In 2021, food spending by U.S. consumers, businesses, and government entities totaled $2.12 trillion, recovering from a sharp decline in 2020 in which the food market was disrupted by the Coronavirus (COVID-19) pandemic and the recession in which food spending totaled $1.81 trillion. Food-at-home spending increased from $888.2 billion in 2020 to $955.6 billion in …
Continue reading “2021 U.S. food-away-from-home spending 10 percent higher than pre-pandemic levels”
If you received a frozen Lou Malnati’s deep dish pizza or Junior’s cheesecake in the mail — particularly during the summer of 2020 — you probably have Goldbelly to thank. The food delivery website first launched nine years ago, aiming to ship food from popular restaurants across the country to hungry customers, far and wide. …
Something unusual happened at Grubhub in the first quarter of this year: Its sales and orders declined (by about 5% each). The reversal of quarter after quarter of pandemic-fueled growth has added to suspicions that food delivery is running out of gas. We’ll get a better idea this week after DoorDash and Uber Eats report their own …
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Shares trade almost 12% lower CEO does not expect inflation to hit demand Say no interest in buying Grubhub Q1 revenues up 52% at 2.1 billion euros April 28 (Reuters) – Delivery Hero’s (DHER.DE) shares slumped on Thursday as investors appeared to cash in on strong first-quarter results from the German online takeaway food company, whose business …
Continue reading “Delivery Hero shares sink as investors cash in on strong sales”
America’s obsession with pandemic-era food delivery appears to be over — and the companies’ stocks are taking a hit. After hitting a high of $246 in November, DoorDash shares have plunged 62 percent to $89 a share. Over the same period, Uber shares have fallen 29 percent, from $45 to about $31. Much of the …
Continue reading “Food-delivery apps lose steam as people return to in-person dining”
Dutch meal delivery company Just Eat-Takeaway, the parent company of Thuisbezorgd, was accustomed to 10, 20 or sometimes 50% growth for years, but those days are over. Orders fell for the first time since its inception in 2000. Worldwide, the company processed 3 million orders less than a year ago and almost 10 million less …
Company may sell Grubhub, bought last year for $7.3 billion Takeaway reports 1% fall in Q1 orders as COVID boon wanes Operations to focus on growing order size, cutting costs AMSTERDAM, April 20 (Reuters) – Europe’s biggest meal delivery company Just Eat Takeaway.com (TKWY.AS) is looking at selling U.S. arm Grubhub less than a year after buying …
Continue reading “Just Eat Takeaway weighs Grubhub sale as pandemic boost fades”
Just Eat Takeaway is considering selling off its Grubhub arm after reporting a decline in orders compared with bumper levels during Covid lockdowns. The online food ordering company said orders dropped by 1% to 264.2m in the first three months of 2022 as it struggled when trying to match the pandemic-boosted levels from a year …
Continue reading “Just Eat Takeaway considers selling US arm Grubhub as orders fall”
Just Eat has downgraded its annual growth expectations while reporting a fall in orders during the first three months of its financial year, bolstering fears of a global consumer spending slowdown. Europe’s biggest meal delivery platform also revealed it had bowed to investor pressure on the future of Grubhub, the US business it bought last …
-Instacart Inc on late Thursday cut its valuation by nearly 40% to about $24 billion due to recent market turbulence, in an unusual move that shows how public market volatility affects high-flying private companies.The new valuation marks a substantial drop from last March, when the grocery delivery firm was valued at $39 billion in a …
Continue reading “Instacart Cuts Valuation By 40%; Squeezed By Tech Selloff, Heated Delivery Wars”
