Under this partnership, 13 retail and dining destinations will be introduced at Souq7, collectively spanning approximately 9,000 square meters of gross leasable area

Saudi Arabia – Azad Properties has signed a landmark leasing agreement with Apparel Group, one of the region’s leading retail conglomerates, to bring a curated portfolio of globally recognized and high-performing retail and F&B concepts to Souq7 in Jeddah.

Under this partnership, 13 retail and dining destinations will be introduced at Souq7, collectively spanning approximately 9,000 square meters of gross leasable area. The mix includes established favorites such as Wings Stop, R&B, Tim Hortons, Allo Beirut, Nando’s, Skechers, Grand Centre, Cold Stone, BBZ, Crocs, Babies and More, Sushi Library, and Beverly Hills Polo Club.

Set to open in Q4 2025, these new retail experiences are part of a phased activation strategy that reinforces Souq7’s positioning as a next-generation urban destination, where local culture meets global retail. The integration of these brands reflects a commitment to delivering a differentiated shopping and dining experience tailored to the expectations of Jeddah’s dynamic consumer base.

“Partnering with Apparel Group, one of the region’s most influential retail forces, elevates Souq7’s experience and offering, as we continue our journey to shape a destination where cultural relevance, community connection, and curated experiences come together.” said Ayman Al Burti, CEO of Azad Properties.

This agreement builds on Azad Properties’ strategic growth agenda and underscores Apparel Group’s confidence in Souq7’s unique offering and long-term potential as a cornerstone in Jeddah’s evolving retail landscape.

News Credits- ZAWYA BY LSEG

In the second quarter of 2025, Adidas reported a 12% year-over-year increase in revenue at constant currency. In U.S. dollar terms, revenue rose by 2% to $6.84 billion, with a $345 million negative impact due to the strengthening of the euro.

For the first half of the year, revenue at constant currency climbed 14%, while dollar-denominated revenue increased by 7% to $13.92 billion. Operating profit reached $1.33 billion, up from $784.3 million, and net income more than doubled, rising by 112% to $933 million.

The German sportswear group expects to continue gaining market share and anticipates strong sales growth throughout 2025, forecasting a high single-digit increase in revenue at constant currency.

This outlook is supported by sustained double-digit growth of the Adidas brand. The company has reaffirmed its full-year guidance for operating profit, which is projected to range between $1.96 billion and $2.07 billion.

News Credits- FASHION NETWORK

Supermarket chain Co-op has become the first UK grocer to partner with Deliveroo Express, rolling out the delivery platform’s new white label logistics solution to provide quick and convenient online deliveries.

Using Deliveroo’s back-end tech infrastructure and extensive rider network to fulfil orders from hundreds of Co-op sites nationwide, customers will be able to order items and have them delivered in as little as 60 minutes, according to Deliveroo.

Suzy McClintock, VP of new verticals at Deliveroo, said, “We’re thrilled to continue our partnership with Co-op as they adopt our white label delivery solution, supporting fast and reliable on-demand deliveries through their existing website.

“Deliveroo Express is the next step in our mission to transform on-demand delivery, ensuring we remain the partner for growth, for grocers and retailers alike, helping them reach more consumers through their own online channels.”

Co-op was Deliveroo’s first major grocery partner when it launched its grocery business in 2018. Most recently, Deliveroo launched Co-op’s membership benefits on the app, enabling Co-op members to benefit from member price savings on their orders through Deliveroo.

Chris Conway, Co-op quick commerce director, commented, “Growing our quick commerce channel is a core part of our strategic approach, and I am delighted to build on our long-standing and successful partnership with Deliveroo.

“Working together we are focused on meeting the evolving needs of shoppers. This includes making the fast and reliable delivery of Co-op groceries available to more communities and creating value through member price savings as we see consumer appetite for quick and convenient grocery delivery from their local Co-op continue to grow.”

Author Credits- HAZEL KING
Parcel and postal technology INTERNATIONAL

Gap Inc.-owned activewear label Athleta has named Maggie Gauger as global brand president and CEO.

In this role, effective August 1, she succeeds Chris Blakeslee, who will step down and remain with the company temporarily as an advisor to ensure a smooth transition.

“We are thrilled for Maggie Gauger to join as CEO of Athleta as we look to accelerate the brand’s reinvigoration. Maggie blends proven business transformation capabilities, deep consumer centricity, product fluency, and a heartfelt commitment to empowering women and girls. This combination of skills and experiences will equip her to lead Athleta into its next chapter of growth – rooted in purpose, performance, and people,” said Gap Inc. CEO, Richard Dickson.

Gauger joins the performance lifestyle brand with more than two decades of leadership experience at Nike, where she most recently led the North America women’s business. Gauger’s track record spans retail, strategy, merchandising, product creation, commerce, digital, and general management.

“I’m energized to bring my experience working at the intersection of sport, style and culture to Athleta – a brand with strong purpose and still so much untapped potential,” said Gauger. “Athleta has an unwavering mission focused on the power of women – not just as athletes, but as leaders, creators, and change-makers. And I can’t wait to work with the incredible Athleta team to grow, to lead, and to inspire the next generation through the power of product and community.”

Her appointment marks a significant step in Gap Inc.’s strategy to reinvigorate its portfolio of iconic American brands.

Author Credits- Jennifer Braun
FASHION NETWORK

PayPal Holdings Inc. shares dropped 10% after the firm posted slower growth in payment volume and executives said they were seeing softer retail spending due to the US tariff wars. Shares were trading 7.8% lower at $72.13 at 10:15 a.m. (EDT).

(Bloomberg) — PayPal Holdings Inc. shares fell the most in almost six months after reporting slower growth in payment volume, and company executives said they were seeing softer retail spending as a result of the US tariff wars.

“We did see a slight deceleration” in consumer spending, Chief Financial Officer Jamie Miller said on a call with analysts Tuesday, saying goods made in China were taking a particular hit.

PayPal-branded checkout volume increased by 5% in the quarter, down from a 6% increase in the first three months of the year, PayPal said in a presentation Tuesday. The macroeconomic environment and consumer spending has been uneven, PayPal Chief Executive Officer Alex Chriss said on the call, with less robust US spending at businesses most hit by tariffs, such as Asia-based merchant.

PayPal shares slumped as much as 10%, the biggest intraday decline since Feb. 4. They were down 7.8% to $72.13 at 10:15 a.m. in New York.

San Jose, California-based PayPal has attempted to make the brand more prominent, an effort that’s started to bear fruit. The firm raised its outlook, saying it now expects this year’s per-share adjusted earnings to be $5.15 to $5.30 this year, up from a previous forecast of $4.95 to $5.10, PayPal said in a statement Tuesday.

Chriss has been investing in unifying the once-sprawling enterprise. While the strategy hasn’t enjoyed uninterrupted success, revenue gains allowed PayPal to also raise its outlook for transaction margin dollars, which represents how much the company earns from processing transactions after expenses.

That metric, a key measure of Chriss’ success in moving the company into sustained profitability, is now expected at $15.35 billion to $15.5 billion this year, up from a previous forecast of $15.2 billion to $15.4 billion.

PayPal reported a 7% increase in second-quarter transaction margin dollars, which climbed to $3.84 billion.

“We delivered another quarter of profitable growth, driven by continued strength across many of our strategic initiatives,” Chriss said in the statement.

Adjusted net income was $1.37 billion for the second quarter, up 10% from a year earlier. And adjusted diluted earnings per share of $1.40 topped Wall Street analyst estimates.

Under the CEO’s leadership, the firm has focused on monetizing its existing businesses and leveraging the PayPal brand both in person and online. Venmo revenue, for example, increased 20% in the quarter, the company said in a presentation.

PayPal reported $443.5 billion in total payment volume during the second quarter, beating analyst estimates of $435.7 billion.

PayPal recently announced a platform to enable customers to use their domestic digital wallets to make purchases globally, and the company will allow businesses to accept more than 100 different cryptocurrencies at checkout.

In June, PayPal also added a new credit card to its roster to bolster its in-person checkout presence.

News Credits- mint