Jarir expects online sales to rise 2% in 2017: Al-Agil

Jarir Marketing Co. expects to report growth of 2 percent, or SAR 100 million, in online sales this year, the company’s chairman Muhammad Al-Agil said on Wednesday at a conference.

The bookstore operator is also planning to open three new stores in the second quarter, with an additional four branches planned by the end of the year, he added.

Jarir expects its profit to grow by almost 5 percent in 2017, amid current market conditions and lower purchasing power, the company said it its annual board report earlier this month.

The Tadawul-listed firm opened five stores in 2016, bringing the total number of stores to 45 — nine of which are owned, not leased.