Abu Dhabi – Mubasher: Lulu Retail Company has scaled up business in Saudi Arabia through the inauguration of a new Al Fakhriyah store in Dammam, according to a press release.
This follows the opening of 12 new stores in the first nine months (9M) of 2024 and a further six stores opened post-period end, taking Lulu’s total stores to 247.
The Al Fakhriyah store is Lulu’s 57th store in the Kingdom, with the company remaining on track to open over ten stores in the country during 2024 and further store openings planned in 2025.
The new 20,000 sq.ft. store offers a comprehensive range of products across multiple categories, including groceries, fresh produce, and bakery items, among others.
As of 30 September 2024, the company’s sales amounted to $5.72 billion, while the net profits hit $151.53 million.
