Today’s news in brief-5/3/25

Walgreens Boots Alliance, owner of Boots, is in advanced talks with private-equity firm Sycamore Partners for a potential $10 billion deal to take the struggling drugstore chain private. This move comes amid Walgreens’ shares declining sharply over the past decade, from a peak market value of over $100bn in 2015 to under $8bn in 2024. Sycamore’s proposed deal could value each share between $11.30 and $11.40, with additional contingent rights tied to performance targets. Stefano Pessina, a key figure with a 17% stake in Walgreens, might become the principal owner of Boots depending on the deal’s structure.

Virgin Wines announced the retirement of Graeme Weir, its CFO and company secretary for 22 years. Weir played a pivotal role in the company’s growth, overseeing a private equity buyout in 2013 and an IPO in 2021. Amanda Cherry, with 16 years at Virgin Wines and extensive financial experience, will succeed him, ensuring continuity in leadership.

Games Workshop reported a robust start to 2025, exceeding profit expectations driven by strong sales in its core business and licensing, buoyed by anticipation surrounding its partnership with Amazon for a TV and film series. This success has propelled its shares to new highs, reinforcing its position in the FTSE 100.

B&Q announced an increase in its minimum hourly wage to £12.71, ahead of UK government benchmarks and a move aimed at rewarding its workforce and enhancing customer service. This decision underscores B&Q’s commitment to competitive compensation and employee development.

M&S emerged as a winner during Valentine’s Day, with nearly £1bn spent on food and gifts. Its “Dine-in for two for £25” offer contributed significantly to sales growth, reflecting consumer preferences for dining at home amid economic uncertainties.