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. 

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.