Today’s news in brief-13/2/24

Yodel has been rescued by rival company Shift, marking a significant development in the logistics sector. Yodel, acquired by YDLGP Limited, backed by Shift and other investors, is set to merge with Shift, known for successfully revitalising the Tuffnells brand. The merger aims to create a robust logistics platform catering to both parcel and larger freight markets. The Shift leadership team’s expertise promises to bolster Yodel’s operations, securing jobs and ensuring continuity for customers, employees, and stakeholders.

Adverse weather conditions in the UK have led to a notable decrease in footfall across retail destinations. Heavy rain and snowfall resulted in a 5.2% decline in footfall compared to the previous year, impacting high streets the most. However, despite the overall decrease, retail parks and shopping centres demonstrated resilience in the face of adverse weather, hinting at their continued importance in the retail landscape.

Frasers Group has increased its stake in fashion retailer N Brown to 20%. This move is part of a series of strategic investments by Frasers, which also includes increasing stakes in other retailers like Boohoo and Asos. These investments come amidst Frasers’ legal battle with Morgan Stanley, highlighting the complex dynamics within the retail sector.

Aldi has announced plans to invest over £550m in expanding its store and distribution network in 2024. This investment follows Aldi’s successful Christmas season and its commitment to supporting British suppliers and growers. The expansion aims to create new job opportunities and increase Aldi’s presence across the UK, reinforcing its reputation for quality and affordability.

Matalan has appointed Dave Williams as its new chief financial officer, succeeding Stephen Hill, who has decided to step down after 23 years in the role. Williams brings over 20 years of retail experience to the position, having previously held key roles in companies like Poundland and JD Sports. Hill’s contributions to Matalan’s growth and stability are acknowledged, and he will continue to support the business in an advisory capacity.