Today’s news in brief-16/4/25
Inflation in the UK fell more than expected to 2.6% in March 2025, down from 2.8% in February, driven by declines in petrol prices and recreation and culture costs, according to the Office for National Statistics (ONS). The largest downward contributions came from motor fuels, housing, and household services, while clothing and footwear prices provided a partial offset. Core inflation also eased, with CPIH (excluding energy, food, alcohol, and tobacco) dropping to 4.2% from 4.4%. ONS chief economist Grant Fitzner noted falling fuel prices and stable food costs as key factors, while CBI economist Martin Sartorius suggested the Bank of England may cut interest rates next month amid economic uncertainty.
WH Smith reported a drop in high street profits to £15m in the first half of the year, down from £22m, as the group prepares to sell its UK high street business. However, travel profits rose 12% to £56m, with strong growth in UK, North American, and global markets. The retailer secured a major US airport contract and plans to open over 60 new travel stores this year. CEO Carl Cowling expressed confidence in meeting full-year expectations despite geopolitical and economic challenges.
Asda has appointed James Goodman, Tesco’s former UK and ROI people director, as its new chief people officer. Goodman brings extensive retail experience, including roles at Gap and Tesco’s sourcing division in Shanghai. Asda executive chairman Allan Leighton said Goodman’s expertise will support the retailer’s ambition to become a top workplace in the UK. Goodman praised Asda’s workforce and said he looks forward to contributing to the company’s revival.
Iceland Foods has opened a £100m, 500,000 sq ft distribution centre in Warrington, its largest warehouse to date. The facility, developed with GXO Logistics, will employ over 750 people and serve up to 500 stores. Equipped with advanced technology and sustainable features like solar panels, the site aims to enhance supply chain resilience. CEO Tarsem Dhaliwal highlighted the investment’s role in supporting growth and local employment.
Fashion retailer Sosandar has lowered its full-year profit expectations to no less than £500k, down from an initial £1m forecast, following softer trading. Revenue fell to £37.2m as the company shifted away from heavy discounting. However, the brand sees an “inflection point” ahead, with March sales matching last year’s levels and new store openings attracting first-time buyers. The firm remains optimistic about returning to growth.
ProCook reported a 17.8% revenue increase in Q4, reaching £15.5m, with retail and e-commerce sales both rising. The kitchenware retailer opened 12 new stores in the year and outperformed the UK market by 10 percentage points. CEO Lee Tappenden credited strategic investments in stores, product ranges, and marketing for the strong performance, expressing confidence in long-term growth targets.