Instacart Forecasts Weak Fourth-Quarter on Tepid Consumer Spend
Instacart on Tuesday forecast current-quarter gross transaction value (GTV) and core profit below estimates, in signs that spending on online grocery and food deliveries on its platform could temper in the holiday season.
Competition has picked up in the online delivery space, building on a pandemic boom that allowed firms such as Instacart, UberEats and DoorDash to diversify their product offerings and raise transaction fees.
However, spending has cooled as household budgets buckle under pressure from higher prices.
Intacart, which also offers same-day deliver...
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