Actionable news
0
All posts from Actionable news
Actionable news in AMZN: Amazon.com, Inc.,

Blue Apron shares slump as deeper losses, Amazon loom

Reuters

Aug 10 (Reuters) - Meal-kit delivery company Blue Apron lost nearly a fifth of its value on Thursday after saying costs tied to moving to a new distribution center would pile on to losses this year, compounding worries about competition from e-commerce giant Amazon.com.

Less than two months after its initial public offering, New York-based Blue Apron also reported a bigger-than-expected quarterly loss. Sharp marketing cuts and stiff competition led to a 9-percent decline in second-quarter customers compared with the first quarter.

The five-year-old company, which competes with dozens of startups including Hello Fresh and Plated, serves customers who often switch allegiance or cancel subscriptions altogether once free trials are up.

EAmazon.com Inc registered a trademark for a similar meal-kit service last month, heralding even more competition to come. That move, along with Amazon's industry-altering deal to...


More