Today’s news in brief-3/7/24
JD.com is reportedly considering a bid for parcel delivery company Evri, progressing to the second stage of bidding after making a non-binding offer last month. Competing companies include InPost and Cainiao, Alibaba Group’s logistics arm, as well as Apollo Global Management. Evri, formerly Hermes, has been exploring options including a possible sale, potentially valuing the company at around £2bn. Evri’s private equity owner, Advent, previously took a £762m dividend and left the company with over £1bn in debt.
Marks and Spencer (M&S) plans to open new flagship stores in Bath and Bristol, investing £21m and £17m respectively. The new Bristol store at Cabot Circus, covering 80,000 sq ft, will offer food, clothing, and beauty products, creating approximately 150 jobs. The new Bath store, set to open in SouthGate Shopping Centre, spans 83,000 sq ft and will offer relocation opportunities for employees from the current Stall Street location.
Asda has appointed David Devany as vice president for ecommerce, bringing over 25 years of experience in ecommerce, digital, and marketing. Devany, previously with Iceland Foods, will focus on growing Asda’s online market presence. This appointment comes after Asda reported record online grocery sales in 2023, with 39 million orders worth £3.2bn and achieving its highest grocery market share at 20.8%.
Topps Tiles reported a 6.9% year-on-year decline in sales for the third quarter ending 29 June, consistent with the 9.2% decline observed in the first half of the year. The overall trading environment remains challenging due to subdued demand in the domestic repair, maintenance, and improvement sector, particularly for larger projects. Despite this, the group’s online Pure Play business showed significant year-on-year sales growth, with Topps Tiles maintaining its market share.
B&Q has appointed Joanna Gluzman as director of responsible business, tasked with leading the company’s sustainability strategy and roadmap towards carbon net zero. Gluzman brings over 25 years of experience in ESG and investor relations, previously holding senior roles at PZ Cussons, Avon Cosmetics, and BT Group. At B&Q, Gluzman aims to help millions of customers make sustainable choices and enhance the company’s sustainability achievements.
