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☆ Why this market has left behind direct-to-consumer companies like Warby Parker, AllBirds and Rent the Runway
▼ + stars: | 2024-04-03 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Direct-to-consumer brands – household names like HelloFresh, Peloton, Allbirds, Stitch Fix, Warby Parker and Rent the Runway, which cut out traditional retailers, wholesalers and other middlemen – have been falling. Investors shied away from high-growth stocks and retreated into companies with solid fundamentals and, most importantly, lots of profit. The problem is that none of these direct-to-consumer (DTC) companies have managed to make the transition to profitability themselves. Rent the Runway was down $114 million, and mattress company Purple lost about $121 million. Other companies, like SmileDirectClub, which went public in 2019, and Winc, a wine subscription company that went public in 2021, have declared bankruptcy.

Persons: Allbirds, Warby Parker, don’t, they’ll, ”, Ben Cogan, they’ve, Cogan, Casper, “, it’s, Sesame, Michael Botta, Tesla, Chris Isidore, Elon Organizations: New, New York CNN, Agora, CNN, Hubble, Venture, “, Companies, Wonder Group, Durational Capital Management, Costco, Western, Tesla Locations: New York

☆ Why direct-to-consumer darlings such as Casper, Allbirds and Peloton are now struggling
▼ + stars: | 2024-02-10 | by ( Devan Burris | ) www.cnbc.com time to read: +2 min

A once-bustling group of companies, backed by billions in venture capital funding, saw a record year for IPOs in 2021. Now, three years later, most of those direct-to-consumer, or DTC, companies still struggle with profitability. "One of the problems with a lot of direct-to-consumer companies is they're not profitable and a number of them don't really have a convincing pathway to profitability. With the cohort came a huge wave of venture capital funding, propped up by low interest rates. As the Covid-19 pandemic moved most shopping online, venture capital funds were all-in on digital native direct-to-consumer companies.

Persons: GlobalData Retail's, Neil Saunders, Warby Parker, Casper Organizations: IPOs, CNBC, Wonder Group Locations: ThredUp

☆ Food-delivery startup Wonder Group gets $100 million investment from Nestle
▼ + stars: | 2023-11-07 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +5 min

It's also developed high-tech kitchen equipment to speed up and simplify cooking. Prior to Wonder, Lore founded and sold e-commerce startup Jet.com to Walmart for $3.3 billion in 2016. Food-delivery company Wonder Group has gotten a cash infusion from Nestle , as the startup looks to sell high-tech kitchen equipment and prepared ingredients to businesses such as hotels, hospitals and sports arenas. Some of those companies may also want Wonder's kitchen equipment, Lore said. The partnership will start with Nestle making pizza and pasta tailored for Wonder's kitchen equipment, along with selling the kitchen equipment to clients.

Persons: Bobby Flay, José, It's, Lore, Marc Lore, Melissa Henshaw, that's, Wonder, Andrés, Michael Symon, Uber, DoorDash Organizations: Walmart, Amazon, Nestle, CNBC, Kroger, Foods Locations: New Jersey, New York, New York , New Jersey, Connecticut

☆ Blue Apron to be acquired by Wonder Group for $103 million, capping tumultuous post-IPO ride
▼ + stars: | 2023-09-29 | by ( Drew Richardson | ) www.cnbc.com time to read: +1 min

In this article APRN Follow your favorite stocks CREATE FREE ACCOUNTScott Eisen | Getty Images News | Getty ImagesMeal kit business Blue Apron announced Friday it has agreed to sell itself to food and restaurant company Wonder Group, founded by entrepreneur Marc Lore, for $103 million. The deal, at $13 per share, represents a significant premium from Blue Apron's per-share price at Thursday's close of $5.49. The sale caps years of ups and downs for Blue Apron, once a leader in at-home meal deliveries. In recent months, the company has transitioned to become a more asset-light business, selling its operational infrastructure to California-based meal provider FreshRealm for $50 million and laying off significant swaths of its workforce. "The Blue Apron brand and products that our customers know and love will stay the same, with more opportunity for product expansion in the future," Blue Apron CEO Linda Findley said in a statement Friday.

Persons: Scott Eisen, Marc Lore, Linda Findley Organizations: Getty, Wonder Group Locations: Thursday's, California

Stocks broadly got a boost after yields in the Treasury market eased further off their highest levels in more than a decade. Yields fell after a report showed the measure of inflation that the Federal Reserve prefers to use was a smidgen cooler last month than economists expected. It charged this week to its highest level since 2007, up from 3.50% in May and just 0.50% in 2020. The latest monthly update on the U.S. jobs market is due next week, with a couple of important reports on inflation coming the following week. Big Tech stocks were helping to lead the market, as they're seen as some of the biggest beneficiaries from easier yields in the bond market.

Persons: it’s, ”, Brian Jacobsen, doesn’t bode, it's, Brent, Schlumberger, Matt Ott, Elaine Kurtenbach Organizations: Dow Jones, Nasdaq, Nike, Federal Reserve, Treasury, Annex Wealth Management, Wonder Group, Big Tech, Microsoft, Nvidia, Exxon Mobil, AP Business Locations: North America, U.S, Europe, Asia

☆ Blue Apron stock surges 130% on news it is being sold
▼ + stars: | 2023-09-29 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +1 min

New York CNN —Blue Apron shares soared more than 130% Friday after the once-hot meal kit delivery service announced it was being acquired. Wonder Group, a food delivery startup led by former Walmart and Jet executive Marc Lore, is buying Blue Apron in a deal that gives shareholders $13 per share, valuing Blue Apron at $103 million — a far cry from its $2 billion valuation just six years ago. Since Blue Apron went public in 2017, its fortunes have dwindled with a number of problems, including layoffs, failing to grow its customer base and competition from larger companies, such as Amazon and Kroger. The Blue Apron (APRN) name will continue to be used following the close of the transaction. In June, Blue Apron sold its assets, such as its fulfillment centers, to fellow meal company FreshRealm, giving it a $50 million cash infusion.

Persons: Marc Lore, Wonder Organizations: New, New York CNN, Wonder, Walmart, Jet, Kroger Locations: New York, “

☆ Stocks making the biggest moves before the bell: Nike, Blue Apron, Bumble and more
▼ + stars: | 2023-09-29 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines in premarket trading. Nike — The sneaker behemoth added nearly 10% in premarket trading after a mixed earnings report. Brinker International — The Chili's parent climbed 4% after Stifel upgraded the stock to buy from hold. Editas Medicine — The genome editing company popped 9% in premarket trading following a Stifel upgrade to buy from hold. Ball — Shares added 1.7% in premarket trading after the aluminum-can maker was upgraded by Jeffries to buy from hold.

Persons: Brinker, Stifel, Jeffries, —, Northcoast, CNBC's Brian Evans, Pia Singh, Jesse Pound, Michelle Fox Organizations: Nike, Opry, LSEG, Uranium Energy, Wonder Group, Anheuser, Busch InBev —, Bank of America, Stifel, KFC, Research Locations: Nashville , Tennessee, Olive

☆ Stocks making the biggest moves midday: Tesla, Nike, Carnival, Nvidia and more
▼ + stars: | 2023-09-29 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Tesla — Stock in the electric vehicle company added 1.5% in midday trading Friday. Canaccord Genuity reiterated a buy rating on the EV stock on Thursday ahead of vehicle deliveries data. Elsewhere, Citi remained neutral on Tesla and reduced its vehicle delivery forecast to 450,000 from 468,500. Bumble — The online dating platform added 3% after Loop Capital Markets upgraded the stock to buy from hold. Corcept Therapeutics — Shares slumped 17% in midday trading as the firm contends with ongoing litigation against Teva Pharmaceuticals.

Persons: Elon Musk, Canaccord Genuity, Tim Wentworth, Roz Brewer, Bumble —, Cushing, Teva, — CNBC's Pia Singh, Alex Harring, Michelle Fox, Hakyung Kim, Darla Mercado Organizations: U.S, Senate, Intelligence, Capitol, Washington , D.C, Citi, Barclays, Anheuser, Busch InBev — U.S, LSEG, Cruise, Wonder Group, Nvidia —, Blackwell, Nvidia, Nike —, Nike, Walgreens, Bloomberg, Therapeutics, Teva Pharmaceuticals, Texas, Northcoast Research Locations: Washington ,

☆ Food Delivery Startup Wonder Scraps Food Truck Strategy
▼ + stars: | 2023-01-10 | by ( Sarah Nassauer | ) www.wsj.com time to read: 1 min

Marc Lore, founder and chief executive of Wonder Group, said customer experience would be heightened under the new plan. Food-delivery startup Wonder Group is laying off staff and scrapping its plans to roll out a nationwide fleet of food trucks, shifting to a more conventional and less expensive restaurant delivery model. The shift is a significant change for the four-year-old startup, which currently cooks food with a fleet of around 500 food trucks that deliver to households in the New Jersey and New York suburbs. The company has raised $900 million in venture capital and was valued at around $3.5 billion last year.

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