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FINANCIAL NEWS
Saudi Alhokair plans 400 new stores
26 Oct 2011
(MENAFN) Saudi Fawaz Abdulaziz Alhokair Co said it will open 400 new stores over the next two years, Arabian Business reported.
Abdulmajeed Alhokair, president of the giant retail chain expected stronger growth this year and next year compared to 2010.
Alhokair, whose 90 percent sales are from stores in Saudi Arabia, expected foreign sales to grow by 30 percent next year as more shops opened.
Fawaz Alhokair has 75 franchises in the Middle East, including Zara , Marks & Spencer’s, Gap, Aldo, Monsoon, Accessorize and Topshop, and 1,300 stores worldwide.
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