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UNIS:BLU, Aug 17, 03:48 UTC

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Wednesday, August 15


News

Blue Apron Still Won't Admit It Has a Retention Problem

BLU

After pulling back on marketing spending last year, Blue Apron started ramping up its advertising at the start of 2018, and most investors expected that would result in more customers. On the earnings call, CEO Brad Dickerson said the marketing efforts are doing a great job at attracting people to the Blue Apron brand, but it's having a hard time converting website visitors into paid subscribers. When asked about customer retention -- a metric Blue Apron refuses to provide investors -- Dickerson replied, "The challenge for us, we believe, is more on the acquisition side of the business, not on the retention side of the business." He added the retention rate in the second quarter was consistent with the same period last year. But it's been clear since Blue Apron's IPO that the company has a problem keeping subscribers from cancelling. Of course, not every Blue Apron cook is capable of producing restaurant-quality meals regardless of how clear the recipe is. How Blue Apron plans to improve customer acquisition. While Blue Apron might be focused on the wrong end of the sales funnel, it's worth looking at what it plans to implement to see if it addresses customers' biggest issues.

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Topics:
  • Business
  • Financial

Saturday, August 11


News

Is Blue Apron a Value Play or a Falling Knife?

BLU

Its revenue fell 25% annually to $179.6 million, missing estimates by $9 million and marking the company's steepest sales decline since its IPO. Blue Apron's net loss widened from $31.6 million to $32.8 million, but narrowed on an EPS basis from $0.47 to $0.17 thanks to an increase in outstanding shares and beat expectations by a penny. Let's examine the pros and cons from Blue Apron's report to see if investors should sell or buy this stock at an 80% discount to its IPO price. He also claimed that Blue Apron could achieve "double-digit revenue growth with breakeven adjusted EBITDA" in 2019, but didn't offer compelling ways for Blue Apron to counter its growing number of competitors in the meal kit space.

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Topics:
  • Business
  • Financial

Monday, August 06


News

Meal-Kit Provider Chef'd Closes; Is Blue Apron Next?

BLU

Meal-Kit Provider Chef'd Closes; Is Blue Apron Next? Meal kit delivery specialist Chef'd abruptly announced at the end of July that it was shutting down service after a three-year run due to "setbacks in financing." Despite successfully achieving all the things one-time industry leader Blue Apron(NYSE: APRN) was said to need to do to ensure its own survival, Chef'd was unable to raise enough cash to outpace the money it burned every month. Because the meal-kit business constantly requires finely-balanced logistics to meet consumer demand, this highlights just how formidable a task Blue Apron is facing, and suggests the future doesn't look very bright. Albertson's seemed to recognize this first with its acquisition of Plated, but soon grocers from Walmart(NYSE: WMT) to Kroger(NYSE: KR) were either launching their own meal kits or buying an existing service (Kroger, which had its own meal kits, recently snapped up the third-largest meal-kit service, Home Chef).

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Topics:
  • Business
  • Financial

Friday, August 03


News

Blue Apron’s steady decline in business, as well as its latest quarterly report, hint at a troubling trend in the meal-kit industry

BLU

Blue Apron's steady decline in business, as well as its latest quarterly report, hint at a troubling trend in the meal-kit industry. Meal-kit service Blue Apron's latest quarterly results point to a troubling trend in the industry. As this chart from Statista shows, business for the service has seen a steady decline since the beginning of 2016. Blue Apron's quarterly report also follows news of fellow service Chef'd laying off hundreds of employees and ceasing business operations. Tonya Garcia, MarketWatch retail reporter, says the meal-kit delivery service, which saw shares pop after its latest earnings report, could survive amid all the competition, but it must be a stand-out.

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Topics:
  • Business
  • Financial
News

Blue Apron to Participate in the Canaccord Genuity Growth Conference

BLU

Blue Apron to Participate in the Canaccord Genuity Growth Conference. NEW YORK--(BUSINESS WIRE)--Blue Apron Holdings, Inc. (NYSE: APRN) announced today that the Company’s Chief Executive Officer, Brad Dickerson, and Chief Financial Officer, Tim Bensley, will participate in the Canaccord Genuity Growth Conference in Boston on Thursday, August 9, 2018 at 10:00 a.m. EST. A live webcast and replay of the Canaccord session will be available on Blue Apron’s Investor Relations website at investors.blueapron.com. Launched in 2012, Blue Apron is reimagining the way that food is produced, distributed, and consumed, and as a result, building a better food system that benefits consumers, food producers, and the planet.

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  • Business
  • Entertainment
  • Science

Thursday, August 02


News

Why Blue Apron Stock Might Not Be Around for Much Longer

BLU

Meal kit maker Blue Apron (NYSE:APRN) just reported second-quarter numbers, and they were nothing short of awful. While earnings did narrowly top expectations, revenue missed expectations and dropped a whopping 25% year-over-year. Worse yet, the number of customers using Blue Apron dropped 24% year-over-year, continuing what has been a multi-quarter bleed in customers ever since the company decided to cut back on marketing spend. The longevity of this business in a very crowded space is a huge question mark. As such, I think APRN stock is in a must-avoid situation until the customer base stabilizes. Even at $2, this stock isn’t a bargain if the customer base keeps falling. Blue Apron’s second quarter report highlighted problems with Blue Apron’s customer base that have been around for several quarters now. In order to cut costs and become profitable, Blue Apron decided a few quarters back that it would be best to decrease marketing spend and focus on building a valuable business among the current user base.

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Topics:
  • Business
  • Financial
News

Blue Apron shares sink as customers ditch its meal-kits

BLU AAPL

U.S. Blue Apron shares sink as customers ditch its meal-kits. (Reuters) - Shares of Blue Apron Holdings Inc (APRN.N) slumped over 23 percent on Thursday after the meal-kit delivery company's second-quarter revenue came in below estimates as fewer customers signed up for its service. Blue Apron said its customers, or the total number of individuals who have paid for at least one order from its service, decreased 24 percent during the quarter. The independent meal-kit industry has been rattled by increasing competition not only from peers like HelloFresh (HFGG.DE), but grocers, who are selling their own ready-to-eat meals.

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  • Financial
News
News

Blue Apron Shares Tumble on Decline in Revenue, Customers

BLU

Blue Apron Inc. shares tumbled the most in eight months after the meal-kit company reported a decline in customers and projected further deterioration in revenue this year, underscoring the company’s struggle to hit its stride since last year’s initial public offering. The number of people purchasing its signature boxes of food to make home-cooked meals dropped 9 percent from the first quarter to 717,000. Blue Apron Chief Executive Officer Brad Dickerson called 2018 “a year of transition and building for the future.” Those efforts will likely not lead to any turnaround in revenue this year. On a conference call to discuss earnings, Blue Apron said it expects revenue of $150 million to $160 million in the third quarter, which would mark as much as a 24 percent decline from the year-earlier period.

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News

Blue Apron is crashing as customers ditch its meal-kit service

BLU

Blue Apron is crashing as customers ditch its meal-kit service (APRN). Blue Apron shares are crashing Thursday morning, down about 20%, after the meal-kit delivery service reported a big drop in customers. Blue Apron has struggled to retain customers as Amazon, Walmart, and other players have entered the space. The meal-kit maker reported a loss of $0.17 a share as revenue plunged 25% year-over-year of $179.6 million.

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Topics:
  • Business
  • Financial