Losses keep growing for HelloFresh | RetailDetail

Losses keep growing for HelloFresh

Losses keep growing for HelloFresh
Shutterstock

In the first half of 2017, meal box delivery service HelloFresh has seen both its turnover and its losses grow significantly. This gives mixed messages in the preparation of its IPO, which is planned this fall to create room for more investments.

Invest in marketing

The company’s turnover reached 435 million euro in the first half of 2017, up 49 % compared to the year before. Unfortunately for HelloFresh, profit did not reflect that same growth as the company suffered a 56.7 million euro net loss, worse than the 52.9 million euro loss from last year’s first half.

 

Most of that comes on the back of its expansion into new markets, which required a lot of marketing spending. Marketing costs grew 50 % to 123 million euro, which obviously impacted the company’s profit. The service is currently active in seven European countries, the United States and Canada.

Questions or comments? Please feel free to contact the editors


Gerelateerde items

Another six cash register-free Amazon Go stores planned

23/02/2018

Er komen na de opening van de eerste Amazon Go-winkel vorige maand nog minstens zes van de hoogtechnologische en kassaloze winkels gemakswinkels bij. Onder meer Los Angeles en Seattle krijgen nieuwe Amazon Go-winkels.

Belgian CEO leaves Le Pain Quotidien

23/02/2018

After seventeen years, Vincent Herbert has decided to step down as Le Pain Quotidien CEO. Jerry Gamez, who has plenty of experience at fastfood chain Burger King and Walmart, will succeed him.

Takeaway.com acquires Eastern European competitors

23/02/2018

Fast food supplier Takeaway.com acquired its Bulgarian competitor BGmenu and its Romanian competitor Oliviera in yet another step towards its goal of being the European market leader.

Spar will trial contact-free and cash register-free payments

22/02/2018

Retail Partners Colruyt Group – Colruyt Group’s entrepreneurial division – is creating an app for Spar which allows customers to use their smartphones to scan and pay for their own groceries.

Record results for Henkel

22/02/2018

German Henkel experienced a strong 2017, with record numbers for both its profit and turnover. The company managed to surpass the 20 billion euro turnover milestone for the first time.

Duvel Moortgat adds Italian brewery

22/02/2018

Duvel Moortgat increased its minority stake in Italian brewery Birrificio del Ducato to 70 %. The Belgian brewery, known for Vedett, has been part of the brewery near Parma since 2016.

Back to top