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Nice One's loss hits 20M riyals in Q2
Nice One Beauty's electronic marketing company’s results indicate that its net losses for the second quarter of 2026 amounted to 20 million riyals, representing a 1,448.16% increase compared to the same period last year. The company shifted from profit to loss due to a 13.45% decline in gross profit, which fell to 41.72 million riyals, alongside increased indirect costs and marketing and administrative expenses. Despite efforts to improve efficiency, expansion of retail stores and reduced customer visits led to a 2.12% decrease in revenue, down to 188.26 million riyals. Increased expenses and inventory provisions significantly contributed to the worsening of losses. The company also recorded a net loss of 11.3 million riyals for the first half of the year, compared to a net profit of 23 million riyals in the same period in the previous year.
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