BUZZ-Instacart falls, day after Amazon grocery delivery plan news

Reuters

1 hour ago

BUZZ-Instacart falls, day after <a href="https://laohu8.com/S/AMZN">Amazon</a> grocery delivery plan news

** Shares of Instacart CART.O are down 3.8% on Tues, with Amazon.com AMZN.O late on Monday saying it is testing ultra-fast delivery of household essentials and fresh groceries in parts of Seattle and Philadelphia

** Amazon said in a blog that the service will deliver items in about 30 minutes or less

** Also on Tues, Instacart sued New York City to block enforcement of five laws affecting the grocery delivery company, including rules governing minimum pay for app-based workers and disclosures to customers about tipping

** In November, Instacart beat analyst expectations for Q3 gross transaction value and core profit, helped by steady demand for essentials on its online grocery delivery platform and higher rev from advertising

** CART shares are down 0.7% YTD compared with a roughly 21% gain in the Nasdaq .IXIC in that period

(Reporting by Caroline Valetkevitch)

((caroline.valetkevitch@thomsonreuters.com))

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04:17</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html xmlns=\"http://www.w3.org/1999/xhtml\"><head><title>BUZZ-Instacart falls, day after <a href=\"https://laohu8.com/S/AMZN\">Amazon</a> grocery delivery plan news</title></head><body><p>** Shares of Instacart <span>CART.O</span> are down 3.8% on Tues, with Amazon.com <span>AMZN.O</span> late on Monday saying it is testing ultra-fast delivery of household essentials and fresh groceries in parts of Seattle and Philadelphia</p><p>** Amazon <span>said in a blog</span> that the service will deliver items in about 30 minutes or less</p><p>** Also on Tues, Instacart<span> sued New York City</span> to block enforcement of five laws affecting the grocery delivery company, including rules governing minimum pay for app-based workers and disclosures to customers about tipping</p><p>** In November, Instacart <span>beat analyst</span> expectations for Q3 gross transaction value and core profit, helped by steady demand for essentials on 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