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SACO announces its Turnaround plan for the three years 2023, 2024 and 2025.

SACO 4008 32.08% 35.00 8.50
Element List Explanation
Announcement Detail Saudi Company for Hardware is pleased to announce that it began to implement its Turnaround plan for the three years 2023,2024 and 2025, which aims to improve the company's results and status based on SACO's leading position in the Saudi retail Market.

The strategy main pillars are:

1. Restructuring the current stores in terms of their number, geographic presence and opening new viable branches.

2. Introduction of new categories, varieties and new services addressing our customers' expectations and enhancing the company's profitability.

3. Putting more focus on Ecommerce omni channel and partnering with new aggregators .

4. Implementing a new promotional strategy to ensure effective positioning of the products and company's position in the market

5. Signing new agreements and building partnerships with suppliers..

6. Remodeling stores and improving customers’ service and loyalty program.

7. Effective inventory management and spending efficiency.

8. Restructuring management and staff at the branches with highly qualified leaders to raise performance and productivity.

It is expected that this Turnaround plan will be reflected in the company's results, starting from the fourth quarter of the year 2023.

This strategy will be financed from the operating cash flow, as well as taking advantage of other Sharia-compliant finance resources.

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