November 28, 2021

Earn Money

Business Life

Blue Apron Increases Capacity, Says Situation Remains Fluid During Pandemic

Meal kit delivery company Blue Apron Holdings Inc (NYSE: APRN) is increasing its capacity for future orders as demand surges, MarketWatch reported Friday. 

Blue Apron Sees ‘Increased Demand’ In Pandemic 

Blue Apron CEO Linda Findley Kozlowski told MarketWatch in a statement that the company is taking steps to fulfill “increased demand” for the company’s next weekly cycle, which starts on March 30.

The CEO cautioned against any foregone conclusions about the “current or future performance of the company.”

The coronavirus outbreak remains “very fluid and various matters could affect our ability to serve our customers,” Findley Kozlowski’s statement said. 

The stock was down nearly 30% Friday morning.

The stock rallied from around $2.50 prior to the coronavirus outbreak in the U.S. to above $16 before giving back some of the gains over the past few trading sessions.

Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.

Blue Apron’s Model 

One could reasonably assume a prolonged coronavirus outbreak would bode well for Blue Apron as dining out options grind to a complete halt. 

BlueApron’s meal-kit delivery also offers a fun and exciting family activity.

On the other hand, BlueApron’s business could be impacted by a slowdown or pause in mail operations.

What’s Next For Blue Apron 

If Blue Apron impresses curious customers with great quality products and fresh protein, the company stands a chance of converting the “short-term dabbler” client into a long-term customer, Jim Hull, senior industry strategy director at digital-fulfillment platform Blue Yonder, told MarketWatch.

The stock was down 28.91% at $10.18 at the time of publication Friday. 

Related Links:

Why Blue Apron’s Stock Is Trading Lower Today

Surveys, Stats Paint Difficult Environment For Restaurant Industry

Photo courtesy of Blue Apron. 

See more from Benzinga

© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Source Article