Just Eat expects profits to surge by 40% in 2024

ust Eat Takeaway (JET) revealed a reduced annual loss as it put through a lower impairment charge of €1.54bn (£1.32bn) on past acquisitions, as better-than-expected adjusted cash profits (Ebitda) helped the food delivery app return to a positive free cash flow in the second half of its financial year.  A total depreciation, amortisation and impairment charge of €2.14bn this …

With a Two-Year Revenue Growth of 894%, dlivrd Ranks No. 16 on Inc. Magazine’s List of Northeast Region’s Fastest-Growing Private Companies

Inc. magazine today revealed that dlivrd is ranked No. 16 on its fourth annual Inc. 5000 Regionals: Northeast list, the most prestigious ranking of the fastest-growing Northeast private companies, based in Pennsylvania, New York, Vermont, New Hampshire, Maine, Massachusetts, Connecticut, Rhode Island, and New Jersey. Born of the annual Inc. 5000 franchise, this regional list represents a unique look at …

What does a service fee ban mean for California diners? Expect that $39 chicken to cost $49

Coming this summer is a new state law that bans unadvertised service fees, surcharges and other additional costs that are added to the end of a bill for meals or delivery service. On July 1, Senate Bill 478, which Gov. Gavin Newsom signed into law in October, is set to prohibit “junk fees” across a …

What These Restaurant And Food Tech Investors Are Hungry For In 2024

The continuing surge in food delivery culture has not only transformed the way we enjoy our meals, it has also paved the way for groundbreaking advancements in restaurant operations technology. As consumers and investors taking part in the delivery boom of recent years, we are enthusiastic about the novel technologies that help restaurants better serve …

Olo Inc.’s Financial Health: A Mixed Picture of Revenue Growth and Operating Losses

Olo Inc. has shown consistent revenue growth since its IPO, but concerns remain about its operating losses and negative operating cash flow. This analysis explores Olo’s financial health, product offerings, and market position compared to competitors like Toast. Olo Inc.’s Public Offering and Financial Health: A Comprehensive Analysis Olo Inc.’s Public Debut and Revenue Growth …

DoorDash’s rising labor costs weigh on Q1 profit outlook, shares fall

DoorDash (DASH.O), opens new tab on Thursday forecast a quarterly profitability metric below Wall Street expectations, hurt by higher labor costs that overshadowed a surge in delivery orders, sending its shares down over 8% in extended trading. The delivery firm, which also reported a wider-than-expected loss for the fourth quarter ended Dec. 31, has increased minimum pay …

Instacart, DoorDash and Uber up their grocery ante

Uber’s grocery and retail vertical generated $7 billion in annualized gross bookings in its fourth quarter, while Ahold Delhaize’s U.S. banners are linking with DoorDash. Third-party e-commerce players are bolstering their grocery game this year by expanding food retailer partnerships, and they are seeing sales booms from their grocery investments.  Instacart announced Wednesday that Whole Foods …

DoorDash Aims to Boost Presence Abroad While Rivals Struggle

DoorDash Inc., already the top restaurant delivery company in the US, is now looking to strengthen its presence abroad. The San Francisco-based company operates in 28 countries outside the US, mostly in continental Europe, Japan and Australia. Yet it doesn’t enjoy the same name recognition in any of those markets the way it does in …

Uber expects strong core profit as ride share, food delivery pick up pace

Uber Technologies forecast quarterly core profit and gross bookings above estimates and reported market-beating results for the holiday quarter on Wednesday, fueled by higher demand in its ride sharing and food delivery businesses. It posted its first annual net profit as a public company as user retention improved, also benefiting from initiatives like memberships, corporate …

Delivery Hero Sells $97 Million Stake in Deliveroo

Delivery Hero has sold its 4.5% stake in British food ordering platform Deliveroo. The Berlin-based company announced the $97 million sale of its 68 million shares in a news release Monday (Jan. 29), with the sale expected to settle Thursday (Feb. 1). “Following settlement, the company will not hold any remaining shares in Deliveroo,” the release said. …