Today’s news in brief-3/11/23

In October, footfall in the UK dropped by 5.7% year-on-year, with high streets experiencing a 4.6% decrease, compared to a -1.7% in September. Retail parks and shopping centres also saw declines of 4.3% and 7.3% respectively. England had the smallest drop at 5.3%, followed by Scotland at 1.4%, Wales at 5.6%, and Northern Ireland at 6.8%. The British Retail Consortium attributes the decrease to heavy rainfall deterring shoppers, while highlighting ongoing economic challenges.

Walgreens Boots Alliance (WBA) has named Neal Sample as its new executive vice president and chief information officer (CIO). With over 20 years of experience in regulated industries, including healthcare and finance, Sample will lead WBA’s IT strategy and focus on enhancing the digital experience for customers and patients.

Umar Kamani, founder of PrettyLittleThing, has shown interest in purchasing the struggling fashion brand TopShop from Asos. This comes amid reports that Asos is in talks with various companies about a possible sale of TopShop, which it acquired in 2021. Kamani, a member of the Boohoo Group, aims to revive TopShop’s former glory.

Wickes anticipates meeting its FY24 guidance with an adjusted pre-tax profit range of £45.3m to £49m. Despite a 0.2% overall decline, the DIY retailer experienced 1.1% like-for-like sales growth in Q3. TradePro sales continued to show double-digit growth, though some delays in delivered sales were attributed to a transition in software solutions.

Currys has entered an agreement to sell its Greek and Cypriot business, Kotsovolos, for an enterprise value of €200m (£175m). The decision follows a strategic review, with the board deeming the sale strategically rational and beneficial for shareholders. The move allows Currys to focus on larger markets in the UK, Ireland, and Nordics, with the disposal expected to complete in Q1 2024, subject to shareholder approval.