Retail

  LAGOS / Reuters Etisalat’s Nigerian affiliate is in talks with local banks to renegotiate a $1.2 billion loan it took out four years ago to expand its network in the country after it missed payments, a senior executive told Reuters. Ibrahim Dikko, vice president for regulatory affairs at Etisalat Nigeria, said Etisalat missed payments due to an economic downturn …

  Bloomberg Adidas AG’s new chief executive officer is doubling down on surging sales of casual sneaker lines like Stan Smith and Tubular to transform the German sportswear maker into a fast-fashion business and gain ground on larger rival Nike Inc. Sales of so-called lifestyle products from the Originals, Neo and Y3 lines rose 45 percent in 2016, more than …

Bloomberg Gordmans Stores Inc., a Midwestern department-store chain founded more than a century ago, is preparing to file for bankruptcy, according to people familiar with the matter. The filing could come as soon as this month, said the people, who asked not to be identified because the process isn’t public. Shares of the Omaha, Nebraska-based company have fallen more than …

  Bloomberg Safaricom Ltd, East Africa’s biggest mobile-phone company, would have to reconsider future investment in Kenya if proposals to break up the company are implemented, the head of mobile money at parent Vodafone Plc said. The company 40 percent owned by Newbury, England-based Vodafone was found to be Kenya’s dominant carrier in a draft report by U.K.-based advisory group …

  Emirates Business Souqplace.com, the first Emirati online marketplace, connecting quality SMEs and artisan products to consumers, during a press meet shared insights on e-commerce and consumer shopping trends, in the UAE. Backed by the Emirati entrepreneur extraordinaire, Ahmed BinSalem Al Dhaheri, Chairman, Virtual Dusk, Souqplace.com aims at providing a platform to the blooming SME space of the UAE to …

  Bloomberg Puma SE and Under Armour Inc. have switched sides. Helped by endorsements from Rihanna and Kylie Jenner, the German sportswear maker is in comeback mode. Its profits are reviving and its shares are surging — a mirror image to its similarly sized U.S. rival, which is reeling from a sales slowdown and a stock slump. Puma’s celebrity-fueled approach …

  Bloomberg Kenya’s government opposes using regulation to force East Africa’s biggest mobile operator Safaricom Ltd. to be broken up, after a draft study found the company is dominant in the country’s telecommunications industry, Information, Communications and Technology Secretary Joseph Mucheru said. The government disapproves of measures that would stifle innovation as it wants companies to expand by investing in …

  Emirates Business Mall of Egypt is Majid Al Futtaim’s flagship project in North Africa and a pillar of the company’s AED 5.1 billion investment strategy in Egypt. With the unveiling of the country’s first super-regional mall, Majid Al Futtaim is bringing its world-renowned leisure and entertainment brand portfolio that includes Ski Egypt, which brings snow for the first time …

  Emirates Business Celebrating the steadfast love of mothers everywhere, Pure Gold Jewellers has launched stylish special edition diamond pendants for Mother’s Day. One of the designs is an open heart shaped gold and diamond pendant with the word ‘Mom’ inscribed in the centre of the heart. This 18 karat pendant has an array of diamonds around the outer layer …

  Bloomberg PVH Corp.’s Tommy Hilfiger division is looking to technology to bring buzz to a three-decade-old brand that’s been walloped by the department-store industry’s decline. Though Tommy Hilfiger’s same-store sales plunged 11 percent in North America during the most recently reported quarter, e-commerce has emerged as its biggest source of growth. The business is increasingly relying on social media …