Invoice factoring is a form of business finance that lets a company sell its unpaid invoices to a specialist provider in exchange for an immediate cash advance, rather than waiting the usual 30, 60 or 90 days for customers to pay.

For UK businesses trading on credit terms, it has become one of the more widely used ways to release working capital that would otherwise sit locked in the sales ledger.

This guide explains what invoice factoring is, how the process works step by step, what it typically costs in 2026, how it differs from invoice discounting, and which businesses tend to benefit most from it.

Key takeaways

• Invoice factoring converts unpaid B2B invoices into an upfront cash advance, usually worth 80–90% of the invoice value.
• The factoring provider takes over credit control and collects payment directly from your customers, which means the arrangement is visible to them.
• Once the customer pays, the provider releases the remaining balance minus its fees.
• Costs are made up of a service fee (a percentage of turnover) and a discount charge (interest on the funds advanced).
• Eligibility is based largely on the creditworthiness of your customers, so it is often accessible to newer businesses that cannot yet secure a conventional loan.

What is invoice factoring?

Invoice factoring is a funding arrangement in which a business sells some or all of its outstanding invoices to a third party, known as a factor, and receives most of the invoice value in cash straight away. It is not a loan. Rather than borrowing against an asset, the business is effectively bringing forward money it is already owed.

Because the factor also takes over collecting the debt, factoring bundles two things together: fast access to cash and an outsourced credit control function. That second element is what distinguishes it most clearly from other forms of invoice finance, and it is the reason factoring appeals to businesses that would rather not spend time chasing late payers.

How does invoice factoring work?

Invoice factoring follows a consistent sequence, from the moment an invoice is raised to the point the balance is settled. In practice, most facilities work like this:

1. You invoice your customer as usual. The business delivers goods or services and issues an invoice on its standard payment terms.
2. You submit the invoice to the factor. The provider verifies the invoice and checks the creditworthiness of the customer who owes the money.
3. The factor advances the bulk of the value. Typically 80–90% of the invoice is paid to the business within a day or two, sometimes on the same day once the facility is established.
4. The factor collects payment. The provider manages credit control and chases the invoice to term, dealing with the customer directly.
5. The balance is released, minus fees. When the customer pays in full, the factor forwards the remaining 10–20% to the business, less its service fee and discount charge.

A worked example

Suppose a business raises an invoice for £10,000 on 60-day terms and factors it at an 85% advance rate.

• The factor advances £8,500 within a couple of working days.
• The customer later pays the full £10,000 to the factor.
• The factor deducts its fees – say £250 in total – and releases the remaining £1,250.
• The business receives £9,750 of the original £10,000, but gets the majority of it weeks earlier than it otherwise would.

The trade-off is straightforward: the business gives up a portion of the invoice value in return for faster, more predictable cash flow.

Invoice factoring vs invoice discounting

Invoice factoring and invoice discounting both release cash tied up in unpaid invoices. The difference comes down to who chases the money and whether the arrangement is visible to your customers:

• Who collects the debt: with factoring, the provider takes over collections and chases payment to term; with discounting, the business continues to collect from its customers itself.
• Customer visibility: factoring is disclosed, so customers pay the provider directly and know a third party is involved; discounting is usually confidential, so customers need never know a facility is in place.
• Credit control: factoring outsources credit control to the provider; discounting keeps it in-house.
• Best suited to: factoring tends to suit smaller businesses or those without a dedicated credit control team; discounting is more common among larger firms that want to protect the customer relationship and are comfortable managing collections themselves.

In short, factoring hands both the funding and the collections to a specialist, while invoice discounting funds the invoices but leaves the business in control of its own ledger.

Types of invoice factoring

Factoring is not a single product. UK providers offer several variations, and the right one depends on how much risk a business wants to carry and how many invoices it wants to fund.

• Recourse factoring. The most common arrangement. If a customer ultimately fails to pay, the business is liable and must repay the advance. Because the provider carries less risk, recourse factoring is generally cheaper.
• Non-recourse factoring. The provider absorbs the loss if a customer becomes insolvent, subject to the terms agreed. This offers greater protection against bad debt but typically costs more, and providers usually restrict it to invoices raised against creditworthy customers.
• Selective (spot) factoring. The business chooses which individual invoices to factor rather than committing its entire ledger. This suits companies that only occasionally need to bridge a cash flow gap, or that want to factor a single large invoice.
• Whole-turnover factoring. The business factors all of its eligible invoices on an ongoing basis. This provides consistent funding and continuous credit control, and is often priced more competitively than selective facilities because of the volume involved.

How much does invoice factoring cost in the UK?

Invoice factoring costs are usually built from two main charges, plus occasional extras. Understanding both components makes it easier to compare providers on a like-for-like basis.

• The service fee. This covers credit control, collections and administration, and is charged as a percentage of gross turnover – often somewhere between 0.5% and 3%, depending on turnover, invoice volume and sector.
• The discount charge. This is effectively the interest on the money advanced, applied only while the funds are outstanding. In 2026 it is typically calculated as a margin over the Bank of England base rate, so the prevailing rate environment affects the total cost.
• Additional fees. Some agreements carry set-up costs, minimum monthly fees, invoice processing charges or termination fees. These vary widely, so it is worth reading the terms closely before committing.

Because pricing depends heavily on turnover, customer profile and the type of facility, published headline rates are only ever a starting point. Two businesses of similar size can be quoted quite differently based on the perceived risk of their customer base.

Advantages of invoice factoring

• Faster access to working capital. Cash is released in days rather than waiting out lengthy payment terms.
• Outsourced credit control. The provider chases payment, freeing up internal time and resource.
• Funding that scales with sales. As turnover and invoice volume grow, the available funding grows with it – unlike a fixed loan.
• Accessible to newer businesses. Because eligibility rests largely on customer creditworthiness, factoring is often available to firms that would struggle to secure a traditional loan.
• Protection against bad debt. Under a non-recourse arrangement, the provider can absorb losses if a customer becomes insolvent.

Disadvantages of invoice factoring

• It reduces the amount received per invoice. Fees and the discount charge eat into margins, so factoring is more expensive than simply waiting for payment.
• Customers are aware of the arrangement. Because the provider collects directly, factoring is visible in a way that invoice discounting is not.
• Loss of control over collections. How the provider communicates with your customers is largely out of your hands.
• Contractual commitments. Whole-turnover facilities can require you to factor all eligible invoices, and some agreements carry minimum terms or exit fees.
• Not every invoice qualifies. Providers may decline to fund invoices to customers with weak credit, or in sectors they consider higher risk.

Who is invoice factoring suitable for?

Invoice factoring works best for businesses that sell to other businesses on credit terms and that experience a gap between delivering work and getting paid. It is particularly common in sectors where long payment cycles and payroll pressures collide, including:

• Recruitment and staffing, where contractors must be paid before agency invoices are settled.
• Manufacturing and wholesale, where suppliers often wait weeks for large orders to clear.
• Construction and logistics, where contract values are high and payment terms are long.

It tends to suit smaller and growing businesses that would rather hand credit control to a specialist than build the function in-house. Companies that already run a strong internal finance team, or that place a high value on keeping funding arrangements confidential, may find invoice discounting a better fit.

How to choose an invoice factoring provider

Choosing a provider is about more than the headline rate. When comparing options, it is worth weighing several factors together:

• Recourse terms. Understand exactly who carries the risk if a customer does not pay, and what the buy-back period is.
• Disclosed or confidential. Confirm whether the facility is visible to your customers, and whether that matters for your relationships.
• Fee transparency. Ask for the total cost of the facility – service fee, discount charge and any extras – rather than a single rate.
• Contract length and flexibility. Check the minimum term, notice period and any termination fees.
• Regulation and reputation. In the UK, reputable providers are typically authorised and regulated by the Financial Conduct Authority. Independent reviews and sector experience are useful additional signals.

Comparing several providers, rather than accepting the first quote, is the surest way to find terms that genuinely fit the business.

Frequently asked questions

Is invoice factoring a loan?

No. Invoice factoring is not borrowing. Instead of taking on debt, the business sells its unpaid invoices and receives an advance against money it is already owed. Because it is not a loan, it does not typically add debt to the balance sheet in the same way.

How quickly can you get funds through invoice factoring?

Once a facility is set up, funds are usually advanced within 24–48 hours of an invoice being verified, and some providers offer same-day funding. The initial set-up, which involves credit checks on your customers, can take anywhere from a few days to a couple of weeks.

Will my customers know I am using invoice factoring?

Yes. With standard invoice factoring the provider collects payment directly, so customers pay the factor rather than the business and are aware of the arrangement. Businesses that want to keep the facility private usually opt for confidential invoice discounting instead.

Can a new business use invoice factoring?

Often, yes. Because eligibility depends largely on the creditworthiness of your customers rather than your own trading history, factoring can be more accessible than a conventional loan for newer businesses. Some providers still apply a minimum trading period, so it is worth checking the criteria.

Is invoice factoring regulated in the UK?

Invoice factoring itself is not regulated in the same way as consumer lending, but the majority of established UK providers are authorised and regulated by the Financial Conduct Authority for related activities. Checking a provider’s regulatory status and industry membership is a sensible first step.

What is the difference between recourse and non-recourse factoring?

Under recourse factoring, the business remains liable if a customer fails to pay and must repay the advance. Under non-recourse factoring, the provider absorbs the loss if a customer becomes insolvent, subject to the agreed terms. Non-recourse offers more protection but usually costs more.

Summary

Invoice factoring gives UK businesses a way to turn unpaid invoices into working capital quickly, while handing credit control to a specialist provider. It suits B2B companies dealing with long payment terms – particularly in recruitment, manufacturing, construction and logistics – and it is often available to newer businesses that cannot yet access traditional lending. The main trade-offs are cost and visibility: factoring reduces the net value of each invoice, and customers are aware of the arrangement. Whether it is the right choice depends on a business’s cash flow needs, its appetite for cost, and how much it values keeping collections in-house.

This article is intended as general information about invoice factoring and does not constitute financial advice. Costs, eligibility and terms vary between providers and according to individual circumstances. Businesses should compare providers and seek advice from a qualified professional before entering into any finance agreement.

 

China’s robotics industry crossed a threshold this year that manufacturing economies across Southeast Asia are still absorbing. In April, Chinese firms exported more than 25,000 industrial robots in a single month, up nearly 90 percent from a year earlier, while full-year 2025 export volume had already surged close to 49 percent. China is no longer simply the world’s largest buyer of robots. It has become a net exporter, shipping standardized, cost-competitive automation hardware to 148 countries and regions in the first quarter of this year alone. For Thai manufacturers, the more consequential story is not the export statistic itself but where a meaningful share of that supply chain is now being built.

From exporter to embedded partner

Rather than simply shipping finished machines into Thailand, several of China’s leading robotics firms are localizing production here. The government has approved a 10 billion baht robotics investment inside the Eastern Economic Corridor, led by five Chinese technology companies, which will build a humanoid-robot components cluster in Chachoengsao province and generate more than a thousand high-skilled jobs.

This sits alongside the SMC-Siasun Innovation Center at EECi in Rayong, where Thailand’s National Science and Technology Development Agency is co-developing robotics and automation systems directly with Chinese partners rather than simply importing their hardware. Somboon Advance Technology, one of Thailand’s largest automotive parts suppliers, has already built what it describes as Southeast Asia’s first fully operational 5G smart factory in partnership with Siasun Robot & Automation and Huawei, using 3D vision robots and automated guided vehicles to lift productivity on its production floor. This kind of on-the-ground technology transfer is part of a broader pattern of Chinese innovation reshaping Thailand’s economy, extending well beyond finished-goods trade.

Why the price gap matters

China’s export data reveals something useful for procurement planning. The average unit export price for a Chinese industrial robot is roughly a third of the average unit import price into China, implying that Chinese suppliers are first winning on standardized, high-volume, cost-performance categories such as mobile robots and warehouse automation, rather than the most complex six-axis systems used in precision automotive welding or final assembly. For Thai factory operators, this suggests the clearest near-term opportunity lies in logistics and material-handling automation, where deployment cycles are shorter and payback periods more predictable, while the highest-end automotive and precision-assembly applications remain more contested ground between Chinese, Japanese, and European suppliers.

Where this fits in Thailand’s investment landscape

Robotics and automation sit among the priority sectors the Thai government continues to court through Board of Investment incentives, alongside electric vehicles, intelligent electronics, and digital infrastructure, all part of a wider push to position the kingdom among the top business opportunities in Thailand for 2026. The Eastern Economic Corridor’s role as the delivery mechanism for this strategy is not new. When the EEC’s five-year development plan was approved, automation and robotics were already named among the corridor’s targeted industries, well before the current wave of Chinese humanoid and mobile-robot investment arrived. What has changed is the speed and specificity: Chinese firms are no longer treating Thailand as a market to sell into, but as a base to manufacture from.

What Thai suppliers and integrators should watch

Three practical questions follow for businesses positioned around this shift. First, domestic content and technology-transfer requirements attached to EEC incentives will shape how much of the value from this cluster stays onshore versus flowing back to component suppliers in China, making the fine print of BOI conditions worth close attention for any Thai firm hoping to enter the supplier network. Second, the widening gap between China’s cheap, standardized exports and its higher-value imports suggests the real competitive opening for Thai system integrators is in application-layer work, deployment, calibration, and after-sales service, rather than trying to compete on hardware cost. Third, as Chinese humanoid and mobile robot makers shift from simple product exports toward full system exports, complete with local R&D and service networks, Thai firms partnering early are more likely to become embedded in that ecosystem than those waiting for the technology to mature elsewhere first.

None of this guarantees a smooth outcome. China’s own robotics executives describe the current phase of overseas expansion as closer to the start of a marathon than a finished breakout, with brand trust, after-sales service networks, and compliance with local rules still the deciding factors in whether early deployments turn into durable market positions. For Thailand, the question is no longer whether China’s robotics industry is going global. It already has. The question is how much of that global build-out Thailand can capture as a manufacturing base rather than simply a customer.

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Kellum Dietz has built a career around one simple idea: great art begins with understanding people. Based in York, Pennsylvania, he is best known as a caricature artist at Hershey Park and other major amusement parks, where he has spent years creating memorable experiences for guests through illustration and conversation.

Originally from Baltimore, Maryland, Dietz discovered his love of drawing as a child. That passion led him to study commercial art at the Joe Kubert School of Art in New Jersey. His favourite subject was storyboarding for film and animation, where he learned how visual storytelling can capture personality, emotion and movement.

Rather than following a traditional studio career, Dietz chose a path that combines creativity with direct customer interaction. Alongside his work as a caricature artist, he has gained more than 15 years of experience in customer service through roles including bartending, gym management, wedding DJ work, videography and live event entertainment. Each position strengthened his ability to communicate, adapt and build genuine connections with people.

Dietz also believes creative work should have a positive impact beyond business. He has supported food drives, cancer research, the Red Cross and Make-A-Wish events, using his artistic talents to bring smiles to children and families. His experience as a background extra in the 2025 Superman film reflects his continued interest in visual storytelling and entertainment.

Today, Kellum Dietz continues to demonstrate that long-term success comes from combining technical skill with authenticity, adaptability and a genuine commitment to helping others.

Q&A with Kellum Dietz: Building a Career Through Art and Human Connection

Q: What first inspired you to become an artist?

I grew up in Baltimore, Maryland, and I’ve been drawing for as long as I can remember. As a kid, I was always filling notebooks with cartoons and sketches. Drawing never felt like homework. It was simply something I enjoyed doing every day. Looking back, I realise those early years built the foundation for everything I’ve done since.

Q: How did your education shape your career?

I attended the Joe Kubert School of Art in New Jersey and studied commercial art. One class really stood out for me, and that was storyboarding for film and animation. I enjoyed learning how a sequence of drawings could tell a complete story. Even today, I think about storytelling whenever I’m creating a caricature because every drawing captures a person’s personality in a unique way.

Q: How did you find your way into caricature art?

I wanted a career where I could combine drawing with meeting people. Working as a caricature artist gave me exactly that. Every day is different because every person who sits in front of me has their own expressions, personality and sense of humour. My job isn’t simply to draw someone’s face. It’s to create an experience they’ll remember.

Q: You’ve worked in several different industries. How have those experiences helped you?

I’ve spent more than 15 years working with people. I’ve been a waiter, bartender, gym manager, wedding DJ, videographer and character performer at children’s parties and special events. At first glance, those jobs seem unrelated, but they all taught me how to communicate, solve problems and make people feel comfortable. Those lessons have become just as valuable as my artistic training.

Q: What makes customer service so important in your work?

People often remember how you made them feel more than what you created. When someone sits down for a caricature, they’re trusting you to make the experience enjoyable. I always try to make people laugh, relax and leave with a positive memory. The drawing is important, but the interaction matters just as much.

Q: Has your career taken you in any unexpected directions?

Definitely. One fun experience was working as a background extra in the 2025 Superman film. It was fascinating to see how much planning and teamwork goes into a major production. It reminded me that every successful project depends on many people doing their part, whether they’re on screen or behind the scenes.

Q: What role does creativity play in today’s world?

I think creativity helps people connect. We’re surrounded by technology, but people still value something that’s made by hand. Watching someone create a drawing in front of them feels personal. That connection is something I don’t think will ever go out of style.

Q: Community work has also been important to you. Why?

I’ve always believed that if you have the opportunity to help, you should. I’ve supported food drives, cancer research, the Red Cross and worked as a character actor for Make-A-Wish events. Those experiences remind me that small actions can make a real difference to someone’s day.

Q: What habits have helped you build a lasting career?

Consistency is probably the biggest one. I still draw regularly because practice never stops. I also try to stay curious. Every conversation teaches you something if you’re willing to listen. Working with thousands of people over the years has shown me that everyone has an interesting story.

Q: What advice would you give someone starting out in a creative career?

Keep practising, but don’t focus only on your technical skills. Learn how to communicate with people. Be reliable. Be willing to take opportunities that don’t seem directly connected to your long-term goal. Many of the skills I use every day came from jobs outside the art world.

Q: What continues to motivate you today?

I still enjoy meeting new people. Every day brings different faces, different conversations and different stories. That’s what keeps the work interesting. If I can create something that makes someone smile and gives them a memory they’ll keep for years, then I’ve done my job well.

Some T-Mobile customers searching online Thursday for answers about spotty service are asking a familiar question: is T-Mobile down right now? Based on current outage-tracking data, the answer appears to be no, at least not on a widespread scale, though a normal background level of scattered user complaints continues to show up across monitoring services.

According to outage-tracking site StatusGator, T-Mobile is currently listed as operational, with 255 user-submitted reports of problems logged over the past 24 hours, a volume the service does not currently flag as indicating a broad outage. A separate tracking site, Outage.Report, similarly reported that T-Mobile appears to be working normally, with report volume falling within the typical range expected for this time of day, and noted that the last recorded T-Mobile incident occurred roughly six days earlier.

What the Data Shows

Outage-tracking services like StatusGator, Outage.Report and Downdetector work by aggregating user-submitted reports and comparing current complaint volume against each carrier’s typical baseline for a given time of day and region. When reports spike well above that baseline, these services flag a potential outage; when volume stays within the expected range, as appears to be the case for T-Mobile as of Thursday, the service is generally listed as operating normally.

That said, individual users can still experience localized service disruptions even when no broad, carrier-wide outage is detected. Recent user reports collected by outage-tracking sites have included complaints ranging from slow or unusable Wi-Fi speeds in specific ZIP codes to intermittent loss of data signal in individual cities, issues that often reflect localized network congestion, tower maintenance or device-specific problems rather than a nationwide service failure.

If You’re Experiencing Problems

For T-Mobile customers currently dealing with connectivity issues despite the absence of a confirmed widespread outage, outage-tracking services generally recommend a standard troubleshooting sequence. Restarting the T-Mobile app, followed by restarting the device itself and then the home router if applicable, resolves many localized connectivity issues without requiring further escalation. If problems persist after those steps, checking whether other users in the same specific area are reporting similar issues, through outage-tracking websites or T-Mobile’s own service status tools, can help determine whether the problem is isolated to an individual account, device or location.

Users experiencing ongoing issues are also encouraged to submit their own reports through outage-tracking platforms, since anonymous, crowdsourced reporting is the primary mechanism these services use to detect emerging problems, often before a company issues any official acknowledgment.

A Carrier With a History of Periodic Disruptions

While Thursday does not appear to represent a significant outage day for T-Mobile, the carrier, like its major competitors, has experienced periodic service disruptions in the past that have drawn national attention. In one previous incident, complaints to Downdetector jumped sharply within the span of an hour, climbing from roughly 82 reports to more than 700, with users in cities including Chicago, Los Angeles, Detroit, Seattle, Houston, Atlanta, Indianapolis, Charlotte and Minneapolis reporting problems. In that case, roughly half of the complaints centered on T-Mobile’s 5G Home Internet service, while a similar share involved difficulty connecting to a mobile signal on phones, and a smaller portion described vague “no signal” issues without further detail.

A separate previous outage saw complaint volume surpass 1,300 reports within a relatively short window, with the Los Angeles and Dallas areas emerging as the primary hot spots for user complaints. In that instance, Mint Mobile, a low-cost carrier that operates on T-Mobile’s network infrastructure, also experienced simultaneous service disruptions, illustrating how outages affecting T-Mobile’s core network can cascade to the various smaller carriers that lease access to its towers.

How to Verify Service Status Yourself

Customers looking to check T-Mobile’s current service status have several options beyond general web searches. Third-party outage-tracking sites like Downdetector, StatusGator and Outage.Report continuously monitor user-submitted reports and display real-time status information, often including interactive maps showing which specific regions are experiencing elevated complaint volume. T-Mobile also maintains its own official channels, including customer service accounts on social media platforms, where the company has previously responded directly to individual customers experiencing service problems, typically requesting that affected users send details through direct message so a representative can review the specific issue affecting their account or location.

Distinguishing a Local Problem From a Broader Outage

For any customer unsure whether a connectivity problem reflects a personal device or account issue versus a broader network disruption, checking whether reports are clustering heavily in a specific city or region, as opposed to appearing scattered and isolated, can offer a useful signal. A genuine widespread outage typically produces a sharp, sudden spike in reports concentrated in particular geographic hot spots, as seen in past T-Mobile disruptions, rather than the steady, low-level trickle of complaints that outage-tracking services describe as normal background activity on any given day.

What to Watch For

As of Thursday, available outage-tracking data does not indicate a significant, ongoing T-Mobile service disruption. Customers experiencing problems are more likely dealing with a localized issue tied to their specific device, account, home router or regional tower coverage rather than a broader nationwide outage. Should report volumes begin climbing sharply on tracking platforms like Downdetector or StatusGator later in the day, that would represent the clearest early signal of a genuine, more widespread disruption developing, at which point official updates from T-Mobile’s customer service channels would likely follow as the company works to identify and resolve the underlying cause.

Kentucky-based Louisville Ladder is recalling roughly 1.77 million attic stairway ladders after receiving reports that bolts can break while the products are being used, creating a potentially deadly fall hazard.

The recall involves certain Louisville, Featherlite, Lite and Century attic stairway ladders equipped with gas struts, according to a notice issued Thursday by the U.S. Consumer Product Safety Commission (CPSC).

“The bolts on the attic stairway ladders can break while in use, posing a risk of serious injury or death from fall hazard,” the CPSC said.

RECALL ISSUED FOR DOG AND HORSE MEDICATION AFTER FIBERGLASS FOUND IN VIALS

The company has received 11 reports of bolts breaking. One incident resulted in injuries to a consumer’s neck, head and back, according to the agency.

The affected aluminum- and wood-frame ladders include handrails and fold into attic openings. They were sold in several frame sizes, including widths of 22.5, 25.5 and 30 inches and lengths of 54 and 60 inches.

The ladders were designed for ceiling heights ranging from 7 feet, 8 inches to 12 feet, the CPSC noted.

POPULAR WALMART NUT BUTTER RECALLED AFTER TESTING DETECTS SALMONELLA

Consumers can find the brand name and model number on the inside of the attic door.

The ladders were sold at Home Depot, Lowe’s, Do It Best, Orgill and other retailers nationwide, as well as on Amazon, from November 2012 through July 2026, according to the notice.

Prices ranged from approximately $170 to $600.

An additional 13,054 ladders were sold in Canada.

TARGET, KROGER, MEIJER FRUIT PURÉE POUCHES RECALLED OVER PLASTIC RISK: FDA

Consumers are being urged to stop using the recalled ladders immediately and register for a free repair kit. 

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For more information about the recalled products, visit the CPSC’s website.

Louisville Ladder could not immediately be reached by FOX Business for comment.

Savers Value Village is launching a new platform leveraging artificial intelligence to help optimize product pricing, the company told CNBC exclusively, as the tricky-to-price thrift segment gains traction around the world.

The new platform, called ThriftIQ, uses AI to reduce the work needed to price items across the men’s and women’s apparel assortment and bring more consistency.

“We’re getting clear sell-throughs, larger baskets, it’s helping our new stores ramp more favorably, and obviously there is the profitability improvements,” CEO Mark Walsh told CNBC.

The tool has already been deployed in 58 pilot stores, according to the company, pricing more than 25 million items. That number is expected to double by the end of the year, Walsh added.

Savers, which had 375 stores at the end of the second quarter, said it processes more than 1 billion pounds of reusable goods every year. ThriftIQ was developed in partnership with data science and technology consulting firm Kaizen Analytix using Savers’ proprietary data sets, which the company has been developing for nearly two years.

“It’s not dynamic pricing, and once those garments are priced and tagged, that tag doesn’t change,” Walsh said.

The company’s goal with the new AI tool is to bring more predictable pricing for customers while also keeping average prices the same or lower, remaining between roughly 40% and 70% below traditional retail prices.

Savers said ThriftIQ marks the latest step in the company’s broader strategy to modernize and enhance its business operations. It will deploy the platform across more of its U.S. and Canadian locations through early 2028.

Walsh said the tool is not meant to get rid of manual labor in stores, but rather make workers more productive.

“Savers is transforming thrift through innovation, and I couldn’t be more excited about the trajectory of the business,” he said.

The tool comes at a time when secondhand retail and thrift are seeing a surge, especially with the macroeconomic backdrop of higher inflation, lower consumer confidence and more price-conscious buyers.

“We are benefiting from some very powerful secular momentum in this space. Thrift has gone, and is continuing to go, mainstream in retail, and so we see that in the younger customers, in the more affluent customers, for example, that are adopting thrift,” Chief Financial Officer Michael Maher told CNBC. “But I think in addition to that, we are bringing investment, technology, innovation and execution to that.”

Savers also reported its second-quarter earnings on Thursday, seeing a 7.4% increase in total net sales, which came in at $448.2 million. Comparable store sales increased 4.4%.

Savers reported net income of $21.6 million, or 14 cents per share, for the quarter, versus $18.9 million, or 12 cents per share, in the prior-year period.

Maher also said the company saw its third consecutive quarter of year-over-year growth in earnings before interest, taxes, depreciation and amortization.

The company incorporated the impact of ThriftIQ into its updated 2026 guidance, saying that it expects to return to a “high-teens adjusted EBITDA margin within the next three years.”

“This is just the latest chapter of transformative innovation,” Maher told CNBC. “It is a core plank of our long-term strategic plan, and yes, we’re constantly looking at innovation.”

Versant Media Group raised its full-year guidance on Thursday, boosted by momentum in its digital brands like Fandango and GolfNow, as well as what executives referred to as “strength” in its overall business model.

The company now expects total revenue for 2026 of $6.2 billion to $6.45 billion and adjusted earnings before interest, taxes, depreciation and amortization of $1.9 billion to $2.05 billion.

This marks Versant’s third earnings report since it was spun out from Comcast’s NBCUniversal at the start of the year. The company, which includes a portfolio of pay TV networks including CNBC, MS NOW and The Golf Channel began trading as a public company in January.

Versant’s earnings once again showcased that live sports and news grab the most viewers and advertising dollars for traditional TV, despite ongoing pressure on the bundle as it loses customers to streaming alternatives.

The company beat Wall Street expectations on the top and bottom lines. Versant shares were up more than 6% at the close of trading on Thursday.

Here’s how Versant performed for its second quarter, ended June 30, compared with Wall Street’s estimates, according to LSEG:

• Earnings per share: $1.49 vs. $1.35 expected
• Revenue: $1.64 billion vs. $1.62 billion expected

Revenue for linear TV, which also includes channels USA Network, Syfy, Oxygen and E!, was down 6.3% during the quarter to $954 million, due to subscriber declines.

CEO Mark Lazarus said in a release on Thursday the company completed carriage agreements “with two large distribution partners, one in the U.S. and one in Canada.” Many of Versant’s distribution deals were locked up when it was still under NBCUniversal’s ownership.

Versant executives have said they aim to diversify the company’s revenue base — with an eye toward achieving a revenue mix of 50% from its digital, platform, subscription, ad supported and transactional businesses. The aim is to be less reliant on the linear TV model. Currently more than 80% of Versant’s revenue stems from the pay TV business.

Versant leadership has also said it would explore acquisitions of nontraditional media businesses to broaden its revenue streams and add growth.

This week the company closed its acquisition of golf simulation company Full Swing. Versant already owns digital media platform GolfPass and tee-time reservation company GolfNow. Earlier this year Versant bought StockStory, an artificial intelligence-powered tech platform that provides financial analysis, market insights and stock recommendations for CNBC.

Advertising revenue for the quarter was down 0.6% to $423 million, an improvement compared with the rate of decline during the same period last year due to higher ratings for its networks, which are heavily centered on news and sports.

Revenue for the platforms segment — which includes Fandango and GolfNow — was up 0.8% to $225 million for the quarter. Excluding the company’s divestiture of SportsEngine, platforms revenue was up 9.3%.

The company attributed that increase in part to higher revenue at Fandango from movie ticket purchases and video-on-demand transactions as well as stronger bookings, payments and subscription revenue for GolfNow.

Versant has launched a free, ad-supported Fandango streaming service in a bid to increase its advertising and users for the platform. Versant’s USA Sports also recently announced a media rights deal with German soccer league Bundesliga, which brings live matches to USA Network and Fandango beginning in August.

Overall, Versant revenue declined 3.8% year over year to $1.64 billion.

Net income attributable to Versant declined 30% to $211 million, or $1.49 per share, from $302 million, or $2.09 per share a year earlier. The company attributed that drop to lower revenue, public company costs, interest expense related to the Comcast separation, and an increased tax expense largely due to the divestiture of SportsEngine.

Adjusted EBITDA decreased 8.9% to $624 million. However, when compared with stand-alone adjusted EBITDA, a metric to more directly compare performance of the pre-spin portfolio companies to current results, adjusted EBITDA was up 3% year over year. Versant said the increase reflected lower programming expenses and reduced costs that offset revenue declines.

The company also declared a quarterly cash dividend for the third quarter in a row, again at 37.5 cents a share. The latest dividend is payable on Oct. 22 to shareholders of record as of the close of business on Oct. 1.

Versant said it completed a previously announced $100 million accelerated share repurchase agreement. The company repurchased nearly 2.4 million shares of Class A common stock with a remaining authorization of roughly $800 million as of June 30.

The company said it plans to enter into a similar stock repurchase agreement on Aug. 7 to repurchase $100 million of Class A stock, which it anticipates will close during the third quarter.

Disclosure: Versant Media Group is the parent company of CNBC.

The Dow and S&P 500 indexes closed lower on Thursday, pausing after a strong start to the week, as investors digested the latest round of corporate earnings and looked for signs of progress toward a peace deal between the U.S. and Iran.

A robust earnings season, which has tempered some concerns about the massive spending by AI-related companies, and growing optimism over ‌the potential end ⁠of hostilities ⁠in the Iran war helped propel both the Dow Industrials and S&P 500 to record highs earlier this week. Oil prices rose, with U.S. crude settling up 2.75% at $77.29 ​a barrel and Brent settling at $82.49 per barrel, up 3.83%. Iran’s semi-official Fars news agency reported that an Iranian parliamentary committee is reviewing a ​preliminary bill that would bar U.S., Israeli and other “hostile” vessels from transiting the Strait of Hormuz.

“You’re seeing perhaps more muted response to macro news than you would otherwise see, probably due to the fact of the summer and a little bit of fatigue, there’s a ​little bit of headline fatigue, specifically around Iran,” said Robert Bernstone, head of trading at ⁠SummitTX Capital in ‌New York.

“Iran is having less of an impact right now, to be clear, I’m not saying it ​has no impact … ​tweets are something, headlines are something, but we really want to see the devil is in the ⁠details.”

According to preliminary data, the S&P 500 lost 13.56 points, or 0.18%, to end ​at 7,709.99 points, while the Nasdaq Composite lost 10.99 points, or 0.04%, to 26,352.45. The Dow ​Jones Industrial Average fell 453.64 points, or 0.83%, to 53,895.48.

The recent indications of movement toward a peace deal helped push crude prices lower earlier in the week and, in turn, eased inflation worries and expectations for a rate hike from the Federal Reserve, which also served to push U.S. Treasury yields lower.
WESTERN DIGITAL, SANDISK DROP Data storage company Western Digital tumbled and memory chip maker Sandisk dropped in the wake of quarterly results. Both companies have surged this year, however, with Sandisk up more than 400% and Western Digital up about ‌160%. AppLovin plunged after the marketing platform missed Wall Street estimates for quarterly revenue, while Datadog plummeted after the cloud security firm said it expects revenue growth to slow in the third quarter. Both stocks were among the biggest ​drags on the ​benchmark S&P index.

Of the 382 companies ⁠in the S&P 500 that have reported earnings through Wednesday morning, 84.8% have topped analyst expectations, according to LSEG data, well above the 68% average beat rate since 1994.

SPACEX LOCKUP PERIOD ENDS

SpaceX shares erased losses from earlier in the session and closed higher, defying expectations that they would be pressured by insider selling, as the lockup period for early investors holding the stock expired. On the data front, the number of Americans filing claims for unemployment benefits increased slightly last week. The report came ahead of closely watched nonfarm payrolls figures for July due on Friday, which will shape expectations for the Fed’s path of interest rates at a time when Chairman Kevin Warsh has scaled back on forward guidance from the central bank.