Saudi Arabia posts third quarterly loss

Nice One, a Saudi company specializing in online sales of cosmetics and personal care products, recorded a net loss of 20 million SAR in the second quarter of 2026. This marks the third consecutive quarter of losses since its listing. Revenues declined by 2.1% to 188.3 million SAR, despite an increase in sales from physical stores, which helped offset some of the decline in online sales. The rise in marketing expenses, which reached 41.6 million SAR, squeezed profit margins, alongside increased provisions for inventory and higher fixed costs related to store and administrative expansion. These factors led to increased operating costs and prevented the company from achieving sustainable profits. The results indicate that these losses are not merely seasonal but are also driven by higher customer acquisition costs and operational expenses. Customer traffic continues to decline, further pressuring profit margins. Moving forward, the focus is expected to remain on improving sales growth and reducing costs to achieve stability and future profitability.

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