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Blue Apron Stock Soars as Consumers Turn to At-Home Meal Kits During Coronavirus Outbreak
When Blue Apron first went public in 2017, things didn’t turn out so great l for the company. However, as the majority of the global market heads on a downward spiral, Blue Apron’s stock has been on the upswing.
As the markets closed on March 19, Blue Apron’s stock was up an impressive 500%, as the demand for its meal kits has skyrocketed in the past week.
“We are increasing our capacity for future orders and expect to fulfill this increased demand by the next..."
Blue Apron Announces What to Expect in 2020
In an earnings call this week, Blue Apron discussed the meal kit company's strategy for the upcoming year. In the near-term, Blue Apron CEO Linda Findley Kozlowski stated that the company would prioritize the second pillar of their strategy which includes providing more choices and enabling more flexibility to accommodate a wider range of consumers' needs and preferences.
In early December, Blue Apron launched its latest menu expansion, allowing all customers to select from any eleven recipes on their Signature Two-Serving menu each week. The increase from eight to...
Blue Apron Closing Arlington Facility, Laying Off 240 Employees
Blue Apron announced in an earnings call this week that they are closing their facility in Arlington, Texas. The news comes after the meal kit company downsized last year at their facilities in Linden, New Jersey and Richmond, California.
CEO Linda Findley Kozlowski said that their decision to close the Arlington facility is because the company is "building a foundation of operational optimization and fiscal discipline to support our strategy to return to growth."
"Given advancements in sourcing, production and logistics, we believe this consolidation of volume into Linden and Richmond...
Tyson Introduces Instant Pot Kits
Tyson Brand and Instant Brands, creator of the multicooker, Instant Pot, have teamed up to create the brand-new Tyson Instant Pot Kits. Designed to cook in 20 minutes, these fully prepped kits have everything you need for a meal, including Tyson chicken, as well as premium long-grain rice and bold sauces.
The kits were designed to help Instant Pot users who want new ways to use their multicooker to make their favorite protein, and fast. The Tyson Instant Pot Kits come in three culinary-inspired and on-trend varieties that are sure to satisfy all palates...
Research and Markets: Global Meal Kit Market Report
According to Research and Markets, the global meal kit market is expected to surpass $15.5 billion by the end of 2025. In the United States and Europe, the demand for meal kits is observed. The global food processing meal kit market is expected to grow significantly during the forecast period. The main factors driving the global market for meal kits are the world's rising working professional, a growing urban population, an increasing tendency to reduce food waste, and the availability of fresh food items.
The United States holds the major share in the global meal kit market, with a digital boom creating positive impacts. Subscription models and ordering meals online is growing tremendously due to...
Blue Apron Reports Third Quarter Results
Blue Apron Holdings, Inc. announced today financial results for the quarter ended September 30, 2019.
“We delivered third quarter results in line with our guidance as we continue to focus on building for the future and managing the business for sustainable, long-term growth,” said Linda Findley Kozlowski, Blue Apron Chief Executive Officer. “We’re pleased to see the continued strengthening of our customer base with year-over-year improvements in certain key customer metrics in the third quarter. We continue to believe that the potential for Blue Apron remains significant and that with the execution of our strategy, we will achieve our 2020 growth targets.”
“We are pleased to have recently completed the refinancing of our revolving credit facility with our existing lender syndicate which we expect will support the continued execution of our growth strategy,” said Tim Bensley, Blue Apron Chief Financial Officer. “This transaction also...
Aramark Gears Up for 2019 Back-to-School Season on College Campuses Across the Nation
As millions of college students prepare to return to campus to start the new school year, they’ll be looking for fresh, nutritious, on-trend food when they hit the books. Aramark, the award-winning food and facilities partner of more than 400 colleges and universities across the U.S., is ready to welcome back three million higher education students to campus, by introducing a new wave of offerings customized to the ever-changing needs of Gen Zers.
“Every year, our higher education team members elevate the student experience with custom campus solutions tailored for them,” said Jeff Gilliam, president of Aramark’s Higher Education business. “Our culinary team puts innovation first, to create healthy, fresh recipes that students love, and we’re excited for students to see...
HelloFresh Adds Beyond Meat to Menu Line-Up
HelloFresh, the leader in delivering delicious ingredients and easy-to-follow recipes to households worldwide, today announced the introduction of the Beyond Burger from Beyond Meat, a market leader in the plant-based meat category. Offered as part of HelloFresh’s premium Craft Burger collection, HelloFresh customers can now order the first recipe Goudalicious Beyond Burgers paired with Potato Wedges and Creamy Mustard Aioli, which will begin shipping to customers nationwide the week of September 14, 2019.
“We are always looking to expand our menu offerings and provide customers with exciting, new recipe choices that appeal to a variety of palates and eating preferences,” said Marcel Comtois, Vice President of Procurement, HelloFresh US. “With the addition of the Beyond Burger to our menus, we’re excited to give our home cooks the opportunity to...
Meal Kits and Online Grocery Shopping Revitalize Interest in Home Cooking
More than half of U.S. adults claim they really enjoy cooking (53%) and more than a third consider the kitchen to be the most important room in the home (35%), according to data in the new report Eating Trends: Cooking & Food Shopping from market research firm Packaged Facts. These percentages are up compared to a decade ago.
Packaged Facts found that most people who don't cook at home either have a lack of time to grocery shop and meal prep or they lack confidence in their cooking skills. The latter reason is especially prevalent among Gen Z adults (ages 18-24) and to a lesser extent Millennials (ages 25-39).
The meal kit industry is arguably the best example of a food industry segment that's making it easier for adults to start cooking more at home again. The products are marketed to emphasize...
Blue Apron Holdings Reports Second Quarter 2019 Results
Blue Apron Holdings, Inc. (NYSE: APRN) announced today financial results for the quarter ended June 30, 2019.
“Blue Apron’s next phase will be defined by focusing on our customers and our core business in order to return the business to growth in 2020,” said Linda Findley Kozlowski, Blue Apron Chief Executive Officer. “We’ve clearly and thoroughly demonstrated results in operational optimization and fiscal discipline throughout the organization. Now, we need to prove we can grow our customer base and revenue through both better execution and new initiatives that enable our core business to reach its full potential. Our market opportunity is large and we believe that it is growing, leading to...
FSIS Announces New Guidance on Meal Kit Labeling
The Food Safety and Inspection Service is announcing the availability of the Agency’s guideline on kit products that contain meat or poultry components. The guideline will help facilities determine whether a meal kit product needs to be prepared under FSIS inspection as well as how it needs to be labeled.
There are numerous types of kit products that feature a component of meat or poultry. Kits that feature wraps, pizzas, stew, salads, fajitas or stir-fry meals are some examples. Some of the components, may require cooking...
Competition Heats Up in Canada as Emerging Channels Enter the Playing Field
Emerging channels in Canada are delivering a new wave of competition for traditional foodservice operators. Technomic’s 2019 Canadian Emerging Channels Consumer Trend Report explores these new players, covering everything from food halls to meal kits. While usage of these channels is currently low overall, there is strong appeal among younger consumers. This, along with future expansion plans, means that emerging channels are poised to steal share from restaurants moving forward.
“For younger consumers, a wider variety of need states compared to older consumers and a greater willingness to experiment and try new things leads to greater usage of emerging channels,” explains Bret Yonke, manager of consumer insights at Technomic. “Moving forward, the broad nature of these channels means competition on multiple fronts. Food halls and food trucks will be the greatest threat for lunch occasions, while eatertainment and meal kits will...
Good Eggs Releases Results of Family Food Fix Survey
Good Eggs, the online market that delivers absurdly fresh groceries, today announced the results of its Family Food Fix Survey, which takes a pulse on the perspectives and behaviors of today's consumers when it comes to the necessary task of grocery shopping. Additionally, the findings reveal insights into meal kit usage, the reality of preparing multiple dinners every night, and what families across America want most for dinner.
"From grocery shopping to getting dinner on the table, feeding a family has become a time-consuming struggle for today's busy parents," said Jaime Nessel, Vice President of Assortment of Good Eggs. "Online grocery delivery services can provide significant time savings to families. At Good Eggs, we provide a complete, yet curated assortment of local products, absurdly fresh local produce and meat...
Meal Kits: Why Older Adults Offer the Ideal Target Market
Think meal kits are a Millennial or Gen Z trend best suited to the novice cooking skills of adults under age 40? Packaged Facts encourages you to reconsider. The market research firm reveals in the report, Meal Kits: Trends and Opportunities in the U.S., 3rd Edition, that older adults provide a wealth of growth opportunities.
Many older consumers are experienced cooks who enjoy a homemade meal. However, as people age, their ability to use their hands and their ability to leave their home to shop for groceries may be diminished.
Older consumers are more likely to have developed conditions such as arthritis and tremors that make it difficult to engage in food preparation tasks, especially chopping and peeling vegetables. Meal kit delivery services can...
Kroger and Home Chef Launch Pilot for Three New Retail Meal Solutions
The Kroger Co. (NYSE: KR) and Home Chef announced today a pilot to enhance its existing selection of meal kits sold in more than 900 Kroger Family of Stores across the country with three new options.
UB Executive Conference: Deli is Driving Force Behind Grocery Perimeter Growth For Good Reasons
Sarah Schmansky is Vice President of Nielsen’s Fresh and H&W Growth and Strategy Teams, and a much-anticipated presenter at this year’s Executive Conference. The focus of her presentation was centered around the evolution of retail foodservice, with deli being a major component of that.
Nielsen data shows that in-store growth is coming from the perimeter of the store. Schmansky says “Deli is driving that growth.” And for good reason. Consumers are increasingly valuing their time and their health and wellness, and the deli foodservice component often checks both of those boxes.
Additionally, healthy growth is seen at the meat case and elsewhere in the perimeter. Deli is main driver of total fresh department growth. Deli foodservice, specifically, holds the dominant share...
Technomic: Restaurants Brace for Increased Competition as Emerging Channels Continue to Expand
While usage of emerging channels is still low overall compared to traditional foodservice segments, strong appeal among younger consumers and continued nationwide expansion by these channels means increased competition for restaurants moving forward. Technomic's 2019 Emerging Channels Consumer Trend Report explores primary and secondary emerging channels, and covers the unique challenges and opportunities that each channel faces.
"Restaurant operators will have to pick and choose how to compete as variety and uniqueness are currently competitive advantages for emerging channels...
Technomic: Potential Economic Shock from Coronavirus Pandemic is Unprecedented
U.S. Plant-Based Retail Market Worth $5 Billion, Growing at 5X Total Food Sales
Consumer Confidence Index Declined Sharply in March
Asian Consumers Are Rethinking How They Eat Past COVID-19
Restaurants Offer Deals to Boost Traffic During the Coronavirus Pandemic
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