22 Hrs
Source:
الاقتصادية
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Jarir Beats Extra in Record Profits
Jarir, one of the largest electronics retail stores in the Middle East, achieved record profits during the third quarter of the year, reaching approximately 374 million riyals—an increase of over 15%. Revenue also grew by 8%, reaching 3.15 billion riyals. This was due to increased sales and improved profit margins, coupled with cost reductions and the halting of promotional offers, as well as the opening of new branches. These factors contributed to profits growing at a faster rate than sales. Jarir outperformed Extra in quarterly performance, as the latter recorded a 27% decline in profits. Jarir's margins improved compared to the decline in Extra’s, reflecting greater efficiency in cost management and success in focusing on higher-margin products.
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