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Retail brief
Sunday, 1 November 2026 · Jumada I 21, 1448 AH |
Stores, spending and the Gulf consumer Monitoring window: 07:03 on 25 Oct to 07:03 on 1 Nov, Riyadh time
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Retail in Saudi Arabia · 2 min read
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Nahdi Medical Q3 net profit rises 6.6% to 171.8m riyals |
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The bottom line
RiskUtility tariff changes from January 2027 raise operating costs; Al Othaim puts its hit at about 0.5% of revenue. WatchJewellery retailers face the ID notice duty as jewellery purchases rose 19.6% in a week.
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Markets
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Brent crude
117.64 $/barrel ▲ 2.4%
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Gold
3,874.40 $/oz ▼ 3.5%
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Saudi market index (TASI)
9,921.50 points
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S&P 500
7,580.07 points ▼ 1.8%
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30 Oct close (Saudi market index (TASI): 29 Oct)
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Situation
Riyadh airport: Partial reopening: domestic from T1, national carriers' international from T2 (Al-Monitor, updated Sun 1 Nov)
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The lead story
Al Othaim estimates utility tariff changes will cost about 0.5% of revenue
What happened Al Othaim Markets preliminarily estimates that electricity, water and sewage tariff changes effective 1 January 2027 will raise annual operating costs by about 0.5% of revenue, from Q1 2027 results.
Why it matters The tariff change touches store operating costs for all Retail companies from early 2027.
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◆ Sector leaders
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Nahdi Medical Q3 net profit rises 6.6% to 171.8m riyals
Revenue rose 9.4% year on year to 2.69bn riyals, with healthcare sales up 23.9% and regional operations up 31.4%, while gross margin declined on segment mix. Shares rose 7.48% to 89.10 riyals.
Why it matters: A benchmark for Retail companies: net profit fell 20.2% quarter on quarter despite revenue growth.
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◆ Regulation (2)
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◆ Industry & market (2)
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Saudi restaurant registrations rise 11% to 179,494
Restaurant and café sales reached 84.8bn riyals in 2025, with delivery app sales rising from about 17bn riyals to 25bn riyals.
Why it matters: Shows delivery's growing share, with commissions of 30-35% of order value per Fahd Al-Saadoun.
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◆ Saudi Arabia: security & major events
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Citizen injured by debris of two Houthi ballistic missiles intercepted over Riyadh
Saudi Civil Defence said debris from two Houthi-launched ballistic missiles fell in Riyadh on Thursday after they were intercepted and destroyed, causing a minor injury to a citizen and material damage to a house and a vehicle. The coalition also said it intercepted drones over the Eastern Region and toward the Southern Region, while the Houthis denied an attack on Medina.
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◆ Worth reading
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◆ On the radar
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◆ Sun 1 Nov: OPEC+ monthly meeting on oil output levels OPEC ◆ Fri 1 Jan: Electricity, water and sewage tariff adjustments take effect Mubasher
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For this brief we read 106 stories and chose 8.
Ijaz selects and summarizes the news with AI and can get things wrong. Check the source before relying on a story. Report any error to hello@ijaz.ai.
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