Retail Sales

A record 1.23 million Israelis traveled abroad during the Tishrei holidays, boosting foreign retail and causing a 1.6% drop in local fashion sales amid strong currency and pent-up travel demand.

Sales in Nike's same-store locations continue to decline - in the second quarter they fell by approximately 9.5%, following a sharp decline of 17.7% in the first quarter. Retailors noted that the impact on Nike sales was partially offset through the participation of global Nike in operating expenses as well as through benefits in purchasing terms.