After revealing last March it was eyeing brick and mortar as a new avenue to sell its meal kits, Blue Apron is taking its first step into retail after announcing a partnership with Costco. As a part of this partnership, Blue Apron and Costco will launch a pilot program this year. In addition, the meal kit provider also reported its first-quarter earnings were better than expected, with hopes of staging a comeback with consumers.
“We look forward to building on this momentum as we continue to optimize our direct-to-consumer business, create new products that complement our core offering, and leverage new distribution channels—including our newly launched pilot program with Costco—to expand the reach of our strong brand to more households across the country,” said Blue Apron’s Chief Operating Officer Brad Dickerson.
According to a company press release, Blue Apron’s first quarter 2018 financial results are as follows:
“We are pleased with the progress we achieved this quarter, including significant improvement in operational efficiencies as reflected by our margin performance, which was the strongest we have seen since the second quarter of 2016,” continued Dickerson. “We also improved our customer metrics as we began to methodically reaccelerate marketing late last year, with a specific focus on attracting new customers with a high affinity as well as deepening our engagement with current customers.”
For the full results of Blue Apron’s first quarter of 2018, click here.
Will Costco's partnership with Blue Apron help the meal kit provider in the long run? Deli Market News will continue to report with the latest.