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Alsaif profit drops 82.6%

Alsaif profit drops 82.6%

Al Saif Stores for Development and Investment (“Al Saif Gallery”) reported an 82.65% decline in net profit in the third quarter of 2026, to SAR 2.24 million, compared with SAR 12.94 million in the same period a year earlier. Sales fell 7.36% to SAR 192.56 million. The company attributed the decline to shortages of some products, disruptions to supply chains, higher shipping costs, and slower consumer spending. In the first nine months of the year, sales rose 5.91% to SAR 604.33 million, while net profit fell 14.86% to SAR 42.19 million.

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