Latest news with #LuluRetail
Zawya
7 days ago
- Business
- Zawya
Lulu Retail to join FTSE Global Equity Index Series
Abu Dhabi: Lulu Retail Company has been selected for inclusion in the FTSE Global Equity Index Series (FTSE GEIS), following the latest review by FTSE Russell. The inclusion is expected to be from 23 June 2025 and is subject to any revisions by FTSE until 6 June, according to a press release. Lulu will be added to FTSE Mid Cap, FTSE All-World, FTSE All-Cap, and FTSE Total-Cap indices, key benchmarks for global institutional investors. This will boost the company's position and broaden engagement with international investors. Lulu's addition to the FTSE GEIS follows its initial public offering (IPO) in the fourth quarter (Q4) in 2024, which attracted strong demand from local, regional and international investors. Saifee Rupawala, CEO of Lulu, commented: 'Our inclusion in the FTSE Global Equity Index Series is a landmark achievement and underscores the strength of our retail model, operational scale, and the trust investors have placed in our vision.' Rupawala stated: 'It enhances our visibility on the global stage and opens new avenues for engagement with long-term international capital.' 'As we continue to grow, our priority remains driving operational excellence, deepening customer loyalty, and unlocking new opportunities across our markets,' he added. Last April, the Endowment and Minors Trust Foundation (Awqaf Dubai) partnered with Lulu Retail to establish new hypermarkets and supermarkets across Dubai.
Al Etihad
27-05-2025
- Business
- Al Etihad
Lulu Retail to join FTSE Global Equity Index Series
27 May 2025 14:04 A. SREENIVASA REDDY (ABU DHABI)Lulu Retail Holdings, the region's largest full-line retailer, has been selected for inclusion in the FTSE Global Equity Index Series (FTSE GEIS), a key global benchmark developed by FTSE Russell, a subsidiary of the London Stock Exchange inclusion will take effect from June 23, 2025, subject to final confirmation by June 6, a statement from the company move comes after Lulu's successful initial public offering (IPO) in Q4 2024, which attracted robust demand from local, regional, and international was listed on the Abu Dhabi Securities Exchange (ADX) at Dh2.04, and the stock is now trading at around Dh1.35. Despite the fall in price, the scrip enjoys high liquidity in the market cap stands at Dh13.94 billion, according to the latest ADX will be included in several prominent indices under the FTSE GEIS umbrella, namely the FTSE Mid Cap, FTSE All-World, FTSE All-Cap, and FTSE Total-Cap indices, the statement said. These indices are widely tracked by institutional investors globally and serve as essential tools for benchmarking equity performance and allocating FTSE Global Equity Index Series offers a comprehensive representation of global equity markets by covering companies across 49 developed and emerging markets. The indices are structured to include companies by market capitalisation tier—ranging from large-cap to micro-cap—and are reviewed quarterly to ensure they reflect current market conditions. Index constituents are determined based on factors such as market capitalisation, liquidity, and free in an FTSE GEIS index is often seen as a milestone for listed companies, as it enhances global visibility and can drive increased capital inflows from passive and active funds benchmarked to these on the announcement, Saifee Rupawala, CEO of Lulu Retail, said, "Our inclusion in the FTSE Global Equity Index Series is a landmark achievement and underscores the strength of our retail model, operational scale, and the trust investors have placed in our vision. It enhances our visibility on the global stage and opens new avenues for engagement with long-term international capital." Founded in 1974, Lulu Retail operates 255 stores across all six GCC countries, including hypermarkets, express stores, and mini-markets. The company also has a growing digital presence through mobile and online platforms. Source: Aletihad - Abu Dhabi
Arabian Business
14-05-2025
- Business
- Arabian Business
Five new stores push Lulu's Q1 revenue to $2.1bn, up 7.3% YoY
With five new stores and strong trading during the Ramadan period, Lulu Retail Holdings (Lulu) posted a strong set of numbers for the first quarter of 2025. The largest pan-GCC full-line retailer's revenue grew 7.3 per cent year-on-year to US$2.1 billion, with EBITDA up 6.4 per cent to US$214.1 million. EBITDA margin was stable at 10.3 per cent, compared to 10.4 per cent in Q1 2024. Net profit for the quarter reached US$69.7 million, up 15.8 per cent YoY, with net profit margin of 3.4 per cent, which was 25 basis points compared to Q1 2024. Lulu posts strong Q1 During the quarter, Lulu opened five new stores, including in Makkah and Madinah. The company reiterated its target of 20 new stores during the full year 2025. It also reported strong growth in e-commerce sales, which was up 25.3 per cent YoY to US$93.4 million, or 4.7 per cent of retail revenue. Saifee Rupawala, Chief Executive Officer of Lulu, commented: 'We are pleased to have demonstrated good growth in the first quarter of this year, with revenue up 7.3 per cent YoY. This was underpinned by a combination of like-for-like sales growth, supported by strong trading during the Ramadan period, and our store rollout programme, which remains well on track with five stores opened in the quarter. 'Lulu made good progress on delivering on our overall growth strategy, supported by robust sales in private label and e-commerce, which remain key components of our strategy. 'Looking ahead, we expect our growth momentum to continue as we remain focused on several initiatives under each of our four key pillars, including driving growth in our existing store network, opening new stores, operational efficiencies and delivering further upside through our private label and e-commerce offerings.' Fresh food category revenue grew 7.9 per cent YoY in the first quarter, helped by the Ramadan period and improved consumption trends. Electrical goods category performed well, with revenue growing 29 per cent, mainly due to an increase in sales of higher-value items. Lifestyle products grew 6.9 per cent despite pressure as customers opted for more value products. Consumer Packaged Goods (CPG) sales was steady at +1.4 per cent. The UAE, Lulu's home and largest market, recorded a mid-single digit revenue increase of 5.2 per cent, led by particularly strong performance in the fresh food segment, which grew 15.6 per cent YoY. This was supported by strong e-commerce sales in the country, which rose 40.1 per cent, supported by an increase in sales through aggregators. In Saudi Arabia, revenue rose by 10.3 per cent, primarily because of new store openings in the last 12 months and strong LFL growth. Revenue in Oman was up 7.8 per cent, while it improved 6.7 per cent YoY in Qatar. Gross profit increased 4 per cent to US$464.5 million, with gross margins reaching 22.3 per cent in the period, down 70 basis points compared to last year. This margin reduction was mainly due to promotional campaigns to drive higher footfall into Lulu stores during the festive period. During the quarter, Lulu's net debt decreased to US$2.3 billion, which led to net debt/EBITDA improving from 3.2x in December 2024 to 2.9x at the end of Q1 2025. Lulu opened two hypermarkets and three express stores, adding 22,339 sqm of retail space in the period, increasing the company's total retail space to 1.34 million sqm. The new stores included a hypermarket in Makkah and an express store in Madinah. It also opened two express stores in the UAE, and a hypermarket in Bahrain.
Zawya
14-05-2025
- Business
- Zawya
Abu Dhabi's Lulu Retail posts 16% rise in Q1 net profit, beats estimate
UAE's Lulu Retail Holdings Plc posted Q1 2025 net profit of $69.7 million, 16% higher year-on-year (YoY), supported by growth in e-commerce sales in the UAE. The result came above analysts' mean estimate of $65 million, according to LSEG data. Revenue for the quarter came to $2.1 billion, up 7.3% YoY, with like-for-like sales up 3.6% YoY driven by strong sales during Ramadan period, the Abu Dhabi ADX-listed supermarket operator said. E-commerce sales grew 25.3% YoY to $93.4 million and accounted for 4.7% of retail revenue. (Writing by Brinda Darasha; editing by Seban Scaria)
Arab News
13-05-2025
- Business
- Arab News
Lulu's ‘Australia Week' showcases growing bilateral trade
Lulu Retail has officially launched 'Australia Week 2025' across all its stores in Saudi Arabia, celebrating the strong partnership between Saudi Arabia and Australia in food security and trade. The event was inaugurated at Lulu's Diplomatic Quarter branch in Riyadh by Australian Ambassador to Saudi Arabia Mark Donovan, in the presence of Shehim Mohammed, director of LuLu Hypermarkets Saudi Arabia, senior officials from the Australian Embassy, and top executives from Lulu. Running until May 17, Australia Week 2025 showcases more than 960 high-quality Australian products from 129 leading brands. Shoppers can explore a curated selection of premium meats, fresh fruit and vegetables, dairy, frozen items, canned goods, and health-oriented foods. This week-long event highlights Australia's reputation for clean, green, and sustainable food production. The initiative coincides with Australia's participation in the Saudi Food Show and the in-store promotions are designed to complement Australia's broader market engagement and deepen trade links with Middle Eastern markets. 'In Australia, we value our close relationship with Saudi Arabia,' Donovan said. Australia Week is a great opportunity to introduce our premium products to Saudi consumers. Lulu Retail is a strategic partner in this effort, and we are proud to present this diverse selection of Australian products to their customers.' Mohammed added: 'At Lulu, we are committed to offering a rich and diverse shopping experience to customers in Saudi Arabia. Australia Week is part of that commitment. Through our partnership with Australia, we are able to provide a selection of high-quality products that align with Saudi tastes and nutritional needs. We are excited to share these exceptional items with our customers.' Bryony Hilless, Australian consul general to Dubai and Austrade general manager for the Middle East, said: 'As the Middle East's population grows and consumers increasingly demand high-quality and reliable food and beverages, Australia has become a secure and trusted exporter to the region. We're proud to partner with Lulu Hypermarkets to showcase much-loved Australian products in-store and to support Australian producers to connect and grow export partnerships in the region.' Austrade Trade and Investment Commissioner Todd Miller highlighted the strategic opportunity of engaging with the Saudi market, saying: 'Australian producers are known the world over for high-quality products produced in sustainable and ethical ways. With Saudi Arabia's Vision 2030 transforming the Kingdom's food and beverage landscape, there are unparalleled opportunities for Australian exporters to provide the innovative, premium products the dynamic food market needs.'
