Second Quarter Revenue Increased 25.4% to ILS 316.9 million; Comparable Store Sales Increased 14.5%; GAAP Net Income (Attributable to Shareholders) Increased 55.4% First Half Revenue Increased 18.3% to ILS 630.1 million; Comparable Store Sales Increased 8.9%; GAAP Net Income (Attributable to Shareholders) Increased 37.6% CAESAREA, Israel, Aug. 14, 2024 /PRNewswire/ -- Max Stock Limited (TASE: MAXO) (the "Company") today reported financial results for the second quarter and six months ended June 30, 2024. Second Quarter 2024 Summary Revenue increased 25.4% to ILS 316.9 million. Comparable store sales increased 14.5%. Gross margin increased 50 basis points to 41.7%. GAAP Net income (attributable to shareholders) increased 55.4% to ILS 25.8 million. Adjusted Net income1 (attributable to shareholders) increased 62.2% to ILS 25.8 million. Adjusted EPS1 (attributable to shareholders) increased 61.4% to ILS 0.18. Adjusted EBITDA2 increased 48.9% to ILS 44.8 million. First Half 2024 Summary Revenue increased 18.3% to ILS 630.1 million. Comparable store sales increased 8.9%. Gross margin increased 70 basis points to 42.0%. GAAP net income (attributable to shareholders) increased 37.6% to ILS 51.7 million. Adjusted Net income1 (attributable to shareholders) increased 40.6% to ILS 51.8 million. Adjusted EPS1 (attributable to shareholders) increased 40.0% to ILS 0.37. Adjusted EBITDA2 increased 31.3%. "We delivered a very strong first half with topline growth in the high teens, including a high single digit gain in comparable store sales, and adjusted EBITDA up 31.3% compared to the first half of 2023," said Ori Max, Chief Executive Officer. "The second quarter contributed significantly to our year-to-date performance fueled by a 14.5% increase in comparable store sales, as our position as Israel's premiere extreme value retailer continues to resonate with consumers in the current operating environment. In parallel, we added almost 8,000 net square meters, or approximately 13%, of selling space over the past 12 months as we continue to successfully execute our store expansion strategy. Our top line growth also drove improved procurement terms as well as significant operating leverage, which resulted in a 37.6% increase in GAAP net income (attributable to shareholders) in the first half of 2024." Second Quarter Results (2024 compared with 2023) Revenue increased 25.4% to ILS 316.9 million in the second quarter 2024 as compared with revenue of ILS 252.8 million in the second quarter 2023. The increase over the same period last year was largely attributable to the opening of new branches which added approximately 7,700 net square meters of selling space compared to the year-ago period, combined with a 14.5% increase in comparable store sales largely driven by increased store traffic and a shift in timing of the Passover holiday into the second quarter of ...