CORRECTED-UPDATE 1-HelloFresh shares fall as it pushes back break-even point [Reuters]
Blue Apron Holdings, Inc. (APRN)
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Source: Reuters
CORRECTED-UPDATE 1-HelloFresh shares fall as it pushes back break-even point | Reuters Reuters Staff 2 Min Read (Removes erroneus reference to Just Eat in paragraph 4) Aug 13 (Reuters) - Shares in German meal-kit delivery firm HelloFresh slumped on Monday after it said it no longer expected to break even in the fourth quarter of this year as it plans to invest margin profits to support growth. HelloFresh added it now planned to achieve such break-even on adjusted earnings before interest, taxes, depreciation and amortisation (AEBITDA) basis during the course of 2019. The company’s shares were down 6.6 percent as of 0800 GMT, while the German small-cap index traded 0.8 percent lower. It follows a similar decision by Delivery Hero, which last week decided to shelve profitability targets this year as companies across the online takeway and meal-kits sector spend heavily in order to gain greater market share. HelloFresh, which competes with struggling U.S. rival Blue Apron, said investmen
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