After a surge during the pandemic, the business of grocery delivery has gone a little bit rotten in the past two years, from rapid delivery shutdowns to meal-kit company layoffs, but AI-powered grocery delivery company Hungryroot has managed to remain fresh—and even profitable.

Last year was a “pivotal” one for the company, founder, chair, and CEO Ben McKean told Retail Brew. The company secured $333 million in revenue for the full year, up 40% YoY, and made over $9 million in profit—a somewhat rare feat in the grocery and meal delivery business.

Hungryroot began in 2015 as an e-commerce CPG company offering its own food products. In 2019, it made what McKean called a “key pivot” to an AI-driven model to become a grocery and recipe service, adding third-party brands. Hungryroot customers fill out an onboarding quiz regarding factors like health objectives and dietary restrictions, and the company fills out a shopping cart for them each week tailored to different recipes, with both name-brand and private-label items that they can then edit.

The company has found success by doing things a little bit differently than others in the category, and McKean broke down a few strategies that have led to its success.

Keep reading here.—EC

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The luxury industry has been in a lull of late—at least the big players like Kering, which reported a 6% slump in its Q4 revenue.

It was an improvement on the 8% quarterly revenue drop analysts had expected for the French luxury conglomerate.

Meanwhile, sales for Gucci, Bottega Veneta, and Yves Saint Laurent—all under the Kering umbrella—were down 8% YoY.

The losses were somewhat mitigated by the retailer’s improved sales across the Asia-Pacific region, but Kering noted that its recurring operating income would likely decline in H1 2024.

Chairman and CEO François-Henri Pinault also said he was focused on “revitalizing” brands like Gucci.

Keep reading here.—JS

For all the football fans, now that you're not preoccupied on Mondays doomscrolling through hot takes on your team, we should have your undivided attention. Here’s what’s going on in retail this week.

In earnings: Shopify reports earnings tomorrow and the company is, to quote the meme, locked in. Wall Street expects to see strong Q4 results, following a Q3 that saw Shopify’s revenue spike 25% YoY to $1.7 billion.

In new hires: Today marks the start of Anca Marola’s tenure as Sephora’s global chief digital officer. Marola’s responsibilities include building the company’s data strategy and improving the omnichannel experience for Sephora’s customers.

E-commerce pet retailer Chewy is bringing on David Reeder as its new chief financial officer, starting Wednesday.

+1: We didn’t forget that Wednesday is also one of the largest consumer holidays on the calendar.

Keep reading here.—KM

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