As consumer demand for digital and omni-channel experiences continues to accelerate, Majid Al Futtaim Retail’s enhanced omni-channel offerings led to revenue growth in 2022.
With Carrefour in its portfolio Majid Al Futtaim Retail reported a seven per cent increase in revenue to AED28bn in 2022 driven by renewed consumer confidence, easing of Covid-19 restrictions and rebound in travel and tourism in countries where it operates. However, retail EBITDA declined 14 per cent to AED 1.2bn.
The operating company has expanded its presence in the region opening seven hypermarkets and 28 supermarkets across nine countries and bringing the total number of stores to more than 450. On the other hand, Majid Al Futtaim Retail’s long-term investment in enhancing its omni-channel offerings contributed to revenue growth from digital sales by 51 per cent year-over-year.
With a brand portfolio including lululemon, THAT Concept Store and many more Majid Al Futtaim Lifestyle reported revenue of AED801M up 38 per cent year-on-year driven by a strong performance across its brands.
