RIYADH — Following directives of the Saudi authorities to safeguard its citizens and residents, and to contain the spread of coronavirus (COVID-19) in the Kingdom, Fawaz Abdulaziz Alhokair Co. (Alhokair Fashion Retail, the "Group" or "Alhokair," 4240 on the Tadawul) will temporarily close its retail units across the Kingdom of Saudi Arabia and a number of other effected countries. The company stated that the health and safety of its customers and employees is of paramount importance at this time. Food and beverage outlets will remain physically operational to provide takeout, pick-up and delivery service, and a number of fashion retail brands will remain available online with no effect on online sales operations. "At this moment in time, the safety of our employees, of our customers, and of our local communities is our priority. AlHokair Fashion Retail supports all measures which prioritize the public health," said Marwan Moukarzel, CEO of Fashion Retail. ‘AlHokair Fashion Retail remains optimistic about the Saudi market and our businesses' has a very strong financial position post recent refinancing. We are confident the temporary closure will not have a permanent impact on our operations,' Moukarzel added. ‘We fully support efforts by the Government of Saudi Arabia to control the spread of the coronavirus (COVID-19), and Alhokair's stores will remain closed until such time as the Government deems it prudent for retailers to recommence operations.' AlHokair Fashion Retail operates 1,267 stores across the Kingdom of Saudi Arabia.
