Latest news with #LuluRetailHoldings
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
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)
