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Kendall and Kylie Jenner broke free from their famous clan today to go on a big Beverly Hills shopping trip.
Toting tons of blue shopping bags, the model sisters skipped merrily down the street.
They had spent about an hour at Kitson's, a Beverly Hills boutique.
High heeled: Kendall and Kylie Jenner broke off from the rest of their family today for some quick retail therapy
No time to dally: Kendall seemed to be in a hurry to get home
The girls have a good reason to be happy - they finished their high school exams last week and have the entire summer off.
Kendall, 16, and her 14-year-old sister were having lunch with big sister Kim Kardashian and brother, Rob, earlier in the day.
It was 31-year-old Kim who spilled the beans about their luncheon date when she tweeted a photo of them gathered around a buffet table.
Skinnies: Both girl slipped into some skinny jeans for the outing
Front and centre: Kim tweeted this photo today of her with siblings Kylie and Rob
Sisterly love: Kylie and Kim posed for a cute Instagram shot together
Kylie was wearing the same opaque yellow shirt at lunch as she was while shopping.
While Kendall and Kylie will be featured this Sunday on an Oprah segment about the Kardashian family, it's Kim who is expected to be the center of the talk show queen's interview.
Kendall, who quickly becoming a hit in the modeling world, wore towering blue high heeled shoes today that made her look as tall as a professional basketball player.
Little fashionista: Kendall sipped on a Starbucks drink as she perused the boutiques
While both sisters have the summer off, they won't be playing video games and watching television.
As the youngest girls in the hard-working family - their father is Olympian Bruce Jenner - they'll be expected to make appearances for the family businesses, including the Kardashian Khaos store in Las Vegas.
Stylish mother: Kris Jenner arrived with her husband Bruce at her daughter Kim's house during the day
Costco buys out partner's stake in Mexican division - Seattle Times
Costco Wholesale is buying the 50 percent stake held by Controladora Comercial Mexicana in its Mexican division for about $760.4 million, the companies announced Thursday.
Costco and Controladora have each had a 50 percent interest in Costco de Mexico, which Costco Wholesale ran.
At the same time, Costco Mexico declared a dividend of approximately $340.9 million, which will be split evenly between a Costco Wholesale subsidiary and Controladora.
Costco Wholesale said it will use its share of the dividend along with cash on hand and investment balances to pay for the acquisition.
The buyout will consolidate control under the management of Issaquah-based Costco Wholesale and give Mexico City-based Controladora cash to pay down debt.
The joint venture has grown little in recent years, so Costco Wholesale will probably put more money into its Mexican operations, said Carlos Hernandez, an analyst with Planet Retail in Madrid.
"Costco hasn't grown that much in Mexico," Hernandez said.
"Controladora didn't have money to expand its own stores let alone the joint-venture stores with Costco. Now, Costco can expand into other cities."
Costco Wholesale has 32 stores in Mexico, the same number it had in 2009, Hernandez said.
Janney Capital Markets analyst David Strasser said he expects the deal will add 10 to 12 cents per share to Costco Wholesale's earnings over the next twelve months, and he raised his estimates based on the announcement.
Stifel Nicolaus analyst David Schick was bullish on the long-term prospects for business in Mexico
Costco Mexico CEO Jaime Gonzalez Solana will remain in the post and Controladora Chairman Guillermo Gonzalez Nova and CEO Carlos Gonzalez Zabalegui will continue as board members.
The deal still needs the approval of Controladora shareholders and the Mexican Federal Competition Commission.
Costco Wholesale runs 602 warehouses, including 435 in the United States and Puerto Rico, 82 in Canada, 22 in the United Kingdom, 13 in Japan, eight in Taiwan, seven in South Korea and three in Australia.
Its stock closed Thursday at $89.83, up $2.40, or 2.7 percent. It has had a 52-week trading range of $70.22 to $92.10 per share.
Information from The Associated Press and Bloomberg News is included in this report.
Costco Wholesale Corporation and Controladora Comercial Mexicana Agree to Transaction Concerning Costco de Mexico - msnbc.com
ISSAQUAH, WA and MEXICO CITY — Costco Wholesale Corporation (NASDAQ: COST) ("Costco Wholesale") and Controladora Comercial Mexicana, S.A.B. de C.V. ("CCM") are pleased to announce that they have executed a definitive agreement under which wholly-owned subsidiaries of Costco Wholesale will purchase from CCM its 50% share interest in Costco de México, S.A. de C.V. ("Costco México"), a joint venture, for $10,650 million MXN (the equivalent amount in U.S. dollars is $760.4 million based on an exchange rate of 14.006 pesos to the dollar). In addition, Costco Mexico has declared a cash dividend of approximately $4,774 million MXN (the equivalent amount in U.S. dollars is $340.85 million based on an exchange rate of 14.006 pesos to the dollar), 50% payable to a subsidiary of Costco Wholesale and 50% to CCM. Costco Wholesale will use the dividend proceeds and existing cash and investment balances to fund the purchase. CCM will use the dividend and sale proceeds to pay down debt.
The Costco México joint venture has been 50% owned by each of Costco Wholesale and CCM and operated by Costco Wholesale. The closing is subject to the approvals of the Mexican Federal Competition Commission and the shareholders of CCM. Mr. Guillermo González Nova, and Mr. Carlos González Zabalegui, respectively Chairman and CEO of CCM, will continue as members of the Board of Directors of Costco México. Mr. Jaime Gonzalez Solana will continue as CEO of Costco México.
Costco Wholesale currently operates 602 warehouses, including 435 in the United States and Puerto Rico, 82 in Canada, 32 in Mexico, 22 in the United Kingdom, 13 in Japan, eight in Taiwan, seven in Korea and three in Australia. The Company also operates Costco Online, an electronic commerce web site, at www.costco.com and at www.costco.ca in Canada. The Company plans to open up to an additional six new warehouses prior to the end of its fiscal year on September 2, 2012.
A brief conference call to discuss the transaction is scheduled for 8:00 a.m. (PT) on June 14, 2012, and is available at 800-399-8203 or via a webcast on www.costco.com (click on Investor Relations and "Play Webcast").
Certain statements contained in this document constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. For these purposes, forward-looking statements are statements that address activities, events, conditions or developments that the Company expects or anticipates may occur in the future. Such forward-looking statements involve risks and uncertainties that may cause actual events, results or performance to differ materially from those indicated by such statements. These risks and uncertainties include, but are not limited to, domestic and international economic conditions, including exchange rates, the effects of competition and regulation, uncertainties in the financial markets, consumer and small business spending patterns and debt levels, conditions affecting the acquisition, development, ownership or use of real estate, actions of vendors, rising costs associated with employees (including health care costs), energy, and certain commodities, geopolitical conditions and other risks identified from time to time in the Company's public statements and reports filed with the Securities and Exchange Commission.
© Marketwire 2012
Dubai Shopping Malls Group unveils its promotion for the fifteenth edition of Dubai Summer Surprises - AME Info
DSMG has been a key sponsor of DSS since its inception running innovative events and activities that have helped brand Dubai as a shopping paradise in summer months. "DSMG is always on the lookout to offer customers increasingly exciting promotions during DSS, as this is in keeping with our mandate to re-energize the mall industry in Dubai and promote shopping and retail trade. Dubai as a shopping hub has always been the first choice for shoppers making it the quintessential value shopping destination. It is even more significant now when UAE is surveyed to be the world's second most international retail market having a presence of 56% international retail brands. This year, we are pleased to launch the three million dirhams worth prizes that fully complements the action-packed DSS being organized by the Dubai Events and Promotions Establishment (DEPE)", said Majid Al Ghurair, Chairman, Dubai Shopping Malls Group.
The participating malls have rolled out additional promotion and events during the month long celebration and shopping is more exciting this summer at all the participating DSMG malls.
The DSMG guarantees surprises and fun-filled activities for all its shoppers during the DSS offering prizes worth three million dirhams. Shop at any of the participating malls to receive a coupon from the mall that you have shopped to enter in the mega raffle. The malls are, Al Ain Centre, Al Ghurair Centre, Al Manal Centre, Al Mulla Plaza, Arabian Center, Burjuman Centre, Century Mall, Deira City Centre, Dubai Outlet Mall, Hamarain Centre, Ibn Battuta Mall, Lamcy Plaza, Mall of the Emirates, Mirdiff City Centre, Oasis Center, Palm Strip, Reef Mall, Sunset Mall, Times Square Center and Twin Towers.
A Weekly Mega Draw beckons prizes in cash and as gift vouchers worth half a million dirhams to four winners during the promotion period. The raffle draw is scheduled for 21st and 28th June and 5th and 14th July 2012. A Weekly Regular Draw will reward 20 winners with prizes worth fifty thousand dirhams with 5 winners in a week availing prizes in cash and as gift vouchers. As part of the joint promotion, MasterCard offers additional chances of winning to shoppers using MasterCard every time they shop. The promotion entitles shoppers using MasterCard to win 5 Emirates Airline return tickets to a destination as a weekly Mega Prize. The draws are held in conjunction with the DSMG raffle draw on 21st and 28th June and 5th and 14th July 2012. In total, 44 winners will get a chance to live it big this Summer Festival.
"MasterCard has been associated with DSS for 13 consecutive years to bring real value to its customers, merchants and cardholders. This year again, MasterCard has introduced a host of exclusive privileges during DSS for consumers to enjoy rewards and prizes while they shop using MasterCard in a participating DSMG mall," said Eyad Al-Kourdi, Vice President & Country Manager, UAE, MasterCard Worldwide. "MasterCard's collaboration with DSMG also helps facilitate commerce in Dubai as one of the top 10 global destinations cities as per MasterCard's Index of Global Destinations 2012," he added.
To top it all, visitors can choose from numerous spas to avail discounted rates for various health and wellness treatments. The fifteenth edition of the DSS targets all age groups with the entertainment attractions and shopping bargains. With unbeatable offers, events and activities, DSS promises unparalleled surprises this summer for the entire family.
Mariners make wholesale roster changes - YAHOO!
Seattle Mariners Should Become Sellers Before …
After losing four straight games to the Los Angeles Angels at home, it appears as Full Story »Seattle Mariners Should Become Sellers Before All-Star Break: A Fan's Take
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South Korea's Lotte Shopping abandons plan to start cash-and-carry venture in India - Economic Times
The retailer, one of Asia's largest with a presence from Russia and China to Vietnam and Indonesia, reckons high property prices and the complex nature of the business make wholesale retailing an unviable proposition in India, a person with direct knowledge of the development said.
The person added that Lotte Shopping had registered Lotte Cash and Carry India Pvt. Ltd with the idea of following in the footsteps of the world's top retailers, including Walmart Stores Inc of the United States and France's Carrefour SA.
Frustrated after waiting for years for India to open up its highly regulated multi-brand retailing for overseas investments, Walmart and Carrefour have rolled out cash-and-carry stores, which sell their wares to other retailers and businesses. Foreign retailers are allowed to own 100% local subsidiaries in wholesale retailing ventures.
Lotte had put together an eight-member team of business development executives, half of them Korean nationals and half Indians. The team began surveying the cash-and-carry model and scouting around for properties in various cities including Mumbai and Pune. Within four months the team concluded that cash-and-carry was a tough model to turn profitable in the country, prompting them to abort the proposed venture, said the person quoted above.
Now, Lotte Shopping has shelved its India plans and its team of Korean executives have either left the country or are in the process of leaving India bag-and-baggage, the person said. The Indian executives barring one have also left. The MD of the company Jin K Kim has also returned to South Korea.
A Lotte Shopping spokesman in Korea said the retailer's executives constantly travel to India to assess the investment climate there. The spokesperson said the company is "still trying" and "waiting for a chance" to open stores in India without specifying when. "We still have two corporate bodies'' in India, he said.
Lotte Shopping had closed its New Delhi office two years ago even as it maintained an office in Mumbai. The person aware of the development said Lotte saw little potential to open its supermarkets or departments stores catering to the burgeoning middle class in India as there are vociferous political opponents against liberalizing the country's retail sector for foreign supermarket operators.
The political standoff in India stems from the fear that allowing foreign supermarket chains in a sensitive sector would drive many of the estimated 12 million small shopkeepers out of business.
Around six years ago, Lotte Shopping had opened a liaison office in New Delhi's Kasturba Gandhi Marg to study the country's retail market and was talking to potential Indian partners even as Lotte's real estate unit was exploring possibility of entering the country's booming property market by building townships in Greater Noida or Gurgaon.
Now, even the real estate representative has left India, according to a former Lotte Shopping employee requesting anonymity. He says Lotte now plans to focus on its retail businesses in China and Indonesia instead.
Hard earned? Seriously?!
- Tash, London, 15/6/2012 06:15
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