Meal kit company HelloFresh Group delivered an early treat to investors, saying sales and profits were running significantly ahead of heightened expectations its recently completed fiscal third quarter and the start to its fourth.
The Berlin, Germany-based company cited “more favorable seasonality” than expected in revising its sales forecast for the fiscal year, now saying it anticipated it will report total sales of between 968 million and 972 million Euros (about $1.2 billion) for the third quarter, with currency-adjusted fiscal-year sales growth projections now at 95% to 105%, vs. a previously stated range of 75% to 95%.
HelloFresh had already raised its yearly sales growth expectations when it reported its second quarter financials in August. Precise figures and additional details on its third quarter results are expected on Nov. 3.
Hello Fresh operates both in the U.S. and internationally (specifically in Australia, Austria, Belgium, Canada, Denmark, Germany, Luxembourg, France, the Netherlands, New Zealand, Sweden, Switzerland and the UK), and breaks down results in quarterly reports between the two divisions. Through the first half of the year, revenue was up by 99.2% in the U.S. and by 115.1% Internationally, sparked by new markets and by the COVID-19 pandemic, which drove new shoppers to seek online solutions including around 700,00 new shoppers in the second quarter alone
Based on preliminary indications, the company also said its adjusted EBITDA would also “significantly exceed” current market expectation.
Earlier this month, HelloFresh updated its logo, rendering the brand name in bold new wordmark, alongside an update of its customary lime icon, upon which its previous wordmark was rendered in script and and capital letters.
In a blog post, the company said the new logo represented changes over its first nine years resulting in improved service and offerings.
The new logo also appears to be more recognizable in digital activation, like menu bars and app icons, although the company made no specific note of those aspects in its announcement.
“For the last nine years, we have been delivering carefully curated recipes and fresh ingredients to homes across the globe as we strive to change the way people eat forever. During this time, we have developed and improved our offering by adding new meals to our weekly menu. This has allowed us to provide our customers with a better service and offer them even more inspiring, convenient and sustainable solutions for dinner at home.
“Now that we’re active in 14 markets, our brand has evolved while still staying true to its core values. To reflect the HelloFresh of today, we have refreshed our brand with a new look.”
The new logo is being rolled across channels and materials now.
“We hope everybody, especially our loyal customers, will like the new look just as much as we do,” the post concluded.