Abdullah Al Othaim Markets posted a net loss of SAR 92.7 million for the first nine months of 2026, against a profit of SAR 135 million a year earlier. Revenue fell 3.3% to SAR 8.14 billion and gross profit dropped 8.8% to SAR 1.62 billion, leaving an operating loss of SAR 38.1 million.

The company traced most of the damage to the rollout of a new ERP system. Retail sales inside the Kingdom fell 5.9%, which Othaim linked mainly to implementation problems with the system, along with shifts in consumer behaviour and changes in market structure. Those same problems disrupted its supply chain, stock management and product availability, and the biggest driver of the loss was a significant increase in provisions for trading inventory. Lower sales and higher e-commerce costs also squeezed margins. A SAR 10.1 million gain from selling a stake in an associate and a SAR 9.6 million exceptional dividend from another investment softened the result.

The third quarter showed early signs of repair. Othaim lost SAR 39.3 million, against a SAR 17.5 million profit in the same quarter of 2025, on revenue down 2.5% to SAR 2.66 billion. Compared with the second quarter, though, revenue rose 5.4%, gross profit climbed 15.4% and the net loss narrowed 63% from SAR 107.1 million. The company said corrective measures lifted sales in August and September compared with July, helped by back-to-school promotions, and inventory provisions fell from the second quarter.

Online kept growing. E-commerce sales rose 56% in the third quarter, partly offsetting the drop in sales at its branches.

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