Companies to Watch: Blue Apron has mixed quarter, Take-Two boosts outlook, Shake Shack and Grubhub reach deal
Here are the companies Yahoo Finance is watching today.
A mixed quarter at Blue Apron (APRN). The meal-kit company reported a loss that was smaller than many expected, but revenue was still far below estimates. The number of customers signed up for Blue Apron has fallen by more than 250,000 since last year.
A big quarter at the company behind “NBA 2K20,” “Grand Theft Auto,” and other video big games. Take Two Interactive (TTWO) posted stronger-than-expected earnings and boosted its full-year outlook. The company admits maintaining huge growth will be challenging, but says it’s getting a big tailwind from the sheer number of people now playing video games.
It's going to be a lot easier to get your hand on burgers from Shake Shack (SHAK). The restaurant chain has cut a deal with Grubhub (GRUB) to start offering delivery. It also posted an earnings and revenue beat last quarter and raised its forecast for the year. The CEO credited strong digital sales.
There’s been a C-suite shake-up at L Brands (LB). Edward Razek, L Brands chief marketing officer, is retiring after a nearly 36-year run. Razek was in charge of choosing Victoria’s Secrets “Angels” and was vital in pushing the overtly sexualized brand image that is now largely seen as outdated. He also faced controversy last year after saying he didn’t think Victoria’s Secret should hire transgender models.
Another iconic retailer has filed for bankruptcy. Barneys has filed for Chapter 11 protection as it sinks under high real estate costs. However, the high-end luxury retailer will continue to operate its five flagship locations in New York, Los Angeles, San Francisco, and Boston as well as Barneys.com. The 96-year-old retailer has also secured $75 million to help it meet its financial commitments and sell some assets.
