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Blue Apron Reports Narrower Q1 FY 2019 Loss

04/30/2019

Blue Apron Holdings reported a narrower loss of $5.1 million on revenue of $141.9 million for the 1st Quarter of FY 2019 ending March 31st 2019 surprising on the bottom line. Comparable values for Q1 FY 2018 were a loss of $31.7 million on revenue of $196.7 million.

 

The “less bad” result was achieved by slashing marketing expenses by $25 million to concentrate on more accessible channels (low-hanging fruit?) but reflected in the 28 percent decline in revenue. The largest contribution to the decreased loss was the reduction in cost of goods sold.  By improving planning, supply chain management and reduced packaging APRN reduced their highest component of cost from 66 percent of sales in Q1 2018 to 58 percent for the most recent quarter, attesting to previous inefficiency and mismanagement.

 

The Company has progressively lost customers, and filled fewer orders consistent with competition, cost and evaporation of the curiosity factor. Among affluent consumers

 

APRN share price has declined from a 52-week high of $4.15 to $0.65, deep into de-listing territory. At 11H00 on April 30th APRN was trading at $1.01 down 2.7 percent and equivalent to the 50-day moving average. The Company has a 12-month trailing negative profit margin of 18.3 percent and a negative operating margin of 16.8 percent.