|Bid||38.58 x 1200|
|Ask||39.39 x 800|
|Day's range||35.67 - 39.85|
|52-week range||29.35 - 80.25|
|Beta (5Y monthly)||1.16|
|PE ratio (TTM)||N/A|
|Earnings date||22 Apr 2020 - 26 Apr 2020|
|Forward dividend & yield||N/A (N/A)|
|1y target est||50.38|
Grubhub founder and CEO Matt Maloney talks with Yahoo Finance about how the food delivery business is navigating the coronavirus pandemic.
Yahoo Finance catches up with Yum! Brands CEO David Gibbs to discuss how his business is faring during the coronavirus.
Uber Eats is seeing a surge in restaurants sign-ups amid lockdowns across cities and states in the U.S.
(Bloomberg) -- Food delivery continues to be a rare bright spot in harrowing economic times. Orders last week at grocery delivery service Instacart Inc. were up more than 150% compared with the same period a year earlier, according to a source close to the company who asked not to be named discussing private business details. In China, when Covid-19 was bearing down hardest, Beijing Missfresh Ecommerce Co, another grocery delivery service, saw revenue grow 205% compared to a year earlier, one of its investors said.The spike in demand is visible across the board. Pizza delivery companies are putting up job postings. Uber Technologies Inc. is transitioning ride-hailing drivers to its Uber Eats service. Companies like DoorDash Inc. and GrubHub Inc. are slashing or delaying their fees to restaurants in an effort to keep the hot-meals flowing. Matt Maloney, the CEO of GrubHub, said his company is receiving more new registrations from restaurants than it can process.Investors in food delivery companies now frame their services as forces for public good. "The top priority should be winning the war against the virus," said Paul Hudson, chief investment officer at Glade Brook Capital Partners, which backs Instacart. "Online order and safe delivery is a critical solution in this crisis." Glade Brook also backs Capsule, a pharmaceutical delivery company that has seen its business spike as people look to avoid standing in crowded drug stores. It helps that officials have endorsed food delivery. City governments have told restaurants to shut down in-house service, and some cafes and restaurants have removed seating to make it clear to diners they are not welcome to stay. President Donald Trump this week stressed the importance to public health of drive-thrus, as well as delivery and pickup.The World Health Organization doesn’t have a recommendation when it comes to delivery services. But public health experts believe food delivery can be a relatively safe way to get food in a time of self-quarantines and shelter-in-place orders. “Food is really not a factor here in transmission,” said Benjamin Chapman, professor and food safety extension specialist at North Carolina State University. “The really big risk factors are just being around ill people.”Food delivery service are making changes to reduce risk. Some are encouraging drivers to drop off food without making direct contact with the customer.Experts say there are things customers should do to protect themselves as well. “If you let it sit for a while before you pick it up, then bring it in and wash your hands, that will also further reduce the risk,” said Anne Liu, an infectious disease doctor at Stanford University. “The risk of transmission through delivered grocery goods is low to begin with.”Some of the risks inherent in an increased reliance on delivery food predate the Covid-19 outbreak. “People need to keep everything in perspective and try to eat a healthy diet whether they're ordering it online or preparing it at home,” said Craig Hedberg, the co-director of the Minnesota Integrated Food Safety Center of Excellence.Maloney of GrubHub was careful when discussing the safety benefits of his company's services. “I am not a scientist and I’m not the right person to comment on the safety,” he said. An investor in another food delivery company said he would avoid ordering a salad for safety reasons, but thought hot food was fine.Salad is probably just as safe as hot food, according to Chapman. Even sushi is okay—at least when it comes to the coronavirus. “I think it's as safe as it always was,” he said. “There's always a risk with sushi.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- Blue Apron Holdings Inc.’s stock more than doubled this week as cities around the country are forcing restaurants to curtail operations and as panic-buying empties the shelves of the nation’s grocers.“With so many households practicing social distancing and remaining at home, getting fresh ingredients for at-home preparation holds appeal,” Bloomberg Intelligence senior analyst Jennifer Bartashus said.Shares of the meal kit delivery are up more than 50% for a second straight day, while Canadian peer Goodfood Market Corp. increased 44% over the two-day period. Food delivery services Waitr Holdings Inc.’s stock is up 141% since the start of the week and GrubHub Inc. climbed 22% Tuesday.Some major cities including New York, Los Angeles and Seattle are limiting restaurants to take out and delivery orders. Similar rules have been put in place in states including Illinois, Massachusetts, and Ohio. Meanwhile, supermarkets are being flooded with customers, emptying shelves for some items.Last month, Blue Apron announced that it’s evaluating options to rekindle the business, including raising additional capital or selling assets. If the troubled company can capitalize on the virus-driven boost in demand, it may be more likely to pull off a sale, Bartashus saidBlue Apron short interest is 41% of float, according to S3 Partners.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
With a large section of the population being forced to confine themselves at home, food delivery stocks are gradually gaining in precedence.
Uber Eats is the latest aggregator to suspend commission from restaurants hit by the coronavirus outbreak, following in the footsteps of GrubHub Inc and Postmates Inc. Takeaway.com, Europe's largest online food ordering and delivery service, said on Monday it had seen a surge in restaurants signing up on its platform in the Netherlands in the wake of a government-ordered restaurant closure. GrubHub on Friday said it expected dine-in traffic in U.S. eateries to reduce by 75% over the next few weeks.
Uber Eats is the latest aggregator to suspend commission from restaurants hit by the coronavirus outbreak, following in the footsteps of GrubHub Inc and Postmates Inc. GrubHub on Friday said it expected dine-in traffic in U.S. eateries to reduce by 75% over the next few weeks.
As Americans hole up at home to wait out the coronavirus pandemic, fewer people are going out to eat, leading some fast food chains to cut delivery fees and meal delivery platforms to suspend commissions. Third-party delivery provider Grubhub Inc said on Thursday that it will suspend the collection of commission fees it normally charges to restaurants nationwide to be on its app, up to $100 million. Fast-casual restaurant Chipotle Mexican Grill Inc will provide free delivery from Sunday through the end of March on orders over $10 placed through its app.
The spread of the coronavirus and sweeping policy measures to combat it have led to a spike in online food delivery, but risks remain.
By buying an index fund, you can roughly match the market return with ease. But if you buy good businesses at...
DoorDash filed confidential paperwork to go public. According to a veteran analyst, neither it nor many of its competitors will be able to IPO anytime soon in this turbulent market.
(Bloomberg) -- In the suburbs of Dublin on a windy, overcast day in January, several alumni of Airbus and the U.K.’s Royal Air Force watched as a flying object, shaped a bit like a crouching frog, hovered about 10 meters (33 feet) up in the air.The craft, called MNA-1090, opened its cargo bay door, and lowered a package — about the size of a shoebox — to the ground on a string. The robotics engineers who’d helped design the vehicle opened the carton, looked inside, and smiled: the dozen-or-so pots of Ben & Jerry’s ice cream were still perfectly frozen.In late March, customers on the outskirts of Dublin, far from the dense metropolises that make services like Uber Eats and Deliveroo viable in terms of revenue, will get to try ordering food and drink the same way. Manna.aero built the MNA-1090 drone to be an airborne replacement for the human-and-bicycle formula used the world over by food-delivery apps, and is preparing to run a couple of hundred test flights per day over several weeks to lay the groundwork for a permanent service for small Irish towns. Ben & Jerry’s, U.K. food delivery firm Just Eat Plc, and local Irish restaurant chain Camile Thai are signed up to participate in the pilot that will take place at the University College Dublin campus.“In five years, it’s going to be the most normal thing you can imagine,” Manna Chief Executive Officer Bobby Healy says.If you live in a city, having a hot meal delivered to your doorstep in under an hour has never been easier or cheaper. For about the price of a small coffee, a human being will cycle to a restaurant, collect your freshly baked pizza and bring it to your apartment. Innovations in smartphones, mapping and gig-economy logistics have catalyzed growth of the sector, which research firm Frost & Sullivan estimates will be worth $200 billion by 2025.But the margins are tiny for the companies handling the delivery, and the competition fierce. In October, Grubhub Inc. executives told shareholders they didn’t believe it was even possible to generate significant profit from food delivery. The cost of paying people to drive food around was just too much, they said.Companies are looking for an alternative, and a roster of investors believe Healy might have a model that could work: a drones-as-a-service for restaurants and delivery apps.Here’s how Healy said it will work: Manna will partner with restaurants or food courts that have a high-throughput of orders and a small outdoor space to house a drone-loading team. The Manna craft itself is about the size of a computer printer and will carry meals weighing around 2 kilograms (4.4 pounds) more than 2 kilometers (1.2 miles) in under three minutes, even in wind and rain.Upon arriving at its destination, the drone will hover and wait for the customer to accept delivery using an app, having indicated when ordering exactly where they want their food to land — on the lawn, an outdoor dining table or just in the driveway. The drone will descend and lower the food parcel that, Healy said, will still be “piping hot.”Manna’s vehicle has been designed to travel for 100 million hours without a problem, Healy said in an interview. But, alongside space for three 10-inch pizzas, it also has a backup battery and two parachutes, just in case.The 51-year-old Irish entrepreneur is a mobility veteran: In 2003, he sold off travel software firm Eland Technologies to industry titan Sita.Aero. He then helped build CarTrawler into a transportation platform used by more than 100 international airlines. Healy’s got some well-known names putting $5.2 million behind Manna, including billionaire Peter Thiel’s Founders Fund, Dynamo venture capital, and FFVC, among others.For food platforms, Manna says the service is more than just a gimmick — it will lower delivery costs and allow them to scale to currently under-served suburban areas in a profitable way. Healy said Manna’s drone delivery will cost platforms $3 to $5 per delivery.Fabricio Bloisi, CEO of online delivery platform iFood in Brazil, said the use of drones is a “great breakthrough” for the industry because of their efficiency and ability to travel relatively large distances. He said his company’s working with Sao Paulo-based Speedbird to reduce delivery time by combining the use of drones with bicycles and motorbikes.Uber’s testing a drone for food delivery in the San Diego area, and Alphabet Inc.’s Wing is already delivering coffee, food, medicine and household items directly to homes in Finland, Australia and the U.S. state of Virginia.Amazon.com Inc.’s also developing its Prime Air service, with a view to delivering parcels, not necessarily food, of up to five pounds via drone. The company’s bidding for a stake in the U.K.’s Deliveroo.Healy isn’t worried. He’s pitching Manna as a business-to-business company, where its drones are used by food delivery companies, not end consumers. To the entrepreneur, Wing isn’t his rival. “We’re arming their competitors.”Still, not everyone is so rosy about the drone delivery trend. In a sign of how divided views are on the technology, Dutch food delivery firm Takeaway.com NV — which recently bought Just Eat, one of Manna’s partners for the March pilot — said it thinks drone delivery for food is a “fantasy.”“We just don’t see any way how it can work currently from a technical perspective,” said Joris Wilton, a spokesman for Takeaway. “We will not be investing in developing it in-house.”Miki Kuusi, co-founder and CEO of Helsinki-based food delivery company Wolt, said his company has tested drone deliveries, but, “it’s been more PR than actually about a business case.”That partly has to do with complexities around picking up the food orders, he said. Drone services have to be deeply integrated with the restaurants to ensure that drones are loaded in the right way, something “most restaurants in a hectic environment are not equipped to do.”Then there’s the tricky issue of regulation. Airspace authorities have tightened restrictions on drone usage as their popularity with consumers and troublemakers has grown. People also express discomfort at the idea of machinery whizzing above their homes — both for privacy and safety reasons. Add to that the complexity of hauling hot food in the sky over several kilometres and it’s an uphill battle for any startup to launch a service.Healy recognizes that changing the industry won’t come overnight, given the need to safely test the technology, get approvals from regulators at each new stage as well as from the local communities.Still, he expects to have completed between 20,0000 and 50,000 successful deliveries by year-end.“With this industry it’s ‘crawl, walk, run,’” Healy said, “and we want to crawl for a little while, we want everyone to feel good about it.” To contact the author of this story: Natalia Drozdiak in Brussels at firstname.lastname@example.orgTo contact the editor responsible for this story: Nate Lanxon at email@example.com, Amy ThomsonFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Shake Shack Inc expects its delivery sales to be volatile throughout 2020 after its move last year to an exclusive partnership with third-party platform Grubhub Inc , it said on Monday. The New York City-based fast-casual chain expects "potentially significant volatility in the delivery channel throughout much of 2020," Chief Financial Officer Tara Comonte said during an earnings call on Monday. Shake Shack shares were down more than 12% in after-market trading on disappointing results, with revenues this year forecast between $712 million and $720 million, well below average analyst estimates.
The retail apocalypse has hollowed out malls across the U.S. And the downward trend has spurred a phenomenon, dubbed “ghost kitchens."
Uber is able to turn a robust positive EBITDA for its core ridesharing business, but its other bets have been pulling down the company's profitability
Grubhub Inc. (NYSE:GRUB) last week reported its latest yearly results, which makes it a good time for investors to...