Today’s news in brief-28/3/25
WHSmith has agreed to sell its high street retail arm to Modella Capital in a £76m deal, marking a significant shift for the historic brand. The acquisition includes around 480 stores across the UK, which will be rebranded as TGJones. WHSmith will retain its travel and international operations, including stores in airports, hospitals, and railway stations. Modella Capital assured customers that existing services, such as Post Office counters and Toys “R” Us sections, will remain unchanged while new product ranges are introduced. Sean Toal, CEO of the new TGJones business, expressed confidence in Modella’s leadership, calling the sale a milestone for WHSmith’s growth strategy.
UK retail sales saw an unexpected 1% rise in February, driven by strong performances in non-food sectors such as household goods, clothing, and department stores. The Office for National Statistics reported a 6.8% monthly surge in household goods sales—the highest since April 2021—while demand for jewellery and watches increased amid economic uncertainty. However, food sales fell by 2%, with supermarkets citing price pressures. Online sales rebounded to 26.5% of total retail spending. Despite the uptick, sales volumes remain below pre-pandemic levels. The British Retail Consortium urged the government to provide policy clarity to support industry growth.
Asda has unveiled an £80m investment in staff pay, raising its hourly wage to £12.60 from October—a 4.7% increase. London-based staff will earn £13.82 per hour. The supermarket also introduced enhanced family-friendly policies, including extended maternity, paternity, and kinship carer leave. Hayley Tatum, Asda’s chief people officer, highlighted the retailer’s £500m pay investment since 2021. Trade union Usdaw welcomed the move, noting it aligns with the real Living Wage.
Decathlon has appointed Javier López as its new CEO, replacing Barbara Martin Coppola after her three-year tenure. López, a 26-year veteran of the company, previously led Decathlon’s operations in Germany and Spain before becoming global chief value chain officer. He pledged to accelerate the brand’s economic and sustainability goals. Coppola, credited with strengthening Decathlon’s circular economy initiatives, expressed confidence in López’s leadership. Chairman Julien Leclercq praised Coppola’s impact and López’s ability to drive future growth.