Blue Apron stock has lost nearly 80 percent of its value since going public.
And Inc. reporter Zoe Henry told Cheddar that, if the meal-kit company wants to compete in an increasingly crowded space, it has to funnel more money into its marketing strategy and serve more niche audiences.
“Maybe they need to be offering different types of meals. Maybe vegan, maybe vegetarian, or sourced-locally,” she said Friday. “They need to do a little bit more of what the Sun Baskets of the world are doing.”
Shares of Blue Apron rebounded slightly Friday, after news Weight Watchers is entering the space sent them plunging more than 16 percent a day earlier.
And that’s just the latest blow. If the myriad of pure-play companies in field -- from Sun Basket to HelloFresh to Purple Carrot -- weren’t enough, earlier in the week even Walmart announced plans to offer meal-prep kits.
Competition from lower-priced rivals like that could be a real problem for the company.
“New York and San Francisco yuppies could only take you so far, so we’re going to need to expand beyond the upper middle class millennial market,” she said. “Try telling a mom of four in Barlow, Ohio, that she needs to spend however much a month on Blue Apron, when she could just run to Walgreens or the dollar store and buy cheaper products for dinner that night.”
For the full interview, [click here](https://cheddar.com/videos/blue-apron-stock-hits-record-low-with-weight-watchers-announcement).
One of the most self-made and success stories in the country, Emma Grede, has worked along with the Kardashian Jenner family on many of their best-known brands. Grede, CEO and co-founder of Good American, gave back to the next generation of business leaders as a featured speaker at the Chase for Business Make Your Move summit last week. She spoke with Cheddar News about her career, her company's fashion brand, working with the famous Kardashian-Jennifer family and balancing her own family life.
Berkshire Hathaway, the conglomerate run by businessman Warren Buffett, reported its operating earnings in its most recent quarter jumped more than 40% from a year ago but posted its first net quarterly loss in a year.
Elon Musk's company XaI has announced a new chatbot called Grok.
SAG-AFTRA said over the weekend that it received the studios' last best and final offer following a meeting on Saturday, with the union saying it's reviewing it and considering a response "within the context of the critical issues addressed in our proposals."
Stocks rose slightly as Wall Street looks to continue its momentum with earnings season winding down.
Tyson Foods is recalling about 30,000 of its dino-shaped chicken nuggets after some consumers reported finding small metal pieces in those nuggets.
Google on Monday will try to protect a lucrative piece of its internet empire at the same time it’s still entangled in the biggest U.S. antitrust trial in a quarter century.
Before the SAG-AFTRA strike, this was the weekend “Dune: Part Two” was supposed to open. When Warner Bros. and Legendary pushed that opening back to March 2024 and no other blockbuster stepped in to take its spot.
A growing number of Californians are planting agave to be harvested forz use in spirits. The trend is fueled by the need to find hardy crops that don’t need much water and a booming appetite for premium alcoholic beverages.
Big Business This Week is a guided tour through the biggest market stories of the week, from winning stocks to brutal dips to the facts and forecasts generating buzz on Wall Street. This week we highlight Paramount, Maersk, Starbucks, Uber, Lyft and Beyond Meat.
