Abu Dhabi - Mubasher: Lulu Retail Holdings registered year-on-year (YoY) lower net profits after tax at $46.79 million in the first quarter (Q1) of 2026, compared to $69.69 million.
The revenues declined by 2.90% to $2.02 billion in Q1-26 from $2.08 billion in Q1-25, according to the interim consolidated financial results.
Basic and diluted earnings per share (EPS) retreated to $0.45 in the first three months (3M) of 2026, compared to $0.67 a year earlier.
The CEO of Lulu Retail, Saifee Rupawala, commented: “The fact that our stores have all remained open for business and well stocked is testament to the hard work of our staff alongside support across the six GCC countries.”
Rupawala added: “The year started well, but some slowdown in department stores was seen in March. Nevertheless, we have been able to open 11 new stores and are confident that we have the platform and offering for our customers, which will deliver growth as trading conditions normalize.”
In 2025, Lulu Retail achieved net profits worth $204.53 million, while the revenues grew by 4.10% YoY to $7.93 billion.
