Wiesel: "It's impossible to know what will happen after the elections, I prefer to keep money in the till"

Fox Group finished the second quarter with a surge in profits, thanks to its fashion and home fashion activities and Terminal X, despite weakness at Retailors. Revenues rose 12.8% to a record NIS 1.8 billion, operating profit grew about 30%, and net profit jumped 75.5%. The group declared a dividend of NIS 150 million. CEO Harel Wiesel addressed challenges in Canada, the strategy for the Nike brand, and changes at the Jumbo chain.

Fox Group, led by controlling shareholder Harel Wiesel, published its results for the second quarter of 2026, showing a jump in profits despite weakness in the sports arm Retailors. Revenues rose 12.8% to a record NIS 1.8 billion, operating profit grew about 30% to NIS 223 million, and net profit jumped 75.5% to NIS 123 million. The group announced a dividend distribution of NIS 150 million. The leading segments were fashion and home fashion, with a 15.3% increase in revenues to NIS 570 million, and Terminal X, which posted a 20.5% increase in sales to NIS 161 million. In contrast, Retailors continued to weigh heavily with a 1.3% decline in sales to NIS 594.4 million. In an investor call, Wiesel addressed challenges in Canada, where eight Fox Home stores were closed and converted to Flying Tiger stores. He said expansion in Nike stores would be cautious due to the brand's global difficulties. At the Jumbo chain, which has shifted strategy to smaller stores of 1,200 square meters, changes in the supply chain are expected to reduce costs. Wiesel explained the relatively low dividend by saying it's impossible to know what will happen after the elections, and he prefers to keep money in the till. The group also announced the appointment of Oren Brent as Chief Data Officer.

Wiesel: "It's impossible to know what will happen after the elections, I prefer to keep money in the till"