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Blue Apron, a leader in the meal kit delivery service industry, announced its third quarter earnings this past week. Unfortunately, even with the good news of a revenue increase that surpassed analyst expectations, the stock price still took a tumble.
Revenue totaled $210.6 million, a 3 percent increase from the same period last year. Analysts surveyed by Yahoo Finance had been predicting $191.5 million, so shareholders were happily surprised.
However, the company’s losses were 47 cents per share, when Wall Street was bracing for a loss of 42 cents per share. So ultimately, share prices for Blue Apron dropped 9% by end of day Thursday, November 2nd.
According to CNBC, the company is losing customers, but those who choose to stay are spending more and have increased brand loyalty.
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The meal kit delivery business has had a rough 2017, starting with the lackluster stock market debut of Blue Apron in the wake of Amazon’s purchase of Whole Foods. Blue Apron’s stock has struggled in the ensuing months, and it was recently announced the company plans massive layoffs to help offset costs.
So it took industry analysts by surprise when Blue Apron competitor Hello Fresh announced it was raising $353 million in an IPO on the Frankfurt Stock Exchange. The company is targeting a $1.8 billion US valuation in their initial public offering, it was reported the week of October 22.
Hello Fresh plans a different approach by seeing how they fare in the European market. The company received backing already from Rocket Internet, a German technology company, according to an article in Tech Crunch.
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Consumer at-home genetics testing through companies like AncestryDNA and 23andMe is a booming business. The market was valued at $70 million in 2015, and is expected to increase to $340 million by 2022, thanks to curious people who want to know where their ancestors came from and any genetic health challenges they should be aware of. The problem? Your DNA might not be as safe as you think when you send it off to be tested.
In light of the Sony Studios and Equifax hacking scandals, we all know the consequences and potential dangers of our information being hacked. Some privacy concerns are out of our control, but what about the times when we give access to our data away without knowing it?
You might think your genetics information is private and only accessed with your consent, but in reality, DNA testing companies have far more access to sensitive information. These companies have broad powers as to how they can use your data once you have sent your DNA sample to be tested, despite the agreements you sign showing that they don’t actually own your data.
Gizmodo wrote a revealing feature about the potential pitfalls of signing up with a DNA testing company, and how easily our DNA can be exploited. Your genes contain revealing information about your health, relationships, personality, and family history that, like a social security number, could be easily abused.
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People are turning to online fitness platforms in greater numbers, thanks to the convenience and relatively low cost. Gold’s Gym has seen its own members making a shift to online workouts in place of going to the gym, which prompted the franchise to create its own online platform for members and non-members alike.
This week the company introduced Gold’s AMP, a fitness app which offers training sessions from 6 to 60 minutes in length, depending on how much time you have. Anyone can get the app regardless of whether or not you’re a Gold’s Gym member, and the service only costs $9.99 per month.
According to Club Industry Magazine, the new app will offer cardio, toning and stretch sessions that are coach-led (music included) for both indoor and outdoor workouts, catering to users at all fitness levels. The workouts include treadmill and outdoor walking, jogging and running, as well as elliptical, bike, stair climber, rowing and more, with new workouts added every week.
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October is breast cancer awareness month, and Kate Hudson’s online activewear company Fabletics has unveiled a new collection aimed at raising awareness and supporting those who’ve been touched by the disease.
Breast cancer affects one in eight American women, a huge percentage of the population. In light of this, the Council of Fashion Designers of America and Fabletics’ global campaign for Fashion Targets Breast Cancer teamed up to create a collection that benefits the FTBC initiative.
Designer Ralph Lauren created the FTCB to bring together retailers, designers, and manufacturers in the fashion industry to help raise awareness and money for breast cancer research.
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The at-home DNA testing business is booming, with many customers flocking to companies like 23andMe and Ancestry to send in their saliva samples and await results. MyHeritage DNA is making a name for itself in this competitive market by now offering the most comprehensive test results in the industry, tracing DNA to 42 different ethnic regions, more than any other service. This means they can provide customers with more specific information about their ancestry than any other service.
MyHeritage conducted a project to gather information from more than 5,000 participants, handpicked by MyHeritage researchers from its customer database of 90 million. The researchers chose customers who “exemplified consistent ancestry from the same region or ethnicity across many generations,” according to a statement the company released, so that DNA for more specific regions could be identified.
