Just Eat Shares Drop as Customers Cut Back on Food Deliveries
- Food delivery firm said total orders fell in the quarter
- Industry is looking to reinvigorate growth after pandemic boom
A Just Eat courier in London.
Photographer: Hollie Adams/BloombergThis article is for subscribers only.
Just Eat Takeaway.com NV shares slumped after the company said orders slipped in the first quarter, signaling continued weak demand for food deliveries.
In a statement on Wednesday, the Amsterdam-headquartered firm said that total orders fell 6% to €214.2 million ($228 million) in the period, below the average estimate of analysts surveyed by Bloomberg. The stock fell as much as 6%.