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APRN - Blue Apron's Q3 Shows the Bottom Remains a Long Way Off
Blue Apron Holdings Inc. Class A
Blue Apron(NYSE: APRN) is quickly becoming a footnote in the industry it helped popularize. The meal kit delivery specialist reported third-quarter earnings that show sales to a dwindling list of customers continue to fall, even though those that remain are buying more meals through their subscription.
The fact that all of this is by design indicates Blue Apron is properly targeting the small niche of consumers it can service, but at the same time, this is not a business that can scale, making it a poor investment.