The Montreal-based meal-kit and grocery-delivery company reported a 27 per cent year-over-year decrease in net sales, while gross profit fell 43 per cent in the second quarter. The company, which has moved beyond its meal-kit staple to on-demand delivery of its private-label groceries, said its active customer base reached 27,000, a 108 per cent increase from the previous quarter. (The Logic)
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The Montreal-based meal-kit and grocery-delivery company reported a 27 per cent year-over-year decrease in net sales, while gross profit fell 43 per cent in the second quarter. The company, which has moved beyond its meal-kit staple to on-demand delivery of its private-label groceries, said its active customer base reached 27,000, a 108 per cent increase from the previous quarter. (The Logic)
Talking point: The company said its on-demand service, which promises subscription-free grocery delivery, is key to its profitability. “Our customers are absolutely loving the flexibility of our 30-minute on-demand offering, with a cult-like following of our exclusive Goodfood products,” said CEO Jonathan Ferrari in today’s earnings call. As The Logic reported last week, the company laid off 70 staff members and shuttered its Ontario distribution centre amid inflation, supply-chain and labour struggles.
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