In the second quarter of 2023, EBITDA increases 79.2% to SAR 316.6 million, with net profit increase of 173.6% to SAR 169.2 million underscoring Cenomi Retail’s effective turnaround efforts.
Cenomi Retail to adopt ‘Saudi First’ strategy; leveraging the exciting growth prospects in its home market.
Company considering divestments of non-strategic geographies and brands with decision to exit the USA and Balkan markets, while additional seven brands added to the original 22 that were earmarked for divestment as the company continues its portfolio transformation and alignment with Champion brands.
Right-sizing the operations in Egypt and Morocco will lead to the closure of 39 and 16 stores, respectively.
