SBUX shifts on Vaccinations
I read this as a shift to help attract "new" employees.
Starbucks Corp (SBUX) suspended the COVID-19 vaccine-or-test requirement for U.S. employees that had been mandated by the government, according to a memo sent to workers on Tuesday, following the U.S. Supreme Court ruling. Earlier this month, the company said it would require its U.S. employees to be fully vaccinated against COVID-19 or undergo weekly testing. The U.S. Supreme Court last week struck down Joe Biden administration's vaccination-or-testing mandate for large businesses, ruling that the policy overstepped executive authority. "We respect the court's ruling and will comply," Starbucks Chief Operating Officer John Culver wrote in a memo to workers. The move follows a similar decision from General Electric. According to the memo, more than 90% of the company's workers have already disclosed their vaccination status, with a vast majority fully vaccinated.
Deliveroo
ROO-LON is trading slightly higher on the news of the 4Q21 topline
Deliveroo said the gross transaction value (GTV) of orders on its platform rose 36% YoY in 4Q21, hitting the top of its guidance range with 70% growth YoY. The use of food delivery platforms has not faded since the reopening. Deliveroo said its monthly customer base had continued to grow despite the easing of lockdown restrictions, with 8 million active monthly customers in the quarter, up 37% year-on-year and up 123% on pre-pandemic levels. The number of orders grew 10% compared to the previous quarter, it said, and the average value stabilized, up by 1% in constant currency on Q3 to 21.40 pounds. Deliveroo has traded down 38% since the March 2021 listing in London, with the FTSE up 11%. Guidance for gross profit margin as a percentage of GTV was maintained at 7.5-7.75%.
Zapp Funding
The Singaporean state investment fund is backing one of the new breeds of rapid grocery delivery apps.
Sky News reports that the Government Investment Corporation (GIC) is jointly leading a roughly $200m fundraising for Zapp, which launched just 18 months ago. Sources said the new capital would also include contributions from existing investors Lightspeed Venture Partners and 468 Capital. Zapp operates dark stores in affluent London areas. Zapp's fundraising has yet to close but could be announced as soon as next month, they added. The company's valuation is unclear. Before this Series B round, Zapp had raised $100m in funding.
