NiceOne's Q2 losses rise to 20M Riyals
The preliminary financial statements of Nice and Beauty E-Marketing Company indicate that its net losses during the second quarter of 2026 increased significantly by 1,448.16%, reaching 20 million riyals compared to a loss of 1.28 million riyals in the same period last year. The main reason for the rise in losses is a 13.45% decline in gross profit, which fell to 41.72 million riyals, despite improvements in purchasing efficiency and higher sales of private-label products. Marketing and administrative expenses also increased substantially, while revenues decreased by 2.12% to 188.26 million riyals due to intensified competition and a 15.6% drop in customer visits. The company also turned to loss in the first half of the year, amounting to 11.3 million riyals, after having recorded a profit of 23 million riyals in the same period of the previous year.
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