DASH New business model
DASH is a LONG - What does the new DashCorp subsidiary suggest for profitability?
DoorDash is doubling down on its first-party DashMart initiative, creating an entirely new class of W2 labor that goes against its part-time gig model. Under vertically integrating, DoorDash doesn't have to worry about take rates from third-party restaurants or grocers– it is the merchant of record. And by hiring its own bikers through its new DashCorps subsidiary, it can better control the working conditions and minimum wages that have previously left its Dashers out in the cold. The changes in Europe's labor laws are also an incremental negative.
NEW CFO
PLAY IS A SHORT
Dave & Buster's Entertainment (PLAY) appoints Michael Quartieri as the company's new chief financial officer, effective Jan. 1, 2022. Previously, Quartieri served as CFO and Corporate Secretary at LiveOne (LVO) and at Scientific Games (SGMS) in similar roles. Kevin Sheehan, Chairman of the Board and Interim CEO, says, "Our momentum is building. Michael's financial expertise, a strong track record for growth, and engaging style will no doubt help to fuel our momentum, and we are excited to welcome him to our team."
Retail Sales
The retail sales for Food Service & Drinking Places increased 37.4% YOY in November, accelerating 700bps from October. On a two-year average basis retail sales accelerated 210bps to 9.9% in November.
MARKET SHARE
The Food Away Home share of total food consumption increased 50bps to 47.1% in November. Food Away from Home share was 50.1% in February 2020.
