UBER Same-Day
Uber Eats (UBER) joins French grocer Carrefour (CRRFY) to launch Carrefour Sprint, which will deliver products to customers in Paris in under 15 minutes. Rather than delivering from stores, the service will use small warehouses called "dark stores" run by French startup Cajoo as delivery starting points. Cajoo, which Carrefour partially owns, also runs its rapid delivery service. "The opportunity is massive," said Eve Henrikson, Uber's regional manager for delivery in Europe, the Middle East, and Africa. "I think the question is, how can you win in the sense of providing the best possible customer proposition with the best possible operating model." The two companies plan to expand the offering to other cities in France over the coming weeks. In the U.S., Uber has a similar deal with startup Gopuff to deliver groceries to customers in minutes.
@Hedgeyeindstrls covers UBER
GoPUFF Goes Fresh Prepared
GOPuff is getting into the freshly prepared meal biz. GoPuff is launching three of its own branded pizzas and other private-label prepared food products. The new pizza is made in collaboration with hot sauce brand Truff, and it is joining an assortment of GoPuff-branded fresh meals that includes coffee, sandwiches, chicken tenders, and more. The move completes its transition to a virtual convenience store. In addition, Instacart is preparing for a foray into prepared foods. This month, it announced the acquisition of software called FoodStorm, which is used by "more than a dozen" grocery stores to manage fresh food and catering orders.
Instacart has also been adding a fresh meals category within its app, with the meal-kit company Sunbasket becoming the first to set up a storefront in Instacart. This followed moves from UBER and DASH getting into ghost kitchens. But for Instacart and GoPuff, the shift into fresh meals is a way to reach more customers and increase existing order values, potentially offsetting the delivery costs.
MCD Raises Guidance
McDonald's (MCD): 3Q21 Non-GAAP EPS of $2.76 beats by $0.29; GAAP EPS of $2.86 beats by $0.38. Revenue of $6.2B (+14.4% Y/Y) beats by $160M. Global comps. +12.7% vs consensus +10.0% (comps. +10.2% on a 2-yr basis.
MCD raised its 2021 Systemwide sales growth (in constant currencies) from "mid-to-high" to "high teens" and expects net restaurant unit expansion to contribute about 1% to 2021 Systemwide sales growth. Other notable items:
- "Year-to-date digital Systemwide sales from digital channels across were about $13 billion, or over 20% of total Systemwide sales in our top six markets"
- "Our global comparable sales increased 10% over 2019" (CA, FR and GER were strong; AUS was weak)
- "Our third-quarter results are a testament to our unparalleled scale and agility," said McDonald's President and Chief Executive Officer, Chris Kempczinski. "Our global comparable sales increased 10% over 2019, which was delivered across an omnichannel experience that is focused on meeting the needs of our customers. We continue to execute our strategic growth plan and run great restaurants so that we can drive long-term, sustainable growth for all of our stakeholders."
