Jarir Bookstore opens new store in Medina
by Stuart Wilson, Monday 6 March 2017
Saudi Arabian tech retail giant Jarir Bookstore recently opened a new showroom in Medina, taking its store network inside the Kingdom to 39. Jarir’s total store network now numbers 47, including its outlets outside of Saudi Arabia. The new Medina showroom on King Abdullah Road spans more than 4000 square metres. Jarir Bookstore invested more than US$16m in its latest outlet. More than 60% of the staff employed at the new store are Saudi Arabian.
Jarir Bookstore’s results for calendar 2016 saw revenues down 4% at US$1.63 billion with net profits down 11% at US$196.8m – a margin of 12.1%. In its results statement, Jarir noted a fire that took place in one of its Jeddah stories, which resulted in losses and damages to certain assets.
Jarir Bookstore stated that 94% of its sales were from retail activities with 6% from wholesale business. In total, 92% of sales were from operations in Saudi Arabia with the remaining 8% from other Gulf countries and Egypt.
We are pleased to confirm that Channel EMEA is an official Media Partner for all DISTREE events in 2017, including DISTREE Middle East. DISTREE Middle East 2017, which takes place from May 8th to 10th in Dubai, gathers together hundreds of senior executives from e-tailers, retailers, online marketplaces, distributors and vendors of consumer tech products. Thousands of pre-scheduled meetings take place between delegates during the event, accelerating consumer tech channel growth and development throughout the Middle East. This year’s event will also include a delegation of leading consumer tech retailers from Africa.