After 21 years, Shufersal CEO Itzik Aberkhan will end his position next week and will be replaced by Ofer Bloch. Some offers in the private market, and he is expected to choose an offer in which he will be part of the control.
Aberkhan told Maariv: “The terms of retirement were agreed by the compensation committee, and I did not have time to examine them with the professionals. In the coming days, I will sit down with them and make the decision.” He added that regarding the future, “I am examining a number of proposals from a number of sources and meeting with quite a few people.” Abercrombie expressed satisfaction with the chain’s results and added that the decline in sales was explained by the unusual sales volume, which was higher than usual at the time of the Corona.
In his remarks, Aberhahn said that he is not excited about the entry of the Carrefour network into Israel. “We are used to challenges. We have always known how to evaluate competitors and produce growth engines and so on. I know Carrefour and the network from Dubai that is interested in entering Israel. We stayed with it and we will know how to adapt.”
In response to the news about the future of control of the company, chairman Yaki and Damani told Maariv: “The company operates without a core of control and behaves in front of all the institutions as if they were one family. We are committed to everyone and operate according to the corporate governance at the highest level. We can not prevent bidding. The board of directors is guided solely by considerations of the good of the company. “
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The Shufersal Group ended 2021 with a profit of NIS 393 million – an increase of 2% compared to 2020. Profit constitutes 2.7% of revenue. In the fourth quarter, the profit decreased by 17% to NIS 100 million. The company will distribute NIS 140 million as a cash dividend. The data also show that revenues fell by 3.1% to NIS 14.8 billion, and that in the fourth quarter they fell by 6.7% to NIS 3.6 billion – in part because of the damage caused by the ultra-Orthodox Mehadrin network affair.
Shufersal Online’s sales amounted to NIS 2.8 billion, accounting for 20.5% of total sales. Private label sales totaled NIS 3.8 billion and account for 26.6% of total food retail sales, compared with 25.8% in 2020.
Recently, Shufersal has raised the prices of the private label and received criticism. The CEO explained that the price increase was intended to encourage the entry of private producers. According to the data, the revenues of the Pharm chain increased by 18.5% to NIS 966 million. The operating profit of the Be chain amounted to NIS 9 million, compared to an operating loss of NIS 19 million in 2020.