Blue Apron is climbing ahead of earnings

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Blue Apron

Blue Apron is off to a rough start, but investors are excited about the company ahead of earnings.

Shares are up 5.68% ahead of the company’s second-quarter earnings results, which are expected to be released ahead of Thursday’s opening bell.

Wall Street is expecting a loss of $0.32 a share on revenue of $235.78 million, according to data from Bloomberg.

Blue Apron took a cleaver to its initial public offering range the week before its pricing, following Amazon’s $13.7 billion acquisition of Whole Foods. Many potential investors identified the possibility of more competition in the food-delivery industry and ran the other way. As such, Blue Apron trimmed its IPO range to $10 to $11 a share, down from $15 to $17.

Whole Foods has already started a limited version of a meal-delivery service of its own. But the problems don’t stop there. Blue Apron has also had problems with its user base. The company is spending more than $400 to acquire each customer, who then leaves after a short period of time.

Shares of Blue Apron have fallen 38.68% since their IPO.

Watch Blue Apron’s stock price move in real time here…

blue apron stock price

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Markets Insider