My Food Bag warns inflation will squeeze 2023 earnings

My Food Bag warns inflation will squeeze 2023 earnings
The meal-kit delivery company said customers were choosing to buy its lower margin products such as Bargain Box. (Photo: Bex Stevenson)
Dan Brunskill
My Food Bag says inflation and a slowing economy have caused customers to downgrade to its cheaper meal-kit options, lowering earnings in the past four months.The meal-kit delivery company told investors today that deliveries were down 3.8% at the end of July, compared to the same period a year earlier.Revenue in the first four months of the March 2023 financial year was up 2.5%, but underlying earnings were down approximately 8.5%, the company said.  The omicron outbreak at the start of the calendar year meant My Food Bag experienced supp...

More Retail

Card spending eases in November vs October
Retail

Card spending eases in November vs October

But there is cheer for the hospitality industry. 

ForBarr raises Hallenstein Glasson target price 20%
Retail

ForBarr raises Hallenstein Glasson target price 20%

The outlook in the golden country is golden, they say.

Gregor Thompson 11 Dec 2024
Supermarkets say ‘errors’ behind ComCom criminal charges
Retail

Supermarkets say ‘errors’ behind ComCom criminal charges

ComCom has filed criminal charges against Woolworths and two Foodstuffs supermarkets. 

Gregor Thompson 11 Dec 2024
NZSA opposes Hallensteins chair re-election
Retail

NZSA opposes Hallensteins chair re-election

Hallenstein Glasson chair Warren Bell was appointed to the board in 1986.

Gregor Thompson 10 Dec 2024