Alhokair Fashion Retail reports losses

RetailME Bureau

Saudi Arabia based retail conglomerate Fawaz Abdulaziz Al-Hokair & Co. has reported a consolidated net loss of SAR681.2 million during the fiscal year ending March 31, 2020. The company had recorded a net profit of SAR138.1 million during the same period in 2019.

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According to the official statement, the company’s gross profit decreased at an annual rate of 62.4% during the fiscal year 2020, which is equivalent to SAR676.7 million compared to the previous year.

Alhokair Fashion Retail has now restarted store operations after the ease of movement restrictions in the Kingdom.

 

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