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Blue Apron narrows losses

Tonya Garcia

Blue Apron Holdings Inc. reported a second-quarter net loss of $7.7 million, or 59 cents per share, after a loss of $32.8 million, or $2.56 per share, for the same period last year. Revenue totaled $119.2 million, down from $179.6 million last year. The FactSet consensus was for a loss of $1.08 and revenue of $138.0 million. The number of customers has fallen to 449,000 from 717,000 last year, but the average order value has risen to $58.16 from $57.34. Average revenue per customer has also increased to $265 in June 2019 from $250 in June 2018. Blue Apron stock has lost nearly 49% for the year to date while the S&P 500 index has risen 13.5%.