APRN - Why I'm Watching Blue Apron Most Closely During Earnings Next Week
Although the coronavirus crisis has bludgeoned numerous industries -- cutting off their lifeline to consumers through mandatory lockdowns and shelter-in-place orders -- some businesses are thriving. Netflix just reported a massive gain of 16 million new subscribers, because what else are you going to do when forced to stay home but watch movies?
Blue Apron (NYSE: APRN) is a business similarly positioned to report big subscriber gains when it reports earnings on April 29, due to the COVID-19 pandemic. Restaurants are closed or offering limited delivery opportunities, and supermarkets are limiting how many customers they allow in their stores at one time, creating long lines to get in. So for many consumers, having prepped meals delivered to their door may just be the easier option.
It's one of the reasons I plan to watch the meal-kit delivery specialist's results closely when they're announced next week.