Empire hopes Uber Eats, Instacart partnership will boost e-commerce sales [Financial Post (Toronto, Ontario, Canada)]
Maplebear Inc. (CART)
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Source: Financial Post
You can save this article by registering for free here . Or sign-in if you have an account. Sobeys parent company Empire Co. Ltd. is hoping a new partnership with Uber Eats and Instacart will give it a bigger chunk of the e-commerce market and help make its online Voilà service profitable. The move comes four months after Empire decided to slow its e-commerce expansion efforts and end its exclusive partnership with United Kingdom-based technology provider Ocado Group PLC. At the time, Empire chief executive Michael Medline said the decision would allow the company to “pursue complementary growth opportunities in the market.” Empire plans to start Instacart and Uber Eats delivery in Ontario and then expand the service across the country. Participating stores include Sobeys, Farm Boy, Longo's and FreshCo. Sobeys spokesperson Sarah Dawson played down any suggestion that the new partnership signals trouble for Voilà. “We believe that Instacart and Uber Eats provide complement
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News
- How Non-Retail Businesses Can Expand The Reach Of Commerce Media [Forbes]Forbes
- Empire hopes Uber Eats, Instacart partnership will boost e-commerce sales [Yahoo! Finance Canada]Yahoo! Finance Canada
- Maplebear Inc. (NASDAQ: CART) had its price target raised by analysts at Stifel Nicolaus from $52.00 to $55.00. They now have a "buy" rating on the stock.MarketBeat
- Your Party, Delivered: Party City Now Available on Instacart for Every CelebrationPR Newswire
- General Catalyst Makes Big $8 Billion Play In AI Investment [Forbes]Forbes
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- 8/6/24 - Beat
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- 10/29/24 - Form 144
- 10/23/24 - Form 4
- CART's page on the SEC website