by about 10% to 10.5 million shekels compared to Q2 last year. Victory operates 69 branches, having opened one and closed two this year, with plans to open three more in the coming year. The company also expanded sales of electronics and home appliances, a segment expected to generate significant profit margins and sales growth. Meanwhile, in June, the legal phase began in a price-fixing case involving Rabid, accused of pressuring suppliers to raise competitors’ prices before approving his own price lists.