Blue Apron shares sink as coronavirus order bump fails to boost sales [Reuters]
Blue Apron Holdings, Inc. (APRN)
Last blue apron holdings, inc. earnings: 4/29 06:15 am
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Source: Reuters
Blue Apron shares sink as coronavirus order bump fails to boost sales (Reuters) - Shares of Blue Apron Holdings Inc ( APRN.N ) slumped as much as 33% on Wednesday as the meal-kit company posted a steep decline in quarterly sales even after seeing a boost in orders from Americans confined to their homes amid coronavirus-led lockdowns. The company, which posted results for the three months that ended March 31, said it saw a bump in orders only at the end of the first quarter and added that most of the benefit from a spike in demand will be reflected in the current quarter. “Even as restrictions on consumer behavior begin to ease, we expect that there will be a shift to new economic and social norms, reflecting the changes in cooking and eating habits developed during the weeks or months consumers spend at home, and these will persist for some time,” Chief Executive Officer Linda Findley Kozlowski said on a post-earnings call. “We expect that our Q2 results will begin to reflect this i
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