USA: Webvan to pull out from Atlanta, hopes to retain investor interest
Following on from the recent announcement that its Sacramento operations would be closing, grocery e-tailer Webvan today unveiled a set of major restructure plans; a bid to keep the flagging company afloat as cash resources dwindle. First quarter sales at the grocery home-delivery site fell short of Wall Street analysts' expectations for the Q1 of this financial year, largely the result of a net loss that had doubled after extra charges and restructuring costs.
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