September 26, 2012

Clothing retailer Penshoppe to open 54 stores in Middle East region

Philippines-based clothing retailer and a flagship brand of Golden ABC, Penshoppe, plans to expand its retail presence in Middle East region.

By RBR Staff Writer

Philippines-based clothing retailer and a flagship brand of Golden ABC, Penshoppe, plans to expand its retail presence in Middle East region.

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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:  
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The retailer will open 54 new stores over next five years with the first store to be unveiled at the Reef Mall in Deira, Dubai on 15 October 2012.

Penshoppe’s second store in Dubai will open at the new Hamsah Commercial Complex in December 2012, reported Inquirer Business.

KN Retail, a unit of KN Interior Design will be Penshoppe’s franchisee for Dubai, Abu Dhabi and Sharjah.

The opening of the two stores in Dubai will bring the number of Penshoppe stores in the Middle East to 10 alongside its seven stores in Saudi Arabia and one in Manama, Bahrain.

Golden ABC business development vice president Albert On told the website that over a period of five years, the company intends to expand its presence in these markets and break into new markets like Qatar, Kuwait, Oman, Jordan and Israel.

Over the next five years, Penshoppe’s store network in the UAE will expand to 12, of which four will open in 2013-2014 in the emirates of Abu Dhabi, Sharjah and Fujairah.

The retailer also plans to enter the Israeli market and open stores in Tel Aviv, Haifa, Ramla and Nazareth from 2013 to 2018.

Continuing its expansion plans, Penshoppe had announced a franchising deal in Indonesia last week, where at least 150 stores are expected to come up over the next 10 years.

Established in Cebu in 1986, Golden ABC now operates 600 stores in the Philippines and owns brands which include Oxygen, ForMe, Memo, Regatta, Tyler and direct-selling subsidiary Red Logo.

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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
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.