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4) Jobs creation: the entry of foreign companies into retailing in Saudi Arabia will
document IMAGES-003-HOUSE_OVERSIGHT_016172.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…beralization of the Saudi retail industry raised concerns among Al Hokair investors regarding the potential loss of the Inditex franchise, which we estimate accounts for 8% of its total stores. We think this risk is overstated for the following reasons: e _ Relationship with par...

European Equity Strategy
document TEXT-001-HOUSE_OVERSIGHT_014460.txt Dec 1, 2016 House Oversight Committee — Epstein Estate Records (Nov 2025)

…verage on PE and 92%ile on PBV, while it has the second lowest dividend in the market (2.9%). Even if you strip H&M and Inditex the sector is towards the higher range of its post-GFC range. • UK supermarkets have had their relief rally. Despite challenges facing UK food retailers...

Underweight Retail
document IMAGES-003-HOUSE_OVERSIGHT_014490.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…verage on PE and 92%ile on PBV, while it has the second lowest dividend in the market (2.9%). Even if you strip H&M and Inditex the sector is towards the higher range of its post-GFC range. UK supermarkets have had their relief rally. Despite challenges facing UK food retailers,...

Saudi Arabia approves 100% foreign ownership rules
document IMAGES-003-HOUSE_OVERSIGHT_016171.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…me locations in well-located shopping malls owned by its parent shareholder, Al Hokair Group. Fashion retailers such as Inditex continue to compete for good-quality real estate in shopping centres and on high streets. e — Jarir and Extra are more vulnerable to the entry of inter...