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Blue Apron Expects Sales Slowdown After Beating Estimates

  • Results show people are spending more per meal-kit order
  • Company cuts marketing costs, leading to decline in customers
Bloomberg business news

Why Blue Apron Shares Are Down Despite Beating Estimates

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Blue Apron Holdings Inc. reported third-quarter revenue that beat analysts’ estimates, reflecting efforts to get customers to spend more on its meal kits each month. But the company also reiterated a forecast that indicates growth will slow in the last three months of the year.

The shares fell 4.8 percent to $4.45 at 11 a.m. in New York, leaving them down more than 50 percent since Blue Apron’s June initial public offering.