Running on negative free cash flow, Blue Apron said then that it was considering different alternatives, including selling the company or taking it private. The company has been trimming its marketing and other costs to narrow its losses and said in February that it was closing its Arlington, Texas, fulfillment center and cutting about 240 jobs. Amazon’s meal-kit service catapulted to become the third-most-popular, cited by 18% of consumers.īefore the recent rally, Blue Apron had been on a death watch of sorts as its shares had plunged to $2 in late February-from $150 following its IPO in June 2017-after it reported another year of losses and declines in sales and customers. The survey found HelloFresh was used by 23% of meal-kit subscribers, followed by Blue Apron at 19%. consumers this month found that 65% of meal-kit subscribers have canceled their subscriptions.īlue Apron is also contending in an increasingly crowded market and has lost its once-market-leading position. However, the big question for Blue Apron is how long its rally-and that of the broader meat-kit sector-holds.
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