APRN - Blue Apron falls sharply after pandemic-related demand falls back

Blue Apron Holdings (NYSE:APRN) slumped in early Thursday trading after revenue decreased 7% year-over-year in Q4 to $107M. The company ran up against a comparable from a year ago when there was heightened demand due to the various pandemic restrictions that continued to be in effect to varying levels across the United States. During Q4, average order value rose 10% to $63.78 from the 2019 level to mark the highest level since the company started tracking the metric in 2015. Orders per customer increased 9% from the 2019 level to 5.0. Average revenue per customer increased 19% from the 2019 level to $319. Blue Apron (APRN) said it has been moving aggressively to scale marketing infrastructure, raise brand awareness and improve targeting efficiency. As a result, marketing spending increased 68% in Q4 compared with the same period last year, with the majority of those dollars funneled into programs that the

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Blue Apron falls sharply after pandemic-related demand falls back