Meal Kit Delivery Company Blue Apron May Be Up For Sale Soon

Struggling meal-kit company Blue Apron announced this week that its numbers of customers have fallen in the last three months of 2019.

The company reported on Tuesday that its customer number dropped 37% to hit 351,000. Revenue also fell 33% to $94.3 million with a loss of $21.9 million in the latest quarter.

“In the fourth quarter our teams remained focused on pursuing our previously announced three-pronged strategy in order to drive revenue and customer growth by engaging more consumers that have our best customer characteristics; offering greater menu choices and flexibility in our products and services; and scaling our marketing efficiently,” said Linda Findley Kozlowski, Blue Apron Chief Executive Officer.

She added, “We are proud of the actions we’ve taken in recent months to evolve our product and service to position Blue Apron as the trusted solution for home cooks seeking quality, discovery and variety in their culinary experiences.”

The New York-based company also revealed to Wall Street that it is now considering merging with another company or selling off parts of its business.

Blue Apron also said it would be closing a facility where its kits are packed and shipped in Arlington, Texas. The move will slash about 240 jobs.

Shares are down roughly 85% in the past year.

Disclaimer: We have no position in Blue Apron Holdings Inc. (NYSE: APRN) and have not been compensated for this article.