Latest news with #Vancouver-based
CNBC
9 hours ago
- Business
- CNBC
Under-the-radar delivery apps are gaining ground in the U.S. by courting Asian restaurants
NEW YORK – When Kelly Wu feels sick and wants a delivery of congee, the Chinese porridge she grew up eating, she opts for a platform many may not have heard of. The New York City resident doesn't open apps from multi-billion dollar companies like Uber Eats or DoorDash. Instead, the 22-year-old pulls up Fantuan, a growing Vancouver-based startup that focuses specifically on the ecosystem surrounding Asian cuisines. "I feel like it's just the equivalent of 'Asian' DoorDash or Uber Eats," Wu said in an interview with CNBC. Digital food ordering and delivery platforms have become ingrained in everyday American life over the past decade, with companies like Uber Eats, DoorDash and GrubHub becoming household names. But when it comes to Asian food, connoisseurs like Wu and restaurant owners are opting for smaller platforms like Fantuan or competitor HungryPanda. Fantuan's strategy looks different than that of bigger food platforms given its focus on Asian businesses, according to co-founder Yaofei Feng. The 11-year-old company sends representatives to talk to store owners in person about getting on the platform rather than trying to reach them online, Feng said. These conversations will often take place in Chinese, given that he said many of these entrepreneurs speak English as a second language. "The way we gain their trust is very unique," Feng said. Having options besides English for the app is appealing for business owners who find it easier to communicate in their first language. The app design is also more reminiscent of Chinese platforms like Alibaba than American alternatives, Feng said, which can provide a sense of familiarity. Since Fantuan first entered the U.S. in 2019, Feng said it has expanded to more than 50 cities ranging from large metropolises such as Los Angeles to college towns like Davis, Calif. The company's U.S. footprint was boosted by its acquisition of Chowbus' delivery business last year. Rather than run large advertising campaigns, Fantuan mainly spreads the word through providing sign holders at storefronts and stickers for delivery drivers. The startup has also worked with influencers on platforms like TikTok and RedNote, a popular short-form video app in China. Feng said Fantuan's main customer bases are first-generation immigrants and international students craving authentic cuisines tied to their home countries. He said the company meets with college student associations to find potential customers coming to the U.S. from Asia. But Feng said there's potential for the app to reach a wider audience as foods including bubble tea become mainstream in the U.S. The company said it saw a growth rate for gross merchandise value of more than 20% in the U.S. last year, before shooting up to 31% in the first quarter of 2025. "With the immigration and the social media, everybody loves Asian food," Feng said. "If they want authentic options, they will also use the app." Following the Chowbus acquisition, many business owners and users consider HungryPanda as the main competitor to Fantuan. Wu said she also has HungryPanda's app, but hasn't ordered on it since she first began using Fantuan, and has been pleased with the service. HungryPanda did not respond to CNBC's interview inquiry for this story. HungryPanda announced last year that it raised $55 million, which will be used in part to fuel expansion efforts in North America. When it comes to the broader food delivery app landscape, Feng said he sees the company "co-existing" alongside bigger-name companies rather than "competing." That's because the draw of Fantuan is connecting authentic – and often smaller – businesses to customers instead of trying to win over large chains that already use other platforms. "It's very hard ... long-term, to compete with the monopolies," he said. "But we want to keep our unique way." In Flushing, a neighborhood of New York City's Queens borough known for its large population of Chinese-Americans, Andrew Chau sees first-hand how the customer base has taken to Fantuan. Chau said his outpost of Yomie's Rice x Yogurt sees around 50 orders each day on the platform. By comparison, Chau said he's lucky to get one order every few days on apps like Uber Eats or DoorDash. Chau likes that the app offers users promotions and that he can communicate with customer service through WeChat, a popular messaging platform in China. He also said many restaurants nearby use the platform, as evidenced by companies having Fantuan logos around their businesses. In Flushing, "I can see lots of Fantuan logo[s]," said Chau, who owns five stores in the New York City area. "I cannot see lots of Uber Eats or DoorDash." Wu also said she sees the logo regularly around areas with high rates of Asian businesses like Flushing or Manhattan's well-known Chinatown neighborhood. She's also seen the delivery drivers out wearing merchandise for both Fantuan and HungryPanda. For Wu, the authenticity of restaurants on Fantuan is better than other more prominent food delivery platforms. She also believes that reviews on Fantuan to be more trustworthy. "I can find dishes that I can't find on American food ordering apps," Wu said. "I feel like it's definitely the way to go if I'm looking for a traditional Chinese meal, rather than using Uber Eats or DoorDash to get something like orange chicken."
The Province
12 hours ago
- Entertainment
- The Province
Here are the 10 best concerts in Vancouver in June
From Peach Pit to the 5X Block Party and Jazz fest, June is jumping in B.C. Peach Pit performs during the Juno Awards, in Vancouver, March 30, 2025. Photo by ETHAN CAIRNS THE CANADIAN PRES / THE CANADIAN PRESS Reviews and recommendations are unbiased and products are independently selected. Postmedia may earn an affiliate commission from purchases made through links on this page. From the album release of Vancouver psychedelic cumbia crew Empanadas Illegales to Surrey's massive 5X Block Party and the Vancouver International Jazz Festival, June is rocking in the summer sounds. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Exclusive articles by top sports columnists Patrick Johnston, Ben Kuzma, J.J. Abrams and others. Plus, Canucks Report, Sports and Headline News newsletters and events. Unlimited online access to The Province and 15 news sites with one account. The Province ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles and comics, including the New York Times Crossword. Support local journalism. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Exclusive articles by top sports columnists Patrick Johnston, Ben Kuzma, J.J. Abrams and others. Plus, Canucks Report, Sports and Headline News newsletters and events. Unlimited online access to The Province and 15 news sites with one account. The Province ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles and comics, including the New York Times Crossword. Support local journalism. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Here are 10 can't-miss concerts coming in the next month. Vancouver-based psychedelic Latinx groove band Empanadas Illegales Photo by Las Empanadas Illegales Empanadas Illegales: Sancocho Trifásico album release When: June 6, 8 p.m. Where: Hollywood Theatre, 3123 W. Broadway Tickets and info: Get ready for an evening of dance-a-rrific electric sounds from psychedelic cumbia maestros Empanadas Illegales. The local crew combines cumbia and salsa sounds with trippy surf style guitar licks and plenty of shout outs in its non-stop show. This advertisement has not loaded yet, but your article continues below. Peach Pit arrives for the 2025 Juno Awards in Vancouver on Sunday, March 30, 2025. Photo by Richard Lam / PNG Peach Pit and Briston Maroney: Long Hair, Long Life Tour When: June 6, 6 p.m. Where: Deer Lake Park, Burnaby. Tickets and info: Vancouver rockers Peach Pit dropped its latest album Magpie on Columbia Records, performed a killer version of the title track at the 2025 Juno Awards in Vancouver and just seem to be hitting all the right notes with fans. Folk rocker Briston Maroney is a fine foil for this double-bill tour. Essential reading for hockey fans who eat, sleep, Canucks, repeat. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. Malcolm Todd: The Wholesome Rockstar Tour When: June 7, 7 p.m. Where: Vogue Theatre Tickets and info: Barely into his 20s, singer Malcolm Todd racked up millions of listens for songs such as Roommates and Bleed, quickly establishing himself as a rising star in contemporary pop music. The Los Angeles-born artist is generating quite a buzz for his intense and intimate concerts. Art d'Ecco is a Vancouver Island-based rock artist Art d'Ecco and His Demon Band When: June 12, 8 p.m. Where: The Fox Cabaret, 2321 Main St. Tickets and info: With every release, Vancouver Island glam rocker Art d'Ecco seems to change and find even finer musical points to make. His fourth album, Serene Demon, might be his best work yet. Expect stylish, slick and stick-in-your-head tunes with classic hooks. This advertisement has not loaded yet, but your article continues below. GMINXR plays the 5X Block Party GMINXR 5X Fest 2025 When: June 12-14, various times Where: Various venues Tickets and info: The 8th annual 5X Fest celebrating South Asian youth culture includes signature events such as the 5X Art Party, big 5X Block Party with performers including GMINXR, Talwinder, Panjabi Hit Squad and many others, and the 5X Afterparty too. Check the website for all of the events taking place. This advertisement has not loaded yet, but your article continues below. Canadian artist Mae Martin performs at Vogue Theatre (Arin Sang-urai photo) Mae Martin When: June 13, 7 p.m. Where: Vogue Theatre, 918 Granville Tickets and info: Who says you can only be talented in one area of the arts? Certainly not Mae Martin who has a proven track record as a stand-up comic, actor, podcaster, producer and, most recently, singer. The BAFTA-winning Ontario performer recently released their debut album, I'm A TV, in 2025. This advertisement has not loaded yet, but your article continues below. Bill Frisell performs at the Vancouver jazz festival. (Paul Moore Ottawa Citizen) Vancouver International Jazz Festival When: June 20-July 1, various times Where: Various venues Tickets and info: With shows ranging from guitar genius Bill Frisell and his trio to rising star Nubya Garcia, local greats and much more, the annual jazz festival is one of the biggest festivals in B.C. With a fantastic mix of ticketed and free events, you can plan a varied and awesome listening experience. OK GO famous music video for Here It Goes. OK Go: And the Adjacent Possible Tour When: June 21 (Sold out) and June 22, 8 p.m. Where: Commodore Ballroom, 868 Granville St. Tickets and info: Grammy-winning American rock band OK Go has built a devoted fanbase with its hooky tunes and acclaimed videos. The band's latest album And the Adjacent Possible was preceded by the new single A Stone Only Rolls Downhill with, you guessed it, a very smart and creative video. This advertisement has not loaded yet, but your article continues below. This advertisement has not loaded yet, but your article continues below. Steven Page performs with the VSO. Photo courtesy DAVID BERGMAN/ Steven Page with the VSO When: June 21, 8 p.m. Where: Orpheum Theatre, 601 Smithe Tickets and info: Singing songs from across his career, singer Steven Page and music director, cellist and vocalist Kevin Fox will be joined by the Vancouver Symphony Orchestra for a 90-minute program of classics and deep cuts from the artist. Kelowna hard rock trio Freeze the Frame are L-R Quinn Mitzel, Jonah Goncalvez and Aria Becker Photo by Alexis Feist Photography Alex / Alexis Feist Photography Freeze the Fall — The Red Garden Release Party When: June 27, 7 p.m. Where: The Fox Cabaret, 2321 Main St. Tickets and info: Okanagan high school hard rock trio Freeze the Fall has a new album out titled the Red Garden Party. The band just keeps homing in on its technical metal sound as heard on the new single Oubliette. It's no surprise that this group is gaining global attention for its music. This advertisement has not loaded yet, but your article continues below. sderdeyn@ Read More BC Lions Vancouver Whitecaps Vancouver Canucks News News
Winnipeg Free Press
14 hours ago
- Entertainment
- Winnipeg Free Press
Influencer culture pilloried in prose
Part mystery, part satire and even part horror, second-generation Chinese-Canadian writer Liann Zhang's debut novel is a bizarre but entertaining look at the world of social media influencer culture. Julie Chan is a supermarket cashier with no friends who steals food from work to keep herself fed. One day, she receives a disturbing phone call from her estranged twin sister, Chloe, a rich influencer with followers in the millions. Sensing something is wrong, Julie travels to Chloe's New York City penthouse and finds her sister dead on the floor. As she's about to report the death to the police, Julie quickly makes the rash decision to switch places, ditching her sad, anonymous life for her twin's more comfortable and glamorous one. Julie Chan is Dead With unwitting help from Chloe's manager, Julie seamlessly continues her sister's social media life, interacting with fans, receiving lavish gifts and going to trendy parties. At first, no one in Chloe's world suspects the truth, and everyone writes off any strange behaviour as her just being '#sad' and '#grieving.' But it doesn't take long for her aunt and cousin to figure out what's going on, and Julie soon finds herself being blackmailed. In order to pay off her scheming family members, she becomes a lot more obvious with paid endorsements on her channels, while watching her numbers drop on each platform. Thankfully, Julie has her new influencer friends to cheer her up. A group of mostly indistinguishable twentysomething white women, the Belladonnas are led by Bella Marie, whose level of fame and wealth seems almost unattainable for a social media personality. But, of course, Julie soon learns her new friends may be hiding some sinister secrets. Toronto- and Vancouver-based Zhang was only 16 when she had her own brush with internet fame, gaining over 20,000 followers on a skincare-themed Instagram account. The author, who now has a degree in psychology and criminology, says this book was inspired by the fellow influencers she met through group chats. Clearly she has some strong, negative feelings from this experience, as most characters are quite unlikable — even Julie, who quickly embraces her new personality. Zhang takes some fun shots at influencer culture, and that cynical humour drives the first half of the novel. But it does get dragged down by some very predictable turns. Then a huge twist comes that makes the second half seem like a different book altogether. It quickly delves into cult-horror territory — think Rosemary's Baby or The Wicker Man but with trite self-help affirmations and beauty tips. The shift may be a bit jarring for some readers, but Zhang's cutting humour is amped up, along with the overall pace, which all leads to a ridiculous, over-the-top finale. While it has some flaws, Julie Chan is Dead is a fun, memorable debut. Hardly an influencer, Alan MacKenzie is struggling to find 600 subscribers for his YouTube channel.
Yahoo
a day ago
- Business
- Yahoo
lululemon Q1 Outlook Reflects Measured Optimism: Buy Before Earnings?
lululemon athletica inc. LULU is likely to witness top and bottom-line growth when it reports first-quarter fiscal 2025 results on June 5, after market close. The Zacks Consensus Estimate for fiscal first-quarter sales is pegged at $2.35 billion, indicating a 6.6% increase from the year-ago quarter's reported consensus estimate for the company's fiscal fourth-quarter earnings is pegged at $2.58 per share, suggesting 1.6% growth from the year-ago quarter's actual. Earnings estimates have been unchanged in the past 30 days. (See the Zacks Earnings Calendar to stay ahead of market-making news.)The Vancouver-based company has been reporting steady earnings outcomes, as evident from its top and bottom-line surprise trends in the trailing four quarters. lululemon has a trailing four-quarter earnings surprise of 6.6%, on average. Given its positive record, the question is, can LULU maintain the momentum? Our proven model conclusively predicts an earnings beat for LULU this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP has an Earnings ESP of +1.82% and a Zacks Rank of 3. You can see the complete list of today's Zacks #1 Rank stocks here. lululemon is expected to have continued its business momentum in the first quarter of fiscal 2025, showcasing growth across various channels, regions and product categories. This growth is likely to have been driven by positive consumer response to its products, increased in-store traffic and a robust online is also poised to benefit from the strong business momentum in its international markets, including Mainland China and the Rest of the World, as the brand connects well with customers globally. The company has been on a growth trajectory with its Power of Three x2 growth plan, focusing on product innovation, guest experience and market expansion. Initiatives like community-based events and brand campaigns have been crucial for increasing brand awareness, attracting customers and strengthening brand loyalty. These efforts are expected to have aided the company's fiscal first-quarter the last reported quarter's earnings call, management expressed confidence in the ongoing strength of its international business, particularly in Mainland China. Our model predicts international revenues to increase 2.3% year over year for first-quarter fiscal lululemon has been facing challenges from the inflationary environment and higher interest rates, leading to soft discretionary spending, and struggles in the women's category, collectively affecting the Americas business. Despite strong engagement with new products, LULU continues to face headwinds in driving consistent footfall and sales growth in its largest market, underscoring the need for stronger momentum and recovery in North America. lululemon athletica inc. price-eps-surprise | lululemon athletica inc. Quote Looming concerns over the ongoing tariff dynamics are expected to have particularly weighed on the company's margins in the to-be-reported quarter due to elevated costs. On the last reported quarter's earnings call, management remained skeptical about the effects of the rising tariffs on imports from Mexico and China, and adverse currency rates. The company expected these tariffs to result in higher costs in the first quarter of fiscal 2025 and the first quarter of fiscal 2025, LULU expects the gross margin to be flat year over year, as a modest improvement in the product margin is expected to be offset by deleverage on fixed costs. Markdowns are expected to be relatively flat with the prior-year quarter. SG&A, as a percentage of sales, is expected to deleverage 120 bps year over year, driven by higher foundational investments and associated depreciation, as well as strategic initiatives to enhance brand awareness and support growth. The operating margin for the fiscal first quarter is expected to decline 120 bps year over model predicts the adjusted gross margin to contract 50 bps year over year to 57.2% in the fiscal first quarter, with an 80-bps decline in the adjusted operating margin to 18.8%.The company expects EPS for the fiscal first quarter to be $2.53-$2.58, whereas it reported EPS of $2.54 in the prior-year quarter. EPS is expected to include a negative currency impact of 6 cents per share. lululemon's shares have exhibited a downtrend in the past three months, losing 8.9% compared with the industry's plunge of 6.9%. Meanwhile, the company has underperformed the Zacks Consumer Discretionary sector and the S&P 500's growth of 1.6% and 0.5%, respectively. Image Source: Zacks Investment Research Despite the fall, the lululemon stock has outperformed industry peer V.F. Corp's VFC dip of 47.2% in the past three months. However, the LULU stock has underperformed G-III Apparel GIII and Guess GES, which have rallied 6.7% and 15%, respectively, in the past three its current price of $317.09, the LULU stock trades 40.3% above its 52-week low of $226.01. Moreover, lululemon's current stock price stands 25.1% below its 52-week high of $ the valuation standpoint, the company trades at a forward 12-month P/E multiple of 20.74X, exceeding the industry average of 12.72X. Image Source: Zacks Investment Research The premium valuation suggests that investors have strong expectations for lululemon's future performance and growth potential. However, the stock currently seems somewhat overvalued. As a result, investors may be hesitant to buy at these elevated levels and prefer to wait for a more favorable entry point. lululemon is currently navigating a range of notable challenges. Elevated inflation and higher interest rates are dampening consumer spending, particularly in the discretionary category, making shoppers more selective. These macroeconomic pressures have created headwinds for luxury retail brands, especially across the Americas. Additionally, the tariff environment remains a these challenges, LULU is seeing momentum from its Power of Three ×2 growth strategy, which targets a doubling of net revenues to $12.5 billion by 2026, suggesting a rise from the $6.25 billion registered in 2021. The strategy emphasizes growth in underpenetrated international markets and expansion within the men's apparel markets, especially China, present a significant growth opportunity for lululemon. The company is aiming to quadruple its international revenues over time, with a long-term goal of generating nearly 50% of total sales from these markets. In parallel with its physical retail expansion, lululemon is also leveraging its digital capabilities to enhance customer engagement and drive global sales. No matter how the lululemon stock reacts to its first-quarter fiscal 2025 results, the company's long-term growth story remains intact, fueled by consistent product innovation, rising global demand, and effective execution of its Power of Three ×2 strategy. While near-term headwinds such as inflation, higher interest rates, tariff uncertainties and softness in the women's category in the Americas may weigh on margins and performance, these challenges appear to be cyclical rather than its core, LULU remains a fundamentally strong business with solid profitability and a forward-thinking strategy. Though the stock's current valuation may prompt some investors to wait for a more attractive entry point, long-term holders can remain confident. If you already own the LULU stock, staying the course could prove rewarding, as the company's strategic initiatives and international growth are poised to drive sustained value over time. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report V.F. Corporation (VFC) : Free Stock Analysis Report Guess?, Inc. (GES) : Free Stock Analysis Report lululemon athletica inc. (LULU) : Free Stock Analysis Report G-III Apparel Group, LTD. (GIII) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a day ago
- Business
- Yahoo
Group Eleven Announces Appointment of Jasmine Lau as Chief Financial Officer
Vancouver, British Columbia--(Newsfile Corp. - May 30, 2025) - Group Eleven Resources Corp. (TSXV: ZNG) (OTCQB: GRLVF) (FSE: 3GE) ("Group Eleven" or the "Company") is pleased to announce the appointment of Jasmine Lau, CPA, as Chief Financial Officer ("CFO") of Group Eleven, replacing Jeannine Webb, effective May 30, 2025. Jasmine is a Vancouver-based Chartered Professional Accountant with over 16 years' experience in the resource sector, having served as the Chief Financial Officer for several mineral exploration companies. She is currently the CFO of Minaurum Gold Inc, Forte Minerals Corp., and Cascadia Minerals Ltd. Prior to that, Jasmine also served as CFO to a various number of other private and public mineral exploration companies. "On behalf of Group Eleven and its Board of Directors, I am very pleased to welcome Jasmine to the team," stated Bart Jaworski, CEO. "Jasmine's appointment brings a wealth of relevant experience and skills to the Company. I would also like to sincerely thank Jeannine Webb for her valuable contributions and dedication to the Company over the past three years." About Group Eleven Resources Group Eleven Resources Corp. (TSXV: ZNG) (OTCQB: GRLVF) (FSE: 3GE) is a mineral exploration company focused on advanced stage zinc exploration in Ireland. Additional information about the Company is available at ON BEHALF OF THE BOARD OF DIRECTORSBart Jaworski, Executive Officer E: | T: +353-85-833-2463 Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Note Regarding Forward-Looking Information This press release contains forward-looking statements within the meaning of applicable securities legislation. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/ reserves and geological interpretations. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located. All of the Company's public disclosure filings may be accessed via and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties. To view the source version of this press release, please visit Sign in to access your portfolio
