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Blue Apron serves up high costs in first report since debut

Reuters 

(Reuters) - Blue Apron Holdings Inc on Thursday reported a bigger-than-expected loss in its first quarterly report as a public company as the meal-kit delivery service spent heavily to woo customers, sending shares skidding 19 percent to a record low.Blue Apron has spent millions of dollars on marketing to sign up new subscribers, but has struggled to significantly squeeze more revenue from each customer amid stiff competition.The five-year-old company, which competes with dozens of other startups including Hello Fresh and Plated, serves customers who often switch allegiance or cancel ...

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First Published: Thu, August 10 2017. 19:44 IST
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