Shufersal announced earning results for the fourth quarter of 2016. For the quarter the company reported revenue was ILS 2.9 billion down 1.9% from the corresponding quarter of 2015. Net profit was ILS 96 million in the fourth quarter of 2016, up from ILS 77 million in the corresponding quarter. Shufersal attributed the better results to higher sales of private label products, which now amount to more than 20% of all sales.