Revolut: Fintech hits 10m UK customers as aggressive growth strategy pays off Tech Fintech giant Revolut has reached 10m customers in the UK, solidifying its position as one of the country’s largest fintechs. The company, which has recorded rapid growth over the past few years, added nearly 2m customers in 2024 alone. The achievement follows several high-profile developments for Revolut, including its recent secondary share sale, which valued [...]
Retail sales smash expectations despite a drop in consumer confidence Retail Retail sales in the UK blew past expectations in August, climbing to their highest level since July 2022, according to the Office for National Statistics (ONS). Sales were up one per cent compared to the previous month, beating analysts’ predictions of a 0.4 per cent rise. The increase builds on July’s return to growth, which [...]
Portmeirion Pottery sinks deeper into the red as Asian sales falter Retail Portmeirion, the historic maker of ceramic tableware and cookware, has slipped further into the red as declining sales in Asia continue to weigh heavily on the company. The London-listed group, which is headquartered in Stoke-on-Trent, saw its revenue fall to £36.6m in the first six months of 2024, down from £44.1m year on year. As [...]
Sosandar pushes ahead with brick-and-mortar expansion as new flagship store revealed September 19, 2024 UK fashion brand Sosandar has announced its expansion into in-store retail with historic Irish department store Arnotts, in a bid the company hopes will allow it to connect better with its customers. The London-listed company, which is headquartered in Cheshire, said the decision to base its flagship store in the Dublin department store had been [...]
Ocado shares jump after firm hikes sales outlook on M&S joint venture September 19, 2024 Ocado shares jumped more than 10 per cent in early deals this morning after the company hiked its sales guidance. The retail arm of the London-listed group, Ocado Retail, a 50:50 joint venture between Ocado Group and Marks & Spencer Group, reported revenue growth of 15 per cent in the 13 weeks to 1 September [...]
How Brits turning to ‘luxury that lasts’ has helped sale surge at The Cotswold Company September 18, 2024 In just five years, The Cotswold Company has more than doubled its revenue, a milestone that CEO Ralph Tucker believes signals a shift in how British consumers are prioritising their spending. Based in Norwich, the premium furniture brand has long been favoured by fans of quiet luxury, but has seen a surge in new customers [...]
Tupperware: How the food storage giant collapsed into bankruptcy September 18, 2024 The plastic food container giant Tupperware has filed for bankruptcy after struggling with declining sales and intensifying competition for several years. The US-based plastic food container giant, which has its UK headquarters in Milton Keynes, has entered Chapter 11 bankruptcy proceedings following a prolonged drop in demand, a trend that has persisted for more than [...]
Xaar: Printing giant slips further into the red on ‘continued decline’ of legacy ceramics September 18, 2024 Printing technology group Xaar has widened its loss after the company continued to struggle with the “continued decline” of the legacy ceramics market, it said today. The London-listed company, which is headquartered in Cambridge, saw its revenue drop to £28.6m in the six months ending June 30, 2024, down from £34.6m in the same period [...]
Headlam hit with £16m loss as Brits cut home improvement spending September 17, 2024 British flooring specialist Headlam has endured a tough six months, blaming a drop in home improvement spending as the key factor behind a sharp fall in revenue. The London-listed firm saw its revenue slide by just under 12 per cent year-on-year for the six months to June 2024, with UK sales down 11 per cent [...]
OVO Energy to pay out millions in compensation after Ofgem probe September 17, 2024 The UK’s fourth-largest energy supplier, OVO, has agreed to a £2.37m settlement following a regulatory investigation by Ofgem. The energy watchdog uncovered significant delays in addressing customer complaints, with some unresolved for up to 18 months. In addition, OVO failed to action the Energy Ombudsman’s rulings in certain cases. As part of the settlement, the [...]
