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FINANCIAL NEWS
Saudi Arabia’s retail sector records 21 percent growth
02 Apr 2015
(MENAFN) Saudi Arabia’s retail sector sustained its growth, in spite of the unpredictability of oil price, and registered a 21 percent growth over the past five years, according to NCB Capital’s report, Saudi Gazette reported.
The report highlighted the significant growth of Jarir Marketing in both times of economic progress and vagueness. Jarir is Saudi Arabia’s second-largest listed retailer. Moreover, Al Hokair was praised for its local and international store expansion by the report.
Additionally, the report commended the sturdy organic growth and store expansions Al Othaim Holding has made and led to its maintaining of the grandest protective measures among other companies, which led to successful outcomes in terms of figures.
“We believe that the premium over the TASI levels of 17x reflects the defensive nature and growth outlook for the sector. We also believe that the Retail sector is an ideal proxy for the increase in employment,” Tomalieh said in a report.
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