Victory Reports Gaza Sales Boosted First-Quarter Revenue

Victory supermarket chain filed an addendum on Sunday to its first-quarter 2026 report, after a request from the Israel Securities Authority, revealing that a large share of its sales jump came from sales to the Gaza Strip. The company said quarterly revenue reached about 755.8 million shekels, up from about 603.7 million shekels a year earlier, a rise of 25.2%.

Victory said the increase was driven mainly by higher same-store sales, new store openings, the timing of Passover, holiday promotions, and stronger sales of electronics and home appliances. The unusual item in the report was about 99 million shekels in sales to Gaza. That changes the picture of the quarter significantly, because same-store revenue growth was 23% versus the prior year, but only 5.95% when Gaza sales are excluded.

Revenue per square meter showed the same pattern. In the first quarter of 2026 it stood at about 10.1 thousand shekels per square meter, compared with about 8.5 thousand a year earlier. Excluding Gaza sales, it was about 8.8 thousand shekels per square meter. In same stores, revenue per square meter was 10.1 thousand shekels, or 8.7 thousand without Gaza sales, versus 8.2 thousand a year earlier.

The background is a state mechanism for bringing goods into Gaza through private companies. In August 2025, the Coordinator of Government Activities in the Territories said the mechanism had been approved to resume private-sector imports into the Strip in a gradual, controlled way, to increase aid and reduce dependence on the UN and other international groups. Allowed goods included basic food, baby food, fruit and vegetables, and hygiene products. The mechanism later expanded to a pool of approved Israeli companies, including publicly traded Victory, whose suppliers had to meet the Food and Drug Administration law thresholds. Victory CEO Eyal Ravid told Globes, “We were the first to report that we were starting sales to Gaza, and there was no issue of lack of transparency. We have legal and accounting opinions showing that.” He added that even the adjusted figures show strong same-store growth. He also said other companies meet the state’s thresholds, and more grocery and retail chains may soon need to include Gaza-sales revenue in their first-quarter 2026 reports.