Today’s news in brief-6/5/25

Deliveroo has agreed to a £2.9bn takeover by US rival DoorDash, creating a combined entity operating in over 40 countries with annual orders exceeding £10bn. The deal, offering a 44% premium on Deliveroo’s share price, was approved by its board. DoorDash CEO Tony Xu highlighted the potential for expanded innovation, while Deliveroo founder Will Shu praised the shared strategic vision. Post-acquisition, DoorDash will conduct a 6-12 month review to integrate Deliveroo’s operations.

Co-op and M&S continue to face disruptions from cyber attacks claimed by hacker group DragonForce, which alleges theft of 20 million Co-op members’ data. Co-op reports shortages in fresh produce, while M&S has suspended meal deals due to stock issues. Both retailers are working with cybersecurity agencies, with M&S yet to confirm if customer data was compromised.

WH Smith’s new owner, Modella Capital, is barred from mass store closures for at least a year under the acquisition terms. The agreement prevents Modella from launching a CVA within 12 months, ensuring continuity for WH Smith’s 480 high street stores, rebranded as TG Jones. Modella, which recently initiated CVAs for Hobbycraft and The Original Factory Shop, denied plans for a similar move at WH Smith.

Zalando reported a 7.9% revenue rise to €2.4bn in Q1, with GMV up 6.5% to €3.5bn. Active customers grew to 52.4 million, while its B2B segment saw an 11.6% revenue increase. The retailer’s loyalty programme, Zalando Plus, expanded to 13 markets, contributing to double-digit growth in key categories. The group reaffirmed its 2025 guidance, forecasting 4-9% growth in GMV and revenue.