Friday, December 3, 2021
HomeTourism NewsSaudi Arabia TourismVietnam’s resort island welcomes first tourists after nearly 2 years

Vietnam’s resort island welcomes first tourists after nearly 2 years


After listed companies on the Saudi Stock Exchange, Tadawul, posted earnings, Arab News studied the income statements of three food retailers and one fashion chain. Only Alhokair, predominantly a clothing chain, boosted profits.


Rising sales at Alhokair saw annual profits jump 75 percent to SR1,311 million. A fall in depreciation and amortization was also a factor due to store closures. Finance costs fell by over 25 percent as the company continued its policy of closing non-profitable outlets. The group also runs a much smaller food business. 


“The pandemic helped make quick decisions to get rid of stores, and during the last seven fiscal quarters, about 600 unprofitable stores were closed. At the…

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