Jarir Marketing Co. is planning to open one or two showrooms in the fourth quarter and enhance its e-platform, chairman Muhammad Al-Agil told Argaam in an exclusive interview on Tuesday.
“We’re recording fast growth in e-commerce. Our sales could exceed SAR 100 million this year and should double in 2018,” he said.
The company’s third quarter profit was bolstered by higher sales in most segments, as the company widened its network to 49 from 44 showrooms and obtained higher supplier rebates.
A relative improvement in profit margins for some units helped lift the quarterly profit, with the smartphones segment reporting a 10 percent profit margin.
Smartphones account for 65 percent of the total sales of Jarir, which holds the largest market share at almost 20 percent in this segment.
Meanwhile, Al-Agil added the impact of new iPhone editions to the company’s fourth-quarter sales depends on the product’s success as many customers are anticipating the Apple iPhone 10 in November.
Jarir’s Q3 net profit rose by 13 percent year-on-year to SAR 246.5 million.
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