As Saudi Arabia-based Savola Group releases its 2017 annual report, we review Panda Retail Company’s year in more detail. This includes the challenges the retailer has faced, how the business has changed, and what the future looks like. Falling FY revenue Panda’s Q4 revenue was SAR2.9 bn (US$772m), a 12.6% fall on Q4 2016’s SAR3.4bn (US$905m). Its FY 2017 revenue was SAR11.7bn (US$3 bn), do...

Saudi Arabian-based Panda Retail Company, part of the Savola Group has announced its Q3 results. It has reported a decrease in revenue within its retail business, but an increase in profits. Challenging retail sector Panda Retail Company’s sales for the first nine months of the year were SAR8.8 bn (US$2.3 bn) a 15% decrease from SAR10.3 bn (US$2.7 bn) in the same period in 2016. The loss...

After a period of extensive expansion Panda Retail Company, part of the Savola Group, has begun a transformation programme to maintain its leading position in Saudi Arabia. Shaping Panda Retail Company’s future Panda Retail Company launched a comprehensive project in the second half of 2016 to transform itself following a period of economic slowdown and a decrease in consumer spending. Reta...