1. News
January 4, 2018

Al-Futtaim acquires M&S retail outlets in Hong Kong and Macau

Dubai-based Al-Futtaim has acquired Marks & Spencer (M&S) retail stores in Hong Kong and Macau for an undisclosed price.

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Al-Futtaim acquired M&S retail stores in Hong Kong and Macau. Credit: Al-Futtaim.

Dubai-based Al-Futtaim has acquired Marks & Spencer (M&S) retail stores in Hong Kong and Macau for an undisclosed price.

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Al-Futtaim is said to be M&S’ largest franchise partner since it first opened its store in Dubai, UAE, in 1998.

By acquiring 27 M&S stores in Hong Kong and Macau, Al-Futtaim will now operate 72 M&S stores located across 11 markets in Asia and the Middle East.

“We have substantially reshaped our international business, which has improved profitability and positioned us for growth.”

Al-Futtaim M&S’ sports lifestyle division vice-president Stephen Rayfield said: “We are delighted to strengthen our long-term partnership with M&S and expand Al-Futtaim’s international footprint to Hong Kong and Macau.

“Al-Futtaim looks forward to building on our solid foundations as we continue to enrich our customers’ lives and aspirations through the provision of quality products and services in Hong Kong and Macau.”

The sale of retail stores is reported to be part of M&S’ strategic review process, where it proposed to primarily focus on its established franchise and joint venture partnerships and operate with fewer wholly owned markets.

M&S international director Paul Friston said: “We have substantially reshaped our international business, which has improved profitability and positioned us for growth.

“As one of the world’s leading retail operators, with strong logistics capabilities and local expertise, Al-Futtaim is the ideal partner for us to develop and grow our business in Hong Kong and Macau.”

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Walmart: Going Beyond Company Disclosures

Walmart has rounded out its fiscal year with a strong set of numbers that show it has taken supply chain disruption, rising costs, heavy inflation, and various other problems in its stride. There is comfortable growth on both the top and bottom lines, which is extremely respectable given tough prior year comparatives. Walmart hiring is slowing down as compared to hiring in the months of April and March in 2022. Walmart posted close to 40,000 vacancies in March and 30,000 in April, which has gone below 10,000 in June 2022. Walmart Company Filings has most of the mentions related to the ESG and COVID-19 themes in 2021. ESG has more than 300 mentions in the company’s 2021 filings which indicates the rising focus on ESG-related issues. Our report on Walmart: Going Beyond Company Disclosures, demonstrates GlobalData Explorer’s ability to:  
  • Track and monitor a company’s movements through alternative indicators to gain insights into the strategy before it is disclosed by the company
  • Gain insight into a company’s capital deployment strategy, by assessing historical deal volumes and specific transactions executed by the company, in addition to identifying sectors of focus
  • Go beyond basic financial information, to access key industry-relevant indicators for a company and how these have progressed over time
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by GlobalData
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