by Jibran Munaf | November 8, 2024 | Retail
Dubai-based supermarket chain Spinneys announced a 12% increase in net profit for Q3 2024, reaching AED35 million ($9.5 million) as the retailer reported strong quarterly and year-to-date performance. Revenue for the quarter rose 15% year-on-year to AED701 million,...
by Jibran Munaf | November 7, 2024 | Commodities, Retail
Commodity markets saw a widespread decline on Wednesday following Donald Trump’s U.S. presidential election win, with oil, metals, and agricultural goods all retreating as a surging U.S. dollar weighed on prices. The dollar’s one-day rise, its largest since March...
by Jibran Munaf | November 7, 2024 | Corporate Finance, Retail
Lulu Retail Holding has set the price of its initial public offering at AED2.04 ($0.56) per share, marking the top of its indicative range and valuing the company at AED21.1 billion ($5.75 billion). The IPO raised a record-breaking $1.72 billion, making it the largest...
by Jibran Munaf | October 31, 2024 | Retail
New Starbucks CEO Brian Niccol, just 51 days into his role, is taking swift action to address high prices, menu complexity, and service speed issues that have impacted the brand’s reputation. Visiting major markets such as New York, Dallas, and Chicago, Niccol is...
by Jibran Munaf | October 19, 2024 | Retail
Lulu Group International, a leading retail giant in the UAE, is set to raise $1.7 billion to $1.8 billion by selling 25% of its retail arm and sourcing businesses through an Initial Public Offering (IPO). This move implies a company valuation of $6.5 billion to $7...
by Jennifer George | October 8, 2024 | Economy, Fashion, Industry, News, Retail
On Monday, Saudi Arabia’s Public Investment Fund (PIF) announced it will acquire a minority stake in the global retail chain, Selfridges. KSA’s PIF will be buying out Signa Group’s previous stake in the retail group. In an official statement, the...
