My Food Bag expects margin loss as prices lag inflation

My Food Bag expects margin loss as prices lag inflation
My Food Bag chair Tony Carter and its chief executive, Mark Winter. (Image: Supplied)
Gregor Thompson
My Food Bag says it expects to take a margin hit as food inflation outpaces its ability to raise prices. In his address at the meal-kit delivery firm’s annual meeting on Wednesday, chair Tony Carter said sales rose 3.8% over the first 4 months of the financial year compared with the same period last year. Carter added the firm expects first-half gross margin “to close below prior year as our price increases have lagged food price inflation”. During questions, one shareholder asked if the company expected to matc...

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