Today’s news in brief-10/3/25

WH Smith is nearing a decision on the sale of its high street business, with two bidders, Alteri Investors and Modello Capital, remaining in the race. The retailer, which has seen its Travel business outperform high street outlets, confirmed in January it was exploring strategic options, including a potential sale. WH Smith’s high street profits fell by 9% to £39m for the year ending 31 August, while total group revenue rose 7% to £1.9bn, driven by strong performance in travel, air, hospital, and rail segments. A deal could be announced alongside interim results in April. John Lewis staff may miss out on their annual bonus for the fourth time in the company’s history, as the group is expected to fall short of its £131m profit target. Weak festive sales, attributed to lower consumer confidence, have impacted performance. Despite an anticipated profit rise to £120m, this falls below the £150m threshold required for bonus payments. John Lewis, which axed bonuses in 2020 and 2023, will announce its decision this month. Meanwhile, the retailer has committed to a 7.4% pay increase for shop workers, investing £114m in staff wages for 2025. Asda is reportedly selling nearly 10 acres of car parking space across five locations to reduce debt, potentially raising £5m. The supermarket has identified surplus land in Slough, Reading, Burgh Heath, Tilbury, and Cardiff, offering 125-year leases for development into shops or homes. This move follows Asda’s sale of its Park Royal superstore in 2023 and is part of chairman Allan Leighton’s turnaround plan to address the supermarket’s declining performance. Matalan has appointed Sarah Welsh, former CEO of N Brown, as its new chief product, brand, and commercial officer. Welsh, with 30 years of retail experience, will focus on enhancing Matalan’s customer proposition and expanding its market share. She previously led N Brown’s digital transformation and held senior roles at Oasis Fashion, Miss Selfridge, and River Island. UK retail footfall rebounded by 1.8% in early March 2025, driven by a 4.2% rise in high street activity. However, shopping centres saw a 1.6% decline, reflecting cautious consumer behaviour ahead of delayed seasonal events like Mother’s Day and Easter. High streets benefited from warmer weather, with coastal towns and Greater London recording double-digit footfall increases. Regional performance was strong, particularly in the East of England and South West, though shopping centres and retail parks lagged behind 2024 levels. Seasonal shifts are expected to balance out over time.