Panda Retail Company news

As Saudi Arabia-based Savola Group announces its Q2 results we look at how Panda Retail Company performed in more detail. A challenging Q2… Panda Retail Company’s revenue declined 3.1% to SAR3,229m (US$860m) from SAR3,331m (US$887m) in Q1 2017. The retailer reported lower footfall as the main reason behind the loss. Another contributing factor was the reduction of selling space by 13,732...

As Saudi Arabia-based Savola Group releases its 2017 annual report, we review Panda Retail Company’s year in more detail. This includes the challenges the retailer has faced, how the business has changed, and what the future looks like. Falling FY revenue Panda’s Q4 revenue was SAR2.9 bn (US$772m), a 12.6% fall on Q4 2016’s SAR3.4bn (US$905m). Its FY 2017 revenue was SAR11.7bn (US$3 bn), do...

Saudi Arabian-based Panda Retail Company, part of the Savola Group has announced its Q3 results. It has reported a decrease in revenue within its retail business, but an increase in profits. Challenging retail sector Panda Retail Company’s sales for the first nine months of the year were SAR8.8 bn (US$2.3 bn) a 15% decrease from SAR10.3 bn (US$2.7 bn) in the same period in 2016. The loss...

After a period of extensive expansion Panda Retail Company, part of the Savola Group, has begun a transformation programme to maintain its leading position in Saudi Arabia. Shaping Panda Retail Company’s future Panda Retail Company launched a comprehensive project in the second half of 2016 to transform itself following a period of economic slowdown and a decrease in consumer spending. Reta...

Reports suggest the HyperPanda hypermarket in Dubai Festival City will soon be closing. It is one of the largest hypermarkets(16,250 sq. m) in Dubai and has operated for 10 years. It is Panda’s only hypermarket in Dubai and, therefore, its closure will see Panda exit the market. It is said that the company may offer clearance sales soon, although they have not been officially announced yet. Ho...

Saudi Arabia-based Panda Retail Company, part of the Savola Group, has announced fourth quarter and full year results, saying store expansion had offset a contraction in like-for-like sales. 2016 results in line with 2015's Panda generated revenue of SAR13.5 bn (US$3.6 bn) in 2016. The retailer noted that 18 new stores, which had increased its average selling space by 1%, had helped underpi...

As UAE-based Majid Al Futtaim and LuLu set out expansion plans, Saudi Arabia-based Savola, which owns the Panda chain, and Qatar-based Al Meera announce third quarter results, we round up news from the region. LuLu continues expansion across the region Sustaining its pace of expansion, UAE-based LuLu has announced a number of initiatives to grow its presence across the region. The retailer ...

As Saudi Arabia-based Savola announces second quarter results, Spinneys opens a new store in Egypt and Mohammad Alabbar’s acquisition of a stake in Aramex putting a spotlight on ecommerce’s potential, we round up news from the region. Savola suffers fall in net profit in Q2 Savola has announced that its net profit has fallen 43.2% to SAR246.7m (US$65.7m) in its second quarter as rising oper...

As Saudi Arabia-based Al Othaim and Panda Retail, with the latter part of the Savola Group, report their first quarter results and Qatar-based Al Meera maintains its expansion plans and highlights how its store growth has driven its first quarter results, we round up news from the region. Panda Retail investing in expansion in Q1 Saudi Arabia-based Savola has announced first quarter results...

As Panda, LuLu and Choithram announce expansion plans across the region, we round up news from the three retailers. Panda wins opportunity to expand in Qalyubia governorate Saudi Arabia-based Panda has, according to Egyptian supply minister Khaled Hanafy, won the bid to open a c 5,000 sq. m store in the Qalyubia governorate. Hanafy said that the establishment of further chains and logistics...