UAE: Lulu Retail H1 2025 net profit jumps to $127 million as its expansion continues

Khaleej Times

a day ago

Lulu Retail, the largest pan-GCC full-line retailer, on Wednesday said its net profit jumped 9.1 per cent year-on-year to $127 million in the first half of 2025, driven by the opening of new stores.
The retail giant opened seven new stores during January-June 2025, with four stores opening in July. It aims to open nine more stores this year.
Its first-half 2025 revenue reached $4.1 billion, up 5.9 per cent. Its EBITDA for H1 2025 was recorded at $418 million, up seven per cent year-on-year.
Saifee Rupawala, CEO of Lulu Retail, said average basket value, customer count and sales per square metre all increased positively over the first six months of the year, as 690,000 people daily shopped at its stores.
'Expansion continues in line with our strategy, with seven stores opening in H1 2025 and further four in July, taking the total store count to 259. Our loyalty programme continues to grow, with around one million new members joining during the second quarter, taking the total count to 7.3 million,' he said.
The Abu Dhabi-headquartered company announced an interim dividend of $98.4 million. In Q2 2025, the company reported revenue of $2 billion, up 4.6 per cent, driven by like-for-like growth of 2.1 per cent.
Its e-commerce continued its growth momentum in the second quarter of 2025, with sales up 43 per cent to $108 million, equating to 5.6 per cent of retail revenue.
Key markets
The UAE, Lulu's largest market, recorded Q2 2025 revenue growth of 9.4 per cent as the component was the continued strong demand for fresh food in the region, which was leveraged through Lulu's omni-channel offerings.
In Saudi Arabia, its revenue rose by 3.8 per cent in Q2 2025.
Meanwhile, Kuwait continued to trade strongly with Q2 2025 revenue growth of 4.9 per cent. In other markets, revenue in Qatar increased by 0.1 per cent, while revenue in Oman declined by 1 per cent due to flat supermarket sales.
During Q2 2025, Lulu opened one hypermarket and one express store, which were both in the UAE. This added total retail space of 9,245 square metres, which takes Lulu's total retail space to 1.35 million square metres. This comprises 120 hypermarkets, 112 express stores, and 24 mini-markets.
One small Express store in Dubai was closed during the quarter.
The rollout plan for the year remains on track, with the company expecting to open a total of 20 stores in 2025.