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Shufersal Stock Plummets 11% After Weak Second Quarter Results
Shufersal's stock dropped 11% after reporting weak second-quarter results, with revenues down 7.5% and same-store sales declining significantly. The company is undergoing restructuring and store conversions, while competitors show growth.
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What happened
- 01Shufersal stock fell 11%, losing 1.3 billion shekels in market value.
- 02Second-quarter revenues decreased by 7.5% to 3.4 billion shekels.
- 03Same-store sales declined over 8.5% in the last quarter.
- 04Competitors reported growth in sales and profits, unlike Shufersal.
- 05The company is converting stores to a new 'Universe' discount format.
- 06Analysts see potential for future recovery despite short-term weakness.
The coverage
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