Retail

Bloomberg Steinhoff International Holdings NV plans to list its African assets separately as the acquisitive retailer seeks a new prize for shareholders following this year’s failed merger talks with Shoprite Holdings Ltd. The company said it will seek to list businesses including clothing retailer Pepkor and furniture chain JD Group Ltd. on the Johannesburg Stock Exchange, about 18 months after …

Abu Dhabi / Emirates Business Distinguished Australian designer, Ellery, co-hosted an exclusive event – ELLERY X ETIHAD AIRWAYS – together with the Abu Dhabi-based airline at Mercedes-Benz Fashion Week Australia. The event celebrated ELLERY’s 10th year since showing for the first time at Australian Fashion Week with a retrospective of iconic looks from the ELLERY archive. Etihad Airways celebrated its …

Bloomberg Burberry Group Plc says a sleeker cut will help Chief Executive Officer Marco Gobbetti lift the brand’s image when he takes over in July. The UK trenchcoat maker said on Thursday that it has sacrificed some sales in the short term in order to strengthen its luxury credentials in a bid to raise profitability down the road. It said …

Dubai / Emirates Business Jumeirah’s largest community shopping centre, The Mall, was officially inaugurated. The prestigious retail and leisure destination located on Jumeirah Beach Road, opposite The Jumeirah Beach Hotel, was inaugurated by Meadhad Rashed Meadhad Almheiri – owner of The Mall, accompanied by Rashid Meadhad Rashid Meadhad Almheiri – Chairman, and Nancy Nese Ozbek, General Manager, at a grand …

Dubai / Emirates Business Nestlé Middle East’s 18th factory in the region has been inaugurated in Dubai South by His Highness Sheikh Ahmed bin Saeed Al Maktoum, President of the Dubai Civil Aviation Authority, Chairman Dubai Airports, and Chairman & Chief Executive of Emirates Airlines & Group; and in the presence of Marco Settembri, Executive Vice President Nestlé SA and …

Bloomberg Vodafone Group Plc promised to milk more of the cash that flows through the world’s second-largest mobile-phone operation and funnel it back to shareholders after years of investment and expansion. The stock rose the most in 10 months on Tuesday after the Newbury, England-based carrier forecast a 23 percent increase in free cash flow to 5 billion euros ($5.5 …

Bloomberg Vodafone Group Plc is simplifying its holdings in sub-Saharan Africa, selling a $2.6 billion stake in Kenya’s Safaricom Ltd. to its majority-owned Vodacom Group Ltd. The all-share deal will transfer a 35 percent stake in Safaricom to Vodacom in return for stock in the Johannesburg-based unit, raising the parent’s stake in its South African business to about 70 percent. …

Bloomberg J Sainsbury Plc, the supermarket that’s been selling Britons their bread and baked beans for more than a century, is looking beyond the grocery aisles for a competitive edge in a tough market, seeking inspiration from the catwalks of Los Angeles and Milan. The retailer has created a team of 30 fashion spotters who scour runways around the world …

Bloomberg Welcome to the club, J.C. Penney Co. The company joined department-store rivals such as Macy’s Inc. and Kohl’s Corp. in reporting disappointing sales for the first quarter, sending its shares down as much as 11 percent. The results confirm that weak sales were a universal phenomenon for US department stores last quarter, even among upscale players like Nordstrom Inc. …

Dubai / Emirates Business Cityland Mall – UAE’s first nature-inspired mall scheduled for launch in the second quarter of 2018 beside Global Village announced Fabyland as its official family entertainment provider. Fabyland, a brand under ‘Al-Othaim Leisure & Tourism Co.’, is a ‘futuristic’ family entertainment destination that has a wide variety of compelling rides and games. Fahimuddin Sharfuddin, Chief Executive …