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Source:
الاقتصادية
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Jareer Predicts Q4 Profit Growth
Mohammed Al-Aqeel, Chairman of Jarir Marketing Company, forecasted a growth in the company's profits during the fourth quarter of this year after launching new products, including Apple devices, which contributed to improved results. He pointed out that the reduction of discounts was a response to current market conditions characterized by a supply shortage, emphasizing that this measure is temporary and not a long-term strategy. Despite a 30% increase in computer prices, which negatively impacted sales, the company recorded a 7.8% increase in sales, along with approximately a 6% rise in the average basket size. This growth was driven by higher smartphone sales. The company's operations focus on retail, wholesale, and e-commerce within Saudi Arabia and the Gulf markets.
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