Jarir to spend SAR120-140mn to open 5-6 new showrooms in 2019
Jarir Marketing [4190.SE] is planning to invest SAR120-140mn in 2019 (funded internally) to open 5-6 new showrooms, company Chairman Mohamed Al Agil said in an interview with CNBC Arabia. He added that e-commerce sales reached 3% of total revenue in 2018 and that segment was profitable with a target to reach 5% of sales in 2019. 2019 store additions are expected to provide up to 400 job opportunities, of which 80% will be for Saudis. (Argaam)
Jarir Marketing Co.: SAR154.40 as of 30 Jan. 2019, Rating: Buy, TP: SAR163.00/share, MCap: USD4,941mn, JARIR AB/4190.SE
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