Winter chill over My Food Bag earnings and staff cuts

My Food Bag's chair Tony Carter, left, and CEO Mark Winter. (Image: My Food Bag)

Mon, 22 May 2023

My Food Bag chief executive Mark Winter says he’s “almost given up” trying to guess which direction the company’s share price is going to head as investors react to market news.The meal-kit company's share price has been belted in recent times, falling more than 72% in the past 12 months, from 72.2 cents to 18.5 cents as of Friday.The shares first opened trading on the NZX at $1.76 on March 5, 2021, which was down 5% on the initial public offer price of $1.85.Mark Winter has been at My Food Bag since early 2019 &ndas...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}