To prop up momentum, Blue Apron spent more on marketing - $11.6 million in the quarter compared with $9.7 million a year ago. That helped boost revenue 10 percent to $131 million - a return to growth that came “sooner than expected,” Chief Executive Linda Findley Kozlowski said in a statement. McDonald's shares plunge as coronavirus takes a bite out of sales Blue Apron expects third-quarter revenue to jump 13 percent in the current quarter, but said it also expects a to post a quarterly loss as high as $18 million.īlue Apron shares - which have surged more than fivefold since the pandemic hit in mid-March - plunged 13 percent to $12.24 on Wednesday.īlue Apron said its subscription service – which ships fresh, ready-to-cook ingredients in a box a few times a week - got 20,000 new customers during the quarter ended June 30, bringing the total to 396,000 versus 449,000 a year earlier.Īverage revenue per customer surged to $331 versus $265 a year ago - a level of spending Blue Apron has not seen in five years, the company said. The eight year-old company, however, warned demand will likely taper off next year and that it hopes to maintain “a portion of the demand” through the end of 2020. The New York-based meal-kit maker swung to a $1.1 million profit in the second quarter - a sharp turnaround from its year-ago loss of $7.7 million - as the coronavirus pandemic kept restaurants shuttered and consumers cooking at home. Try Blue Apron's new meal kit offerings for all three meals and moreĮat balanced with Blue Apron's Wellness meal kit offerings, now on saleīlue Apron’s financials finally look appetizing - but the company warned that its surprise profit won’t last. I don't cook, but Blue Apron’s ‘Heat & Eat’ meals saved the day Blue Apron starved for cash as key investor delays funding
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