Saudi Company for Hardware (SACO) [4008.SE] announced that it had signed a new lease contract for a 5,977 sqm store in Al Khobar, replacing its existing 3,668-sqm store there. The company is set to close the old store in May 2016 due to difficulties related to maintenance and renewal of the store permits. The impact of the closure will appear in2Q2016 results and is expected to be small, given the relative contribution of the store to total net income. Furthermore, the company's expansion plans remain intact, unaffected by the store replacement. (Company disclosure)