Checkout.com hits $40bn valuation as it raises $1bn for US expansion January 12, 2022 Payments giant Checkout.com has closed a mammoth $1bn funding round as it gears up for a major US expansion, the firm announced today. The funding round values the payments processor at $40bn and places it firmly among Europe’s most valuable fintechs. The latest round was backed by investors including Altimeter, Dragoneer, and the Qatar Investment [...]
Trustpilot revenues jump after bookings boost January 12, 2022 Trustpilot has announced a jump in revenue this morning after an uptick in bookings.
Topps Tiles lays foundations for ‘sustainable growth’ as sales up 21 per cent in Christmas rush January 12, 2022 Topps Tiles announced a confident outlook in this morning’s trading update for the 13-week period ended 1 January, with like-for-like sales on a two-year basis up 21 per cent.
Premier Inn owner Whitbread gets serious Omicron beating over Christmas as new investments are postponed January 12, 2022 Premier Inn owner Whitbread has revealed a knock to demand over the festive season from the spread of the Omicron variant and cautioned over rising costs. The group saw total UK sales drop 4.4 per cent year-on-year in the six weeks to January 6, dragged lower by a 17.2 per cent slump in food and [...]
A very merry Christmas: Sainsbury’s upgrades full year profits to £720m thanks to retail boom January 12, 2022 Sainsbury’s has reported a very merry Christmas this morning, upgrading its pre-tax profits for the full year to £720m.
Pret sales lag behind pre-Covid levels as office workers slowly return to desks after Omicron fears January 11, 2022 Workers have been slow to return to the Square Mile this year, Pret’s coffee and sandwich sales reveal. Transaction volumes in Canada and Canary Wharf districts were more than one third down on pre-pandemic levels last week. Bloomberg’s Pret Index laid bare the impact of Covid guidance introduced at the end of [...]
Exclusive: ‘Omicron is a reminder the world is only as good as the weakest link in the vaccination chain,’ says abrdn exec January 11, 2022 Ongoing inflationary shocks, questions around interest rates and the emergence of the new Omicron Covid variant are all making navigating uncertainty more challenging. Nonetheless, when we look beyond the headlines, there remain some reasons for optimism going into 2022, according to Richard Dunbar, head of multi-asset research at global investment giant abrdn. Square Mile-based Dunbar [...]
Lingerie tycoon Baroness Mone sued for unlimited damages after reports of racist remarks January 11, 2022 Millionaire lingerie tycoon Baroness Michelle Mone is being sued for unlimited damages after allegations of racist remarks. Financial consultant Richard Lynton-Jones has filed a writ against the retail tycoon in London’s High Court, claiming Mone sent him racist WhatsApp messages. Lynton-Jones, who has Indian heritage, claimed that Mone sent him a message calling him “a [...]
Not so little: Christmas jumpers power Lidl sales with one sold every two seconds January 11, 2022 A surge in demand for Christmas jumpers helped discount supermarket giant Lidl to post a 2.6% rise in sales over the festive season. The firm said its Christmas jumpers were the fastest-selling item in its so-called Middle of Lidl aisle, with around one sold every two seconds on its first day of sale. The group [...]
Shoppers spend £14bn on Christmas categories as supermarket sales growth exceeds forecasts January 11, 2022 Shoppers dashed to supermarkets to make last-minute Christmas purchases as weekly sales growth peaked in the week ending 25 December. Brits splashed out £14bn on Christmas products over the three month festive period, according to data from NielsenIQ. Sales growth for the period surpassed initial forecasts from NielsenIQ analysts, who predicted sales would grow to [...]
