Why Blue Apron Shares Are Down Despite Beating Estimates

Blue Apron's third quarter earnings report showed sales beating estimates, but concerns remain due to reduced marketing spending and a declining customer base. The company faces competition from Amazon and HelloFresh. To improve, Blue Apron plans to enhance margins and profitability by focusing on their New Jersey fulfillment center and scrapping other plans. Despite these efforts, the company expanded its net loss guidance for the second half of the year.

What steps did Blue Apron discuss to improve their profitability?

What was the updated guidance for net losses in the second half of the year?