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

Harvey Norman ‘deterrent’ clause not enforceable: lawyers
Retail

Harvey Norman ‘deterrent’ clause not enforceable: lawyers

Retailer’s proprietor structure opts out of employee relationship.  

Gregor Thompson 09 May 2025
Why this firm wants to be the waste king of the north
Retail The Small Cap Wrap

Why this firm wants to be the waste king of the north

Plus, New Talisman's success spurns auditor, Esquires to India, and more.

NZ sharemarket drops despite upbeat update
Retail Market Close

NZ sharemarket drops despite upbeat update

With reporting season looming, the NZX dipped slightly.

Tom Raynel 08 May 2025
‘Encouraging’: Warehouse Group Q3 sales up 2.2%
Retail

‘Encouraging’: Warehouse Group Q3 sales up 2.2%

Foot traffic is up, but margins are down.

Gregor Thompson 08 May 2025