United Electronics Co.’s (eXtra) online sales have increased around 53 percent year-on-year (YoY) year-to-date (YTD), chief executive Mohamed Galal told CNBC Arabia.
In the interview, Galal ruled out any potential store closures in the future.
"Our stores are profitable, and we are not inclined to close any of them," Galal said, adding that the relation between the company's stores and the online platforms is complementary and not of a competitive nature.
eXtra reported an 18 percent rise YoY in net earnings to SAR 30.9 million in Q3 2018.
The company last year launched a commercial partnership with Noon.com, making it the platform’s exclusive supplier of electronics and home appliances in Saudi Arabia.
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