You are here: Home » Reuters » News
Business Standard

Blue Apron sees deeper losses ahead, shares slump to record low


By Gayathree Ganesan(Reuters) - Meal-kit delivery company Blue Apron reported a bigger-than-expected quarterly loss and said costs tied to a delay in moving to a new distribution center would pile on to losses this year, driving its shares down 19 percent to a record low.New York-based Blue Apron's first report as a public company on Thursday showed it was spending millions of dollars on marketing to sign up new subscribers, but was struggling to squeeze enough revenue from each customer amid stiff competition.The five-year-old company, which competes with dozens of startups including Hello ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Thu, August 10 2017. 20:21 IST