The Friday Checkout is a weekly column that provides more insight into what’s new, recaps announcements you may have missed, and shares what’s to come.
Instacart plans to go public before the end of 2022, the Wall Street Journal reported last week, citing unnamed sources familiar with the matter. In a different but surprising move, Instacart is expanding beyond groceries and expanding its repertoire into fashion with limited-edition clothing and accessories — and yes, the items feature the symbols of carrots.
The Wall Street Journal noted that many bankers who advise companies on IPOs expect large, unprofitable companies to go public “until volatility subsides and other stocks from recent IPOs recover.” walk.”
KPMG noted that consumer and retail businesses were down more than 30% in the first quarter compared to the prior period, CNBC reported, and Retail Dive noted that some planned IPOs or other transactions have stalled. Does Instacart see this?
Industry experts have already raised concerns about Instacart’s IPO plans, especially given the current market conditions.
“It’s going to leave a lot of money on the table,” David Ritter, chief executive of Alvarez & Marsal Consumer & Retail Group, said on OmniTalk’s podcast in mid-May after Instacart filed a confidential draft registration statement. A possible IPO. Calling this a “now or never” opportunity for Instacart, Ritter noted that it is struggling with profitability and rising driver and fuel costs.
After posting a valuation of $39 billion last year, Instacart cut its valuation nearly 40% to nearly $24 billion in March. In July, Capital Group lowered its rating of Instacart, Bloomberg reported. An unnamed source told The Wall Street Journal that Instacart was profitable in the second quarter of this year.
In another puzzling move, Instacart has a “limited edition capsule collection.” In collaboration with streetwear fashion designer Anwar Gajar (get it?), the collection features four products: a tote bag, water bottle, long sleeve t-shirt and bucket hat. The items are exclusively available on Fridays on NTWRK, a livestream shopping platform for young consumers. Is Instacart Soliciting Walking Ads From Gen Xers And Millennials?
“So what about the brands that have never sold clothes before suddenly launching entire collections?” Adweek asked about Instacart’s streetwear collaboration in its letter.
Another question: How many people really want to wear the Instacart logo and the picture of a carrot?
The HE-B store in Leander, Texas on Ronald Reagan Boulevard.
Courtesy of HEB
In case you missed it
HEB is testing a self-checkout machine that scans the entire shopping cart
Details of how the system works at this time are sparse, but according to a customer account noted by San Antonio-based news site MySA.com, customers are going through their shopping cart with a “quick scan” device. , and it will log all your selections. before they can pay. An image on the website shows a large structure resembling an airport security gate.
HEB confirmed to the news site that it is testing the fast-scan technology with employees at the Schertz, Texas store where it was discovered, but did not reveal any plans for expansion. In 2013, Grocer tested a version of FastScan where shoppers placed all of their products on a conveyor belt — Meijer was testing similar technology at the time — and in 2018 began a scan-and-pay program with HEB Go.
COVID-19 continues to have a “severe impact” on frontline workers, according to UFCW study
This week, the United Food and Commercial Workers International Union (UFCW) and the University of Nebraska Medical Center released the results of a year-long study that outlines the impact of COVID-19 on frontline workers and suggests the virus may still be alive a role plays great effect. She.
Of the 20,000 UFCW members surveyed as part of the report, 59% who have COVID-19 said they think they contracted it at work and 6% said he needed hospitalization will. Four percent of workers who have contracted the virus say they are unable to return to work, and half of all respondents said in May they were still feeling “profound effects” from the virus.
In its announcement, the UFCW called for the expansion of paid sick leave in all industries under the Occupational Safety and Health Administration (OSHA), as well as a statewide standard of protection for workers from infectious diseases.
A new pickup-only startup is putting down roots in Oklahoma
Some pickup-only grocers have recently opened in places like Chicago and South Carolina to capitalize on high demand for the e-commerce service. Add a new participant to the list under construction in Oklahoma City.
According to reports from local news site OKCTalk.com, Jack Bee’s will offer a quick pick-up service for shoppers, as well as deliveries via third-party suppliers like DoorDash. Shoppers with access to the 17,000-square-foot store can order products on-demand after scanning a QR code — an approach startup OP is taking.
The company hasn’t said when its first location will open, but plans to eventually open multiple locations in Oklahoma City.
Schwan’s renames Yellowh.
Retrieved on August 05, 2022 from Yelloh
Number of weeks: 300
According to Modern Retail, Schwann’s home delivery aims to launch its new model after a major rebranding effort.
The 70-year-old food delivery company will now be known as Yellowh, reflecting its signature yellow trucks. Rather than calling to place an order or waiting for a pickup truck — the traditional ordering method for Schwann’s customers — users can receive text alerts when a truck is near them.
According to Chief Strategy Officer Kevin Boyam, the upgrade has already been implemented in 50 markets.
What’s next
earn plenty
The three companies — Blue Apron, Grocery Outlet, and AholdDelhis — are set to report their second-quarter results next week. Blue Apron will be announced Monday morning, the aftermarket grocery store Tuesday and Ahold Delhaise early Wednesday.
Trader Joe’s second union vote
Trader Joe’s last week formed its first workers’ union among workers at a store in Hadley, Massachusetts. Next Thursday and Friday, Trader Joe’s employees will vote at a Minneapolis store on whether to unionize.
July inflation figures
Industry experts are closely monitoring the continued growth in the Consumer Price Index (CPI), particularly home food prices. July CPI results were released on Wednesday and are expected to be at an all-time high.
Aldi Wedding
Engaged and looking for a wedding location? Couples can apply for a November 9 wedding in the aisles of the Aldi Insights Center in Batavia, Illinois, which will feature an Aldi recruiter, branded cake, photo shoot and general Aldi-themed reception for up to 50 guests, completely free . load. And as a gift from the grocery chain to the newlyweds, they get free groceries for a year. According to Grosser’s announcement, the winner will be announced at the end of August.
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