Retail

GrubHub not a warning sign on food delivery

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GrubHub’s terrible earnings and more than 40% stock plunge last week is not indicative of the potential of the broader food delivery business, Postmates co-founder and CEO Bastian Lehmann told CNBC on Thursday.

When asked if the catastrophe at rival GrubHub was just a GrubHub problem, Lehmann said, “100%,” adding it’s “the idea that bad management equals a bad market is a shoe that doesn’t fit the new breed of companies,” suggesting that Postmates is among them.

Lehmann told “Squawk Box” that it’s on the companies to adapt new strategies and distinguish themselves from one another as competitors, such as Uber Eats, DoorDash and Seamless, pack into the crowded food delivery industry.

“The…



Source cnbc.com

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