Today’s news in brief-28/2/25
London Mayor Sadiq Khan has launched a public consultation on proposals to pedestrianise Oxford Street, aiming to transform it into a greener, more vibrant destination. The consultation, open until 2 May, seeks public input on creating a Mayoral Development Corporation to oversee the area’s regeneration. Oxford Street, contributing £25bn annually to London’s economy, has faced challenges from the pandemic, online shopping, and out-of-town retail centres. Khan’s vision includes attracting more visitors, boosting investment, and creating jobs, with support from businesses and local councils. Dee Corsi of New West End Company welcomed the initiative, highlighting its potential to revitalise the area and benefit London’s economy.
Whole Foods Market is set to open its first new UK store since 2014 on London’s King’s Road on 25 March. The 21,800-square-foot store will feature sustainable seafood, a full-service meat counter, prepared foods, and a wellness section. Jason Buechel, CEO of Whole Foods, emphasised the company’s commitment to expanding its presence in the UK, offering high-quality natural and organic products. The new store aligns with Whole Foods’ mission to nourish people and the planet, reflecting growing consumer demand for sustainable and premium grocery options.
TJX Companies, parent company of TK Maxx and Homesense, reported a 4% increase in net sales to $56bn (44.4bn) for the year ended 1 February 2025. Despite a shorter fourth quarter, the company achieved a pre-tax profit margin of 11.6%, driven by lower inventory shrink expenses. CEO Ernie Herrman praised the company’s performance, highlighting strong comparable store sales growth and the opening of its 5,000th store. TJX remains optimistic about future growth, focusing on its off-price retail model and expanding its global footprint.
Marks & Spencer (M&S) is expanding its partnership with Applegreen, opening 20 new food stores in Ireland by the end of 2025. The “shop-in-shop” locations will offer over 400 M&S products, with plans to grow the network to 60 stores. The first new outlet opened in Ennis this month, with further investments in Click & Collect services and store upgrades. Mark Ryan of Applegreen and Eddie Murphy of M&S highlighted the success of their collaboration, aiming to bring M&S’s quality food range to more customers across Ireland.
Former Poundland managing director Austin Cooke has been appointed as managing director for trade at Howdens. Cooke, who spent over seven years at Poundland, brings extensive retail experience to the role. His appointment follows Howdens’ full-year results, which showed a 0.5% rise in revenue to £2.3bn and a 0.2% increase in profit before tax to £328.1m. Cooke expressed enthusiasm for joining Howdens, praising its culture and growth potential. The company, with over 850 depots across the UK and Europe, continues to strengthen its position in the market under new leadership.
