Riyadh — Mubasher: Alsaif Stores for Development and Investment Company (Alsaif Gallery) recorded an 82.65% year-on-year (YoY) decline in net profit during the third quarter (Q3) of 2026.
The net income fell to SAR 2.24 million in Q3-26 from SAR 12.94 million in Q3-25, according to a bourse disclosure.
The retailer attributed the downturn to a 7.36% drop in quarterly revenue, which reached SAR 192.56 million, alongside a contraction in profit margins caused by inflated shipping costs.
The company stated that geopolitical developments led to supply chain disruptions and delayed shipments, impacting the availability of fast-moving products.
This coincided with a broader slowdown in consumer spending. Operating profit for the quarter fell by 79.19% to SAR 3.42 million.
For the nine-month period which ended on 30 September 2026, Alsaif Gallery reported a 14.86% decrease in net profit to SAR 42.19 million, while total revenue grew by 5.91% to SAR 604.33 million.
The year-to-date growth was supported by strong performance in the first half (H1) of 2026, which offset the third-quarter decline.
Earnings per share (EPS) for the nine months stood at SAR 0.12, down from SAR 0.14 in 9M-25.
Alsaif Gallery confirmed plans to open two new branches during Q4-26 as part of its expansion strategy.
