Retail

  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 ...

  Bloomberg Costco Wholesale Corp. fell the most in almost 15 months after posting disappointing quarterly earnings, a sign its warehouse-club model may be less durable than expected in a shaky retail economy. Earnings were $1.17 a share in the fiscal second quarter, the Issaquah, Washington-based company said. Analysts had predicted $1.36 a share, according to data compiled by Bloomberg. ...

  Dubai / Emirates Business Majid Al Futtaim, the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia, announced the opening of its second Carrefour hypermarket in Nairobi, Kenya. The retailer’s expansion within the Kenyan market marks a significant milestone in the company’s expansion plans into the African continent. The most recent hypermarket is ...

  Bloomberg Retailers in India’s drought-hit southern state of Tamil Nadu stopped selling PepsiCo Inc. and Coca-Cola Co.’s sodas alleging that the companies were depleting ground water. About 70 percent of the 1.5 million members of the local retailers association who stock carbonated drinks have stopped selling the two brands, A. M. Vikkramaraja, president of the group, said in a ...

  Bloomberg After years of seeing fewer US customers come in its doors, McDonald’s Corp. is increasingly embracing a different philosophy: take the food to them. The fast-food chain will rely heavily on delivery to reignite sales, especially in the US, according to executives speaking at McDonald’s investor day in Chicago. The company also is turning more aggressively to digital ...

  Bloomberg BCBG Max Azria Group Inc., the glitzy fashion house founded by designer Max Azria, filed for bankruptcy in a third attempt in two years to rescue a business beset by changing consumer habits. The latest turnaround effort began in January when the chain started closing 120 of its stores, Chief Restructuring Officer Holly Felder Etlin said in court ...