Blue Apron's focus is on delivering delicious, sustainable food in environmentally-friendly packaging. What Does Blue Apron Offer?īlue Apron delivers fresh ingredients to your door so that you can cook 2 or 4 person meals at about $10 per serving. How do these competitors stack up, and should you stick with Blue Apron just because it was first? Let’s take a look. The underwhelming report from Blue Apron comes weeks after news broke that HelloFresh plans to close its Richmond, Calif., plant in December.However, in recent years, a number of competitors have burst onto the scene, challenging Blue Apron in both food quality, selection and pricing. The company reported a decline in customers and orders in the three-month period. However, the company is implementing measures to reduce costs and is evaluating financing and other alternatives to manage its liquidity.īlue Apron in October had warned investors about missing its third-quarter revenue goal. The company said costs of goods sold increased 90 basis points to 67.8% due to higher shipping and fulfillment packaging costs. Our focus is to provide value to our customers, while leveraging price and cost discipline to mitigate macro headwinds to target margin improvement over time.”īlue Apron withdrew its previously announced revenue growth target as it awaits funds from major shareholder and entrepreneur Joseph Sanberg.
We are working to balance the performance of our products with our response to inflation. "These metrics are supported, in part, by expanded menu variety, including Ready to Cook meals along with seasonal offerings, which continue to resonate well with customers. "During the third quarter, we delivered record levels of Average Order Value and Average Revenue Per Customer," said Linda Findley, Blue Apron’s president and CEO. The company said it remains focused on achieving adjusted EBITDA profitability in the future and will evaluate providing updated targets once the company has more certainty on its liquidity position. The average revenue per customer grew 8.6% year over year to $340. Orders fell 12% year over year while the average order value rose 13.7% to $70.83. 30, the company said net revenue was flat year-over-year and down 11.7% sequentially to $109.7 million. Blue Apron reported a loss of $25.8 million, or 74 cents a share, compared with a loss of $27.6 million, or $1.17 a share, the prior year. 7, the company withdrew its previously announced revenue growth target of 7% to 13% for fiscal 2022.įor the period ended Sept.
In reporting third quarter earnings on Nov. Pioneering meal kit provider Blue Apron is continuing to lose customers as pandemic-related demand for its meal kits keeps cooling off.
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