Today’s news in brief-31/3/25
Primark CEO Paul Marchant has resigned with immediate effect following an investigation into an allegation regarding his behaviour towards a woman in a social setting. Parent company ABF launched an external probe, after which Marchant acknowledged his “error of judgement” and apologised to the individual, the board, and Primark employees. ABF CEO George Weston expressed disappointment, emphasising the company’s commitment to integrity and respect. Eoin Tonge, ABF’s finance director, will serve as interim CEO while Joana Edwards steps in as interim finance director.
Boohoo Group has finalised its rebrand to Debenhams Group despite opposition from Frasers Group, its major competitor and shareholder. While 62% of shareholders approved the name change, Frasers—which owns a significant stake—voted against it. The Debenhams Group board dismissed Frasers’ resistance as self-interested, confirming the rebrand will proceed with a new stock market ticker, “DEBS.” CEO Dan Finley hailed the move as a blueprint for the group’s turnaround.
Pets at Home has warned of a profit dip in FY26, forecasting retail profits between £115m and £125m amid economic uncertainty and rising costs, including new packaging regulations and higher National Insurance contributions. However, group pre-tax profits for FY25 are expected to meet guidance at £133m. The retailer has consolidated online operations into a single distribution centre and plans to expand its vet business, targeting at least 10 new practices in FY26. CEO Lyssa McGowan acknowledged market challenges but expressed confidence in long-term growth.
Majestic Wine has agreed to acquire premium supplier Enotria&Coe, aiming to strengthen its position as a leading UK drinks distributor. Both businesses will operate independently, with Majestic citing growth potential in the on-trade sector. Enotria&Coe, known for its exclusive wine and spirits portfolio, supplies top hospitality venues. Majestic CEO John Colley praised the alignment of values, while Enotria&Coe’s Julian Momen highlighted opportunities for shared growth. The deal’s financial terms remain undisclosed.