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UNIS:BLU, May 20, 11:19 UTC

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Blue Apron Partners With Costco, but That Doesn't Make Its Stock a Buy

COST BLU

CEO Brad Dickerson said the meal kit delivery service "began to methodically reaccelerate marketing late last year" which caused its marketing spend to rise 56% from the fourth quarter to $39.3 million, even though that's 39% less than a year ago. So it picked up 40,000 more customers in the quarter at a cost of $14.1 million in extra marketing, suggesting each new member cost around $352. Sure, not every marketing dollar spent went to new customer acquisition, but it shines a light on how difficult and costly it is to get people to try meal kit delivery and explains why Blue Apron moved into the grocery store. Not many people can afford the $60 to $80 a week it would cost to have a couple of Blue Apron meals delivered, but putting meal kits in grocery stores makes it easier for customers to discover Blue Apron products, even if they aren't converted to the delivery model. Yet Blue Apron is not alone in making meal kits available in supermarkets. Shares of Blue Apron have lost nearly three quarters of their value since the IPO, and though the stock sells at just a fraction of company sales, the meal kit service hasn't proved it's capable of earning a premium. As it becomes another me-too product by moving into supermarkets, its costly legacy business is still the bulk of revenue at the moment, and there's nothing to argue it deserves a premium yet, either. However, the Costco initiative is a necessary step to experiment and grow distribution, so feel free to pick up its meal kits while you're out shopping.

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  • Business
  • Financial

Thursday, May 17


News

Blue Apron Appoints Tim Bensley as Chief Financial Officer

BLU

A veteran finance executive, Bensley brings to Blue Apron over 30 years of diverse finance and strategy leadership experience, including deep expertise in the consumer packaged goods and food retail industries. As CFO, he will lead financial operations across the company, reporting directly to Chief Executive Officer Brad Dickerson and serving on the company’s executive leadership team. Bensley most recently served as CFO of Acosta, Inc., a private-equity backed company with more than 30,000 employees in 100 locations globally that provides multi-channel sales, marketing and business intelligence services to many of the world’s leading food and consumer packaged goods companies. Bensley spent the next 15 years in various finance leadership positions at Frito-Lay North America, heading the FP&A, Supply Chain Finance and Sales Finance organizations before being promoted to CFO of Frito-Lay Canada in 2005. “Following a rigorous search for a CFO who can make an immediate impact on our business, I am thrilled to have Tim join our team,” said Brad Dickerson, Blue Apron CEO.

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  • Business
  • Financial

Wednesday, May 16


News

3 Reasons Why Starbucks Should Buy Blue Apron

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Let's start there, because when we go spiraling down the circular staircase of speculative chatter, it's important to ground the discussion in reality. Global supply chains consultant Brittain Ladd is telling RetailWire that Starbucks should buy Blue Apron, but it's just an industry pro dreaming out loud. Ladd's own dream scenario also has Blue Apron buying ICON Meals to give it a foothold in ready-to-eat meals and protein snacks business, so in a sense Starbucks would be getting both the meandering meal-kit provider and a leader in ready-to-eat solutions. Let's strip away the side deal for a moment and explore what Blue Apron in its present form could offer Starbucks.

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  • Business
  • Financial

Monday, May 14


News

Why Blue Apron Holding Inc. Stock Was Moving Higher Today

BLU

Why Blue Apron Holdings Inc. Stock Was Moving Higher Today. Shares were climbing as the meal-kit service announced another brand promotion. Shares of Blue Apron Holdings Inc. (NYSE:APRN) were gaining today as the company announced a new promotional program with a series of national pop-up events, its latest attempt to gain traction for the brand after a botched transition to a new distribution facility caused it to lose customers last year. As of 3:02 p.m. EDT, the stock was up 5.1% on the news. So what. As part of a program it's calling "Unboxed," Blue Apron is offering a range of pop-up events like cooking classes, movie nights, and panel discussions with chefs. The stock has been highly volatile since its earnings report early this month so today's gains may just be a reflection of that rockiness, but investors should also be cheering such brand innovations as "Unboxed" because Blue Apron needs to do something to regain lost ground.

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News

Blue Apron Launches “Unboxed”: Celebrating Home Cooking with a Series of National Pop-Up Events - Odessa American: Entertainment

BLU

Blue Apron Launches “Unboxed”: Celebrating Home Cooking with a Series of National Pop-Up Events Print Create a hardcopy of this page Font Size: Default font size Larger font size. NEW YORK--(BUSINESS WIRE)--May 14, 2018--Blue Apron (NYSE:APRN) today announced a national series of pop-up events intended to bring communities across the country together in celebration of home cooking. Blue Apron will charge a small fee for cooking classes and will donate all of the proceeds to City Harvest, the world’s first food rescue organization, dedicated to feeding the nearly 1.3 million New Yorkers facing hunger. “As we work to serve the diverse needs of our customers by creating new products and expanding into new distribution channels, these experiential events are an opportunity to extend our brand outside of the home where customers typically enjoy our product, and celebrate home cooking with communities across the country.”. For specific event information in each city, including locations, hours of operation, and daily programming, visit: www.blueapron.com/unboxed.

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  • Entertainment
  • Science

Friday, May 11


News

Investor Expectations to Drive Momentum within SUPERVALU INC, Dunkin' Brands Group, Marsh & McLennan Companies, Washington Prime Group, Cognizant Technology Solutions, and Blue Apron — Discovering Underlying Factors of Influence

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The new research reports from Fundamental Markets, available for free download at the links above, examine SUPERVALU INC. (SVU), Dunkin' Brands Group, Inc. (DNKN), Marsh & McLennan Companies, Inc. (MMC), Washington Prime Group Inc. (WPG), Cognizant Technology Solutions Corporation (CTSH), and Blue Apron Holdings, Inc. (APRN) on a fundamental level and outlines the overall demand for their products and services in addition to an in-depth review of the business strategy, management discussion, and overall direction going forward. Please download the entire research report, free of charge, to ensure you are reading all relevant material information. The report will be for the fiscal period ending May 31st, 2018. Marsh & McLennan Companies' Recent Financial Performance. For the three months ended March 31st, 2018 vs March 31st, 2017, Marsh & McLennan Companies reported revenue of $4,000.00MM vs $3,503.00MM (up 14.19%) and basic earnings per share $1.36 vs $1.10 (up 23.64%). For the twelve months ended December 31st, 2017 vs December 31st, 2016, Marsh & McLennan Companies reported revenue of $14,024.00MM vs $13,211.00MM (up 6.15%) and basic earnings per share $2.91 vs $3.41 (down 14.66%).

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Thursday, May 10


News

Why Blue Apron Holding Inc Stock Sold Off Today

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Shares of Blue Apron Holding Inc (NYSE: APRN) were falling today as the stock continued to pull back after a post-earnings surge that had sent it up as much as 39%. There was little direct news out on the company today as the sell-off seemed to be mostly a correction from the run-up following its earnings report. Blue Apron shares have been volatile and trading in heavy volume since its first-quarter earnings report last week when the company beat earnings estimates and showed sequential customer and revenue growth for the first time in several quarters. With 37% of the stock sold short, a short squeeze also could have helped boost the stock. However, today is the second straight day that Blue Apron stock has fallen after a 6% slide yesterday, showing that investors seemed to think the stock was overbought after the recent rally.

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  • Business
  • Financial

Tuesday, May 08


News

Why Shares of Blue Apron Holdings Jumped 11% Today

BLU

The stock continued on its recent run higher, but it's still far below its IPO levels. Shares of Blue Apron Holdings(NYSE:APRN), a meal-kit delivery specialist, jumped 11% on Tuesday thanks to investors' faith in the company being renewed after a solid first quarter. So what. Blue Apron shares are up more than 30% over the past five trading days and almost 56% over the past month. However, for investors that have been in since the beginning, those gains do little to get the price back to IPO levels. Now what. If Blue Apron wants to win back more investors, it must start growing the top line, which is easier said than done at a time it spends less on marketing. While revenue increased 5% sequentially in the first quarter, it was still 20% lower than the year-ago period.

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News

Blue Apron Shows Flickers of Life. Is It Time to Buy?

BLU

The meal kit maker went public at $10 last June, but now trades at just above $2. And even after that dramatic decline, 36% of its shares were still being shorted as of April 26. Yet shares of Blue Apron recently rallied after the company released its first quarter report on May 3. Its average order value dipped 1% annually and 2% sequentially, however, indicating that Blue Apron's higher revenues per customer were driven by more orders per customer offsetting its lower revenues per order. Blue Apron reduced its operating expenses by 24% annually to $226.6 million, driven by layoffs, cost cutting measures, and operational improvements at its fulfillment centers. Its net loss narrowed from $52.2 million a year ago and $39.1 million in the previous quarter to $31.7 million, or $0.17 per share, topping estimates by seven cents. However, Blue Apron's cash and equivalents still dropped from $228.5 million at the end of 2017 to $203.5 million.

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Friday, May 04


News

A Look at Blue Apron’s 1Q18 Sales

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Blue Apron Holdings (APRN), an online meal kit provider, announced its 1Q18 earnings on May 3. On a YoY (year-over-year) basis, its revenue declined 20% since the company intentionally scaled back its marketing efforts to divert resources to its Linden fulfillment center to speed up operations. It stepped up its marketing efforts in the last week of December.

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  • Financial