Today’s news in brief-6/2/25
Tesco is reportedly considering a takeover of over 100 Crown Post Office branches, potentially safeguarding them from closure as the state-owned Post Office reviews its directly managed network. Post Office chairman Nigel Railton informed MPs that Tesco expressed interest in acquiring the loss-making branches, part of a broader strategic review to transition to a franchise model and improve sub-postmasters’ pay. The Post Office confirmed “hundreds” of expressions of interest from retailers and independent postmasters, emphasising engagement with unions before finalising plans. A deal could preserve around 1,000 jobs, though both Tesco and the Post Office declined further comment.
The European Commission has launched an investigation into Shein as part of a crackdown on non-compliant, low-value e-commerce imports flooding the EU market. With 12m daily parcels—double 2023’s volume—many goods violate EU safety and environmental standards. The Commission introduced a “toolbox” including Digital Product Passports and AI tools to enhance oversight, while proposing stricter controls like removing duty exemptions for sub-€150 parcels. Shein, notified of the coordinated action by the Consumer Protection Cooperation Network, stated it aims to collaborate with authorities to ensure consumer safety. The move aligns with EU efforts to balance e-commerce growth with regulatory compliance.
Pandora reported a 13% rise in annual EBIT to £890m, driven by its ‘Phoenix strategy’ pivoting toward jewelry. Sales grew 13% to £3.53bn, with online revenue accounting for 27%. Q4 organic growth hit 11%, though UK sales dipped 2% amid weak consumer sentiment. The company forecasts 7-8% organic growth and a 24.5% EBIT margin for 2025, with CEO Alexander Lacik citing resilience despite macroeconomic challenges. The UK saw marginal Q2 growth earlier in the year, attributed to increased store traffic.
Asda has named Jo Whitfield, former Matalan CEO and Co-op Food chief, as a non-executive director. Whitfield, who previously held senior roles at Asda’s George brand, will focus on expanding Asda Express, leveraging her convenience retail expertise. Praised for leading Matalan’s turnaround and Co-op’s pandemic response—earning her a CBE—she aims to bolster Asda’s value-driven strategy. Executive chairman Allan Leighton highlighted her deep retail knowledge and alignment with Asda’s customer-centric ethos.
M&S has endorsed Prime Minister Keir Starmer’s push for closer EU ties, calling for an end to “Brexit bureaucracy” that adds millions in costs and delays to Ireland-bound shipments. Alex Freudmann, M&S’s food chief, criticized redundant checks and paperwork, urging alignment with EU food standards to streamline trade. The government is considering a veterinary agreement to reduce border checks, contingent on adopting EU food laws—a move Starmer’s administration sees as vital for economic growth. The EU has signaled openness to renegotiation, provided UK regulations remain synchronised.