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MarketScreener Homepage  >  Equities  >  Xetra  >  Deutsche Post AG    DPW   DE0005552004

DEUTSCHE POST AG

(DPW)
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Deutsche Post : DHL stops deliveries for Amazon Fresh in Germany

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08/23/2019 | 03:02am EDT
FILE PHOTO: An Amazon Fresh delivery truck sits parked outside an Amazon Fulfillment Center on Cyber Monday in Tracy

(The August 21 story, corrects to read "the market for food ecommerce" in paragraph 1.)

BERLIN (Reuters) - Deutsche Post DHL will no longer deliver fresh food in Germany for Amazon as the market for food ecommerce has been disappointing, a spokeswoman said on Wednesday.

Selling food is a key part of the strategy of the world's top online retailer, especially since it bought the U.S. chain Whole Foods in 2017, but its Fresh service, launched in 2007 in Seattle, has grown much slower than the rest of the business.

A spokeswoman confirmed a report in Germany's Lebensmittel Zeitung trade publication that DHL was ending its cooperation with Amazon Fresh, launched in Germany in 2017, adding the rest of its business with Amazon was unaffected.

"The market for online ordered fresh food has been far behind expectations to date. Due to this reason and the complexity of the whole process, we have significantly reduced our activities in this area," she said.

An Amazon spokesman declined to comment, beyond saying that the Fresh service had received positive feedback in Germany, Amazon's second biggest market outside of the United States.

Online sales of food have grown slower in Germany than in many developed markets, partly due to the high density of discount stores like Aldi and Lidl. Ecommerce only made up about 1.2% of food sales in Germany in 2018, according to the HDE retail association.

A company source said customers of Amazon Fresh would not be affected by the DHL move.

Amazon is building up its own delivery network in Germany, independent of big logistics players like Deutsche Post DHL.

Earlier this month, FedEx Corp said it would end its contract with Amazon for small-package ground deliveries, as the online retailer becomes more of a threat than a customer by expanding its own delivery network of planes, trucks and vans.

(Reporting by Matthias Inverardi; Writing by Emma Thomasson; Editing by Michelle Martin)

Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM 0.22% 1821.5 Delayed Quote.21.01%
DEUTSCHE POST AG -0.33% 30.25 Delayed Quote.26.93%
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Financials (EUR)
Sales 2019 64 205 M
EBIT 2019 4 143 M
Net income 2019 2 672 M
Debt 2019 13 579 M
Yield 2019 3,96%
P/E ratio 2019 14,2x
P/E ratio 2020 12,4x
EV / Sales2019 0,79x
EV / Sales2020 0,76x
Capitalization 37 313 M
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Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 34,38  €
Last Close Price 30,29  €
Spread / Highest target 51,9%
Spread / Average Target 13,5%
Spread / Lowest Target -16,3%
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Managers
NameTitle
Frank Appel CEO & Head-Global Business Services
Nikolaus von Bomhard Chairman-Supervisory Board
Melanie Kreis Head-Finance
Werner Gatzer Independent Member-Supervisory Board
Henning Kagermann Member-Supervisory Board
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