9/13/2023 0 Comments Blue apron earnings![]() The Next Course strategy outlines a path to sustainable growth, profitability and shareholder return. It also positions our ESG programs as an enabler of our long-term ambitions, simultaneously driving accountability to the environment, customer growth and employee engagement.” The next phase of our strategy, which we have titled The Next Course, will be focused on delivering long-term sustainable growth, and sets our sights on profitability at the adjusted EBITDA level in 2023. With the customer at the center of everything we do, we are moving beyond the three pillar strategy that we introduced shortly after I joined Blue Apron in 2019. Linda Findley, Blue Apron’s President and Chief Executive Officer, commented, “This is an exciting time for Blue Apron as we step into the next phase of our turnaround. The company also provided greater visibility into its near-term financial and operational performance expectations and targets. ![]() Management unveiled The Next Course strategy, and discussed the company’s strategic plans and outlook relating to its business, including details on its path to achieve adjusted EBITDA profitability in 2023 and positive free cash flow in 2024. ![]() Discussed Strategy to Responsibly Deploy Recent Equity Capital Raised to Invest in Platform to Help Execute Its New Strategyīlue Apron (NYSE: APRN) hosted its inaugural Investor Day on at its fulfillment center in Linden, New Jersey.Targeted Long-Term Steady-State Variable Margin of 40% and PTG&A of 20% of Revenue.Outlined Plans to Drive Customer Growth Through Targeted Marketing Spend, Product Innovation, Customizations, Add-ons, and Non-Subscription Offerings.Highlighted Drivers of Success Behind Eight Straight Quarters of Elevated Customer Metrics.Introduced Next Phase of Strategy Towards Path to Adjusted EBITDA Profitability in 2023 and Free Cash Flow Generation in 2024.
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