20 Hrs
Source:
الاقتصادية
Competition and marketing boost Nice One\'s losses
Nice One Marketing Company's losses inflated by over 1,448% in the second quarter of 2026, reaching 20 million riyals compared to 1.3 million riyals in the same period last year. This increase is attributed to a rise in the slow-moving inventory provision to 8.8 million riyals and higher indirect costs associated with expanding retail stores, which led to a decline in gross profit and its margin. Marketing expenses also grew by 33% to counteract competition, with sales and marketing costs rising by 19.2% and administrative expenses increasing by 33.14%. Despite a 2% decrease in quarterly revenue to 188 million riyals, the company attempted to mitigate the decline by boosting store sales revenue by 4.7%. However, intense competition continues to significantly impact its performance.
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