Gousto on track for record profits despite cost-of-living crisis
Gousto is on track to post record profits this year despite record food inflation and the cost-of-living crisis, the meal kit box subscription business said.
Reporting that it returned to profit in the first half of 2023, Gousto said it was on course to post full-year profits of £20m-plus and positive cash flow generation, having managed food inflation impact “through the use of automation and AI”.
Founder and chief executive Timo Boldt said: “Since launching Gousto in 2012 food price inflation averaged less than 1.5%, but within months of the Ukraine war we had to manage sustained double-digit growth in food costs, with many individual ingredients hitting record levels.”
Subscription content
Please sign in now if you have a subscription or are already registered with us.
Register for free to continue reading
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
- Two free article views per calendar month on Retail-Week.com
- Detailed analysis of current trends and events
- Exclusive newsletters
- In-depth reports, videos, interviews and much more
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few moments before your account is updated.