Dining out is increasingly a domain of the wealthy. Restaurants are feeling it.

What’s for dinner? For an increasing number of Americans, especially households making less than $150,000 a year, the answer doesn’t involve going to a restaurant. And when people do go out to eat, they are spending less money.  Battered by higher-than-normal food prices, some consumers are pulling back on their spending — and restaurants are feeling …

A “Restaurant Apocalypse” Is Starting To Sweep Across America, And That Is Really Bad News For The U.S. Economy

You can get a really good idea how the U.S. economy is doing by watching restaurants in your area.  When the economy is booming, restaurant parking lots are full and chains are feverishly establishing new locations.  But when the economy is struggling, restaurants get a lot less traffic and poor performing locations get shut down.  …

Seattle may walk back wage hike for delivery drivers

Drivers for apps like DoorDash and Uber Eats say their earnings have plummeted since the $26.40 hourly minimum went into effect. The city of Seattle is reconsidering the big wage hike it handed to app-based delivery drivers earlier this year after drivers said it has hurt their earnings rather than helped.  City Council President Sara …

Operators predict continued catering boom

Return-to-office is increasing demand for business catering as employers use meal plans to draw workers in-person, according to a survey from ezCater. Dive Brief: Dive Insight: Offering food through an employer-provided meal program can help a restaurant reach new customers. About 47% of people who had a restaurant meal through an employer ended up ordering from …

Uber shares tumble as weaker ride-share demand hurts Q2 forecast

forecast gross bookings below Wall Street expectations, sending its shares down 9% and putting the ride-share and food delivery company on course to shed more than $10 billion in market value. Uber’s disappointing forecast was in sharp contrast to an upbeat guidance late on Tuesday from smaller rival Lyft, which lifted its shares up 8%. …

Uber and Instacart Team Up on Restaurant Deliveries, Challenging DoorDash

(Bloomberg) — Instacart is partnering with Uber Technologies Inc. to offer restaurant delivery through the Instacart app — taking on the top US food delivery app, DoorDash Inc. Instacart users in the US will be able to order from hundreds of thousands of restaurants using an Uber Eats interface that will become available within the …

Olo Announces First Quarter 2024 Financial Results

NEW YORK–(BUSINESS WIRE)–Olo Inc. (NYSE:OLO) (“Olo” or the “Company”), a leading open SaaS platform for restaurants, today announced financial results for the first quarter ended March 31, 2024. “In Q1, we got off to a great start in delivering on our 2024 financial targets, including 27% year-over-year revenue growth and non-GAAP operating margin expansion to …

DoorDash says it’s getting more affordable

While restaurant menu prices continue to climb, DoorDash says its prices are going down. The third-party delivery company said it has reduced fees by 12% over the past two years for customers who aren’t part of its DashPass subscription program.  That includes the service fees, delivery fees, small order and legislative fees that it tacks …

DoorDash disappoints Wall Street with downbeat quarterly core profit

Shares of DoorDash sank more than 14% in extended trading on Wednesday after it projected second-quarter core profit below estimates, signaling that higher costs were offseting some gains from rising groceries and food orders. The San Francisco-based online food delivery firm has been forced to increase minimum pay for its delivery workers after New York …

DoorDash earnings: Delivery giant hits quarterly records for key metrics

DoorDash heavily narrowed its net loss and hit new quarterly records for key metrics for the first quarter of 2024. But growth of total orders, marketplace gross order value, and revenue—while all still up double digits from the same time a year ago—is slowing from the same breakneck pace it achieved in past quarters.  DoorDash …