Latest news with #DFIRetailGroup
Straits Times
3 days ago
- Business
- Straits Times
Singapore stocks fall as Trump tariffs resumes for now; STI retreats 0.6%
The STI was led by DFI Retail Group, which rose 3 per cent to US$2.76. PHOTO: ST FILE Singapore stocks fall as Trump tariffs resumes for now; STI retreats 0.6% SINGAPORE – The Trump tariff roller-coaster took another swing through markets on May 30 and helped depress shares across the region. The latest twist in the seemingly never-ending saga came when a US appeals court paused a ruling that blocked President Donald Trump's sweeping tariffs, and in turn stopped Thursday's rally dead in its tracks. That left the benchmark Straits Times Index (STI) down 0.6 per cent or 22.23 points to 3,894.6 with losers beating gainers 248 to 209 on trade of 1.3 billion securities worth $3.3 billion. Ms Ipek Ozkardeskaya, analyst at Swissquote Bank, said the optimism triggered by the initial ruling that halted the 'Liberation Day' tariffs 'turned out too good to be true' as it is now effectively on hold. 'If tariffs are ultimately found to be unlawful, the willingness of partners to make concessions during trade talks may shrink – not exactly ideal, especially given the critical window for negotiations,' she added. Regional indexes reacted negatively. Hong Kong's Hang Seng lost 1.2 per cent, South Korea's Kospi fell 0.8 per cent, the Nikkei 225 in Tokyo declined 1.2 per cent and Malaysian shares slipped 0.7 per cent. By contrast, Wall Street shrugged off the tariff news overnight and focused more on tech stocks after Nvidia posted robust earnings. The Nasdaq and S&P 500 both rose 0.4 per cent while the Dow Industrials added 0.3 per cent. Meanwhile, the STI was led by DFI Retail Group, which rose 3 per cent to US$2.76. After the market closed, the group said it will divest a 22.2 per cent stake in Robinsons Retail. DFI parent company Jardine Matheson did not fare so well, falling 2.4 per cent to US$44.50, after announcing that chief executive John Witt is retiring at the end of November. The local banks were in the red: DBS fell 0.6 per cent to $44.72; UOB declined 1.2 per cent to $35.41; and OCBC retreated 1 per cent to $16.23. THE BUSINESS TIMES Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
3 days ago
- Business
- Business Times
DFI Retail Group divests 22.2% stake in Robinsons Retail for undisclosed sum
[SINGAPORE] DFI Retail Group said on Friday (May 30) that it has divested 22.2 per cent – or about 315.3 million – of Robinsons Retail's outstanding shares for an undisclosed sum. DFI became a significant minority shareholder in Robinsons Retail in 2018 through a share-for-share swap transaction involving Rustan Supercenters. Rustain Supercenters is an operator of food retail formats and supermarkets in the Philippines. 'This transaction reflects DFI's strategic pivot from a portfolio investor to a focused operating company, enabling the group to divest minority positions and redeploy capital to support the growth and higher returns of subsidiary businesses,' it said. Following this divestment, DFI said it will review the use of the divestment proceeds to support its capital allocation strategy and long-term growth priorities. These include, but are not limited to, expanding digital retail media, advancing own-brand innovation, and enhancing omnichannel capabilities across its key markets. The group added that it remains confident in Robinsons Retail's long-term prospects and the 'continued success' of their exclusive distribution of the Meadows and Guardian brands. Scott Price, DFI Retail's group chief executive, said its collaboration with the Robinsons Retail team has been 'instrumental' in growing the group's presence in the Philippines, with the transaction representing a 'significant step' in DFI's evolution as an operating company. The transaction was executed via a special block sale on the Philippine Stock Exchange, with the agreed price based on prevailing market conditions and strategic considerations, the group added. Shares of DFI closed at US$2.76, up US$0.08 or 3 per cent on Friday, before the announcement.
Zawya
3 days ago
- Business
- Zawya
DFI Retail Group Divests Shares in Robinsons Retail
HONG KONG SAR - Media OutReach Newswire - 30 May 2025 - DFI Retail Group Holdings Limited ('DFI' or the 'Group') today announces the sale of 315,309,310 common shares in Robinsons Retail Holdings, Inc. ('RRHI'), representing approximately 22.2% of RRHI's outstanding shares. This transaction reflects DFI's strategic pivot from a portfolio investor to a focused operating company, enabling the Group to divest minority positions and redeploy capital to support the growth and higher returns of subsidiary businesses. DFI first became a significant minority shareholder in RRHI in 2018 through the share-for-share swap transaction involving Rustan Supercenters, Inc. Following this divestment, the Group will review the use of the divestment proceeds to support its capital allocation strategy and long-term growth priorities which include - but not be limited to - expanding digital retail media, advancing own brand innovation, and enhancing omnichannel capabilities across its key markets. DFI remains confident in RRHI's long-term prospects and the continued success of their exclusive distribution of Meadows and Guardian brands. Scott Price, Group Chief Executive of DFI Retail Group, said, "We would like to sincerely thank the Robinsons Retail team for their hard work, partnership, and commitment over the years. Our collaboration has been instrumental in growing our presence in the Philippines, and we look forward to continuing this strong relationship as we each focus on our strategic priorities." "This transaction represents a significant step in our evolution as an operating company, enabling us to redeploy capital to support growth and enhance shareholder returns across our subsidiary businesses. We will evaluate the deployment of divestment proceeds to ensure alignment with our capital allocation strategy and long-term growth ambitions." The transaction was executed via a special block sale on the Philippine Stock Exchange, with pricing agreed upon based on prevailing market conditions and strategic considerations. Hashtag: #DFIRetailGroup The issuer is solely responsible for the content of this announcement. DFI Retail Group DFI Retail Group is a leading Asian retailer, driven by its purpose to 'Sustainably Serve Asia for Generations with Everyday Moments'. As at 31 December 2024, the Group, its associates and joint ventures operated over 10,700 outlets, of which more than 5,000 stores were operated by subsidiaries. The Group, together with associates and joint ventures, employed over 190,000 people, with over 45,000 people employed by subsidiaries. The Group had total annual revenue in 2024 of US$24.9 billion and reported revenue of US$8.9 billion. The Group is dedicated to delivering quality, value and service to Asian consumers through a compelling retail experience, supported by an extensive store network and highly efficient supply chains. The Group, including associates and joint ventures, operates a portfolio of well-known brands across six key divisions: health and beauty, convenience, food, home furnishings, restaurants and other retailing. The Group's parent company, DFI Retail Group Holdings Limited, is incorporated in Bermuda and has a primary listing in the equity shares (transition) category of the London Stock Exchange, with secondary listings in Bermuda and Singapore. The Group's businesses are managed from Hong Kong. DFI Retail Group is a member of the Jardine Matheson group. DFI Retail Group
Malay Mail
3 days ago
- Business
- Malay Mail
DFI Retail Group Divests Shares in Robinsons Retail
HONG KONG SAR - Media OutReach Newswire - 30 May 2025 - DFI Retail Group Holdings Limited ('DFI' or the 'Group') today announces the sale of 315,309,310 common shares in Robinsons Retail Holdings, Inc. ('RRHI'), representing approximately 22.2% of RRHI's outstanding shares. This transaction reflects DFI's strategic pivot from a portfolio investor to a focused operating company, enabling the Group to divest minority positions and redeploy capital to support the growth and higher returns of subsidiary first became a significant minority shareholder in RRHI in 2018 through the share-for-share swap transaction involving Rustan Supercenters, this divestment, the Group will review the use of the divestment proceeds to support its capital allocation strategy and long-term growth priorities which include - but not be limited to - expanding digital retail media, advancing own brand innovation, and enhancing omnichannel capabilities across its key remains confident in RRHI's long-term prospects and the continued success of their exclusive distribution of Meadows and Guardian Price, Group Chief Executive of DFI Retail Group, said, "We would like to sincerely thank the Robinsons Retail team for their hard work, partnership, and commitment over the years. Our collaboration has been instrumental in growing our presence in the Philippines, and we look forward to continuing this strong relationship as we each focus on our strategic priorities.""This transaction represents a significant step in our evolution as an operating company, enabling us to redeploy capital to support growth and enhance shareholder returns across our subsidiary businesses. We will evaluate the deployment of divestment proceeds to ensure alignment with our capital allocation strategy and long-term growth ambitions."The transaction was executed via a special block sale on the Philippine Stock Exchange, with pricing agreed upon based on prevailing market conditions and strategic #DFIRetailGroup The issuer is solely responsible for the content of this announcement. DFI Retail Group DFI Retail Group is a leading Asian retailer, driven by its purpose to 'Sustainably Serve Asia for Generations with Everyday Moments'. As at 31 December 2024, the Group, its associates and joint ventures operated over 10,700 outlets, of which more than 5,000 stores were operated by subsidiaries. The Group, together with associates and joint ventures, employed over 190,000 people, with over 45,000 people employed by subsidiaries. The Group had total annual revenue in 2024 of US$24.9 billion and reported revenue of US$8.9 billion. The Group is dedicated to delivering quality, value and service to Asian consumers through a compelling retail experience, supported by an extensive store network and highly efficient supply chains. The Group, including associates and joint ventures, operates a portfolio of well-known brands across six key divisions: health and beauty, convenience, food, home furnishings, restaurants and other retailing. The Group's parent company, DFI Retail Group Holdings Limited, is incorporated in Bermuda and has a primary listing in the equity shares (transition) category of the London Stock Exchange, with secondary listings in Bermuda and Singapore. The Group's businesses are managed from Hong Kong. DFI Retail Group is a member of the Jardine Matheson group.
Fashion United
7 days ago
- Business
- Fashion United
World Retail Congress: Experts discuss the reality of AI in retail
London - Prior to the event, it was already clear that the theme of AI would be unavoidable at the World Retail Congress in London. Although it is still a hot topic, the hype and initial panic have given way to reflection and well-considered steps. There were certainly advocates and fans of AI. Scott Price, chief executive officer of DFI Retail Group, stated: 'If you don't aggressively pursue AI, then you will lose. Your proposition simply won't be as personalised as other companies',' during a panel about the growth engines of retail. The use of AI with the help of data makes it possible to further personalise the customer experience. More cautious and sometimes even critical voices were also heard. Georgina SmallWood, chief product, data and technology officer of card service Moonpig, described what is possible with the help of AI. 'We can now make real-time recommendations for, for example, a gift with your card based on what they see you write in the card.' She gave the example of someone sending a card to their father with a reference to a fishing trip. This person then receives recommendations for a fly fishing workshop. 'We have to be careful with its use. We've all opened our phones, seen an advert and thought: Is my phone listening? We don't want to slap you in the face with the fact that we use AI.' Level-headed view of ai according to retail experts at world retail congress Another critical voice came from Elsa Pedro do Souto, global senior manager insights and analytics at Mars. 'We also need to think about the sustainability of AI and the energy it costs. If we can map a process, that means we can automate it. But should we want to?' In addition, there were also some disclaimers, for example from Catherine Brien, partner and managing director of consultancy AlixPartners. 'AI isn't a strategy, it's a tool you can use with a strategy.' AI is also dependent on the data you can feed it. If you don't have good or enough data, AI won't be able to help either. This also fits with what Ken Pilot of Pilot Ventures said during one of the panel talks. He is enthusiastic about AI and the possibilities in the design process, but he is also clear that people are still needed. 'We're replacing the bicycle with a car, but the designer still needs to be the one driving.' The metaphor refers to the fact that AI can create countless options for, for example, a white T-shirt, but a designer still has to safeguard the values and style of the brand they work for in that design. The arrival of AI has certainly turned the business world upside down, and the retail and fashion industry is no exception. However, every major change takes time to be fully embraced and implemented. 'When electricity was introduced, it took 50 years to reorganise the production chains,' Brien warned. This article was translated to English using an AI tool. FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@
