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News item on SQ from yesterday. Please scroll. Tlsmd

Square stock gains after company announces restaurant-delivery acquisition
22 hours 24 minutes ago - DJNF
Square Inc. (SQ) shares rose 1.3% in premarket trading Thursday after the company said that it had acquired assets from Entrees On-Trays, a restaurant-delivery service with a presence in the Dallas area. Square said the Entrees On-Trays works with "dozens of the region's most popular restaurants," including Chick-fil-A. Signing on chain restaurants is considered by analysts to be a key growth catalyst for restaurant-delivery firms, as Mizuho's Jeremy Scott wrote (http://www.marketwatch.com/story/grubhub-to-benefit-from-delivery-interest-among-big-restaurant-chains-analyst-2018-01-25) in a note about GrubHub Inc. (GRUB) late Wednesday. The Entrees On-Trays acquisition is expected to help Square enhance its Caviar food-delivery offering, which is housed within the company's rapidly growing subscription and services segment. The company hopes to generate traction for the Caviar platform in Dallas by working with some restaurants there to offer "secret off-menu" items that can only be purchased through Caviar. A price for the Entrees On-Trays deal wasn't disclosed. Square shares are up 204% over the past 12 months, while the S&P 500 has gained 23%.
-Emily Bary; 415-439-6400; [e-mail]

(END) Dow Jones Newswires

January 25, 2018 09:18 ET (14:18 GMT)

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