Chipotle could exceed $2.5B in digital sales in 2020

Dive Brief: Chipotle’s digital sales grew 202.5% to $776.4 million and accounted for 48.8% of total sales during Q3 2020, according to an earnings release. About half of these sales were from delivery with the other half coming from order ahead, which includes in-store pickup and Chipotlanes.  The company expanded its delivery capabilities with additional partnerships with […]

Postmates Is Over $929.3 Million in the Hole

According to the Wall Street Journal, a Friday regulatory filing from SF-based Uber reveals that (also SF-based) food delivery app Postmates is running at a very, very steep loss. “Postmates had an accumulated deficit of $929.3 million as of June 30,” reporter Laura Forman notes, and in the second quarter of 2020 — yes, in those […]

POSTMATES MORE THAN DOUBLES REVENUE IN Q2 AHEAD OF UBER EATS DEAL

Third-party delivery service Postmates saw revenues increase by more than 125% in the second quarter while also cutting its losses as it heads into a proposed acquisition by Uber Eats—a deal that has drawn additional scrutiny from the Department of Justice.  That information was disclosed in a document filed late Friday by Uber with the Securities and […]

EatStreet provides safety for students and support for restaurants during pandemic

Wisconsin-based food delivery company EatStreet was founded in 2010 by UW-Madison alumni Matt Howard and Alex Wyler. According to the EatStreet website, the company operates in 250 different cities and more than 15,000 restaurants in the nation.  EatStreet regional marketing coordinator, Michelle Cagney said that the company has focused its marketing towards students, although the on-the-ground marketing team is now working remotely. “It has been a little challenging with COVID-19. We are non-essential and we […]

Food deliveries booming in pandemic while other parts of ‘gig economy’ not in demand

Just like other sectors of the workforce, the “gig economy” hasn’t been able to navigate the coronavirus pandemic unscathed — but some independent contractors are far more in demand than others. Unlike a traditional job that pays a salary and benefits, gig workers are paid by the job — or the “gig” — and leverage […]

Uber: Revisiting The Profitability Forecast, And It’s Only Worse

Summary Uber originally aimed to have a break-even in adjusted EBITDA by 2021, but the first two quarters have that figure down $181 million YoY. Rides bookings are down 73.88% since Q4 2019, while contribution to adjusted EBITDA is down 92%. Eats bookings have grown 122% YoY, but adjusted EBITDA for the segment is still […]

Uber Eats grows its restaurant partner roster by 50%

Dive Brief: Uber reported a 103% year-over-year revenue increase for Uber Eats as part of its Q2 earnings Thursday, according to a company release. Comparatively, Uber’s ride-hailing business saw a revenue decline of 67%.  Active partnered restaurants on Uber Eats crossed the 500,000 mark in June, up 50% year-over-year. The company added enterprise accounts including Baskin […]

Lafayette-based Waitr beats second-quarter estimates, posts record $10.7 million profit

Lafayette-based food delivery service Waitr announced Thursday its second quarter results beat earlier estimates, posting a $10.7 million in its official results instead of the $8 million estimated earlier. The second quarter marked Waitr’s first profitable quarter since the company went public in 2018. Waitr’s preliminary results in early July estimated the $8 million profit for the company. In the […]

Uber shares drop 4% after it loses more money than expected in Q2

Image Credits: ANTHONY WALLACE Today after the bell, American ride-hailing giant Uber  released its second-quarter results. The company’s revenue fell compared to both the year-ago quarter (Q2 2019), and the sequentially preceding period (Q1 2020). Investors had anticipated Uber’s declines due to COVID-19, and the company had spent time earlier this year assuring the investing public that it had enough cash […]

Grubhub Reports Shaky Growth Going into JET Transaction

Grubhub (NYSE: GRUB) reported strong second-quarter results and gave a few updates on the Just Eat Takeaway.com (JET) transaction. The company released the results without an earnings call as the company has chosen not to hold calls until the close of the JET acquisition. Revenue and user growth continued on the solid trajectory seen in […]