Today’s news in brief-7/5/25
Asda has appointed Rachel Eyre as its new chief customer officer, replacing David Hills. Eyre joins from Morrisons, where she served as chief customer and marketing officer, overseeing brand strategy, digital, and PR. With prior experience at Sainsbury’s and Barclays, she aims to reinforce Asda’s position as the UK’s lowest-priced full-service supermarket. Executive chairman Allan Leighton praised her leadership and customer-centric approach, highlighting her role in driving value through initiatives like Rollback and Asda Price.
Skechers has agreed to a $9.42bn acquisition by investment firm 3G Capital, with shareholders offered $63 per share—a 30% premium. The deal, approved by Skechers’ board, will see CEO Robert Greenberg continue leading the company alongside 3G Capital. Greenberg emphasised the partnership’s potential to fuel long-term growth, while 3G Capital’s Alex Behring and Daniel Schwartz lauded Skechers’ innovation and market strength.
The Original Factory Shop (TOFS) has named Tim Bettley as its new managing director, following Ian Williams’ departure after the Modella Capital acquisition. Bettley, previously TOFS’ commercial director and a veteran of Poundland and Morrisons, aims to revitalise the brand amid restructuring efforts, including a proposed CVA to renegotiate rents for 88 stores.
Card Factory reported a 6.2% revenue rise to £542.5m in FY25, with adjusted profit before tax up 6.3% to £66m. Store expansions and category growth, particularly in confectionery and stationery, drove performance. CEO Darcy Willson-Rymer highlighted progress in international markets, including the US, and reaffirmed mid-to-high single-digit profit growth expectations for FY26.
Hugo Boss maintained its annual guidance despite a 2% Q1 sales decline to €999m, citing macroeconomic pressures. Weak demand in China contributed to an 8% drop in Asia-Pacific sales, while EBIT fell 11.6% to €61m. CEO Daniel Grieder expressed confidence in the brand’s resilience, citing strategic campaigns and cost efficiencies.
The Range is expanding its new-format superstores, converting acquired Homebase sites into hybrid outlets featuring ‘Garden Centres by Homebase.’ Four new locations will open in May, with plans for up to 70 conversions in 2025, safeguarding 1,600 jobs. CEO Alex Simpkin emphasised blending Homebase’s heritage with The Range’s value proposition, alongside relaunching Homebase’s online store.