Takeaway giant Just Eat reported a decline in orders for the third quarter as demand for online food delivery in North America remained weak.
The Amsterdam-headquartered business said orders fell 6 per cent to 211.1 million in the third quarter, compared with an estimate of 212 million in a Bloomberg survey of analysts. Orders in North America fell 12 per cent in the period.
Just Eat has been working to boost order growth through partnerships and loyalty programs, while diversifying the categories it delivers from its platform. It has also expanded into non-food categories such as pharmacy and wellness, including a partnership last month with sex-toy maker Lovehoney Group.
The company’s northern Europe, UK and Ireland markets, which now account for about 60 per cent of orders, continued to report growth.
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Just Eat continues to explore a partial or full sale of its US business Grubhub, which it acquired for $7.3 billion in 2021. - Bloomberg
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