Jarir Marketing Company (4190.SE) announced the opening of its newest store in Medina marking the company’s 39th store in Saudi Arabia (47 in the GCC in total). The new store, located on King Abdullah road in Medina, sits on a total area of ?4,086 sqm and had an investment cost of SAR61mn, with a 62% Saudisation rate. The company is expecting the new store to contribute to its sales and profits as of 1Q17. (Tadawul) Jarir Marketing Co.: SAR126.75 as of 8 Feb. 2017, Rating: Buy, TP: SAR152.00/share, MCap: USD3,042mn, JARIR AB/4190.SE
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