Cheddar Afternoon Business Report 8/10: Blue Apron serves up big losses

Posted: Updated:
NEW YORK -

Blue Apron is serving up big losses in its first earnings report since going public.

The meal kit delivery service is spending heavily on hiring and infrastructure, driving it to a loss of more than $31 million.

Meanwhile, Macy’s says sales fell nearly three percent in the last quarter, as more people shop online.

Macy’s is in the middle of a major turnaround plan, cutting jobs and closing stores as a way to save money.

Lastly, Tesla is reportedly working technology for self-driving electric semi-trucks.

Reuters reports that they transport trucks would move in convoy formation.

  • BusinessMore>>

  • MGM sues Vegas shooting victims in push to avoid liability

    MGM sues Vegas shooting victims in push to avoid liability

    Tuesday, July 17 2018 2:31 PM EDT2018-07-17 18:31:22 GMT
    Wednesday, July 18 2018 12:52 AM EDT2018-07-18 04:52:53 GMT
    MGM Resorts International has sued hundreds of victims of the deadliest mass shooting in modern U.S. history in a bid to avoid liability for the gunfire that rained down from its Mandalay Bay casino-resort in Las...
    MGM Resorts International has sued hundreds of victims of the deadliest mass shooting in modern U.S. history in a bid to avoid liability for the gunfire that rained down from its Mandalay Bay casino-resort in Las Vegas.
  • Man suspected in California serial rapes drove for Lyft

    Man suspected in California serial rapes drove for Lyft

    Tuesday, July 17 2018 4:10 PM EDT2018-07-17 20:10:29 GMT
    Wednesday, July 18 2018 12:52 AM EDT2018-07-18 04:52:26 GMT
    Federal immigration authorities say a suspected serial rapist who is charged with posing as a Northern California ride-sharing driver to prey on his victims was living in the country illegally.
    Federal immigration authorities say a suspected serial rapist who is charged with posing as a Northern California ride-sharing driver to prey on his victims was living in the country illegally.
  • Lawmakers warn Trump tariffs threaten local newspapers

    Lawmakers warn Trump tariffs threaten local newspapers

    Tuesday, July 17 2018 11:33 AM EDT2018-07-17 15:33:32 GMT
    Wednesday, July 18 2018 12:52 AM EDT2018-07-18 04:52:18 GMT
    Members of Congress are warning that newspapers in their home states are in danger of layoffs, cutting coverage or going out of business entirely if the United States maintains recently imposed tariffs on Canadian...
    Members of Congress are warning that newspapers in their home states are in danger of layoffs, cutting coverage or going out of business entirely if the United States maintains recently imposed tariffs on Canadian newsprint.
sorry to interrupt
your first 20 are free
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please enjoy 20 complimentary views of articles, photos, and videos during the next 30 days.
you have reached your 20 view limit
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please login or create an account to continue enjoying News12.
Our sign-up page is undergoing maintenance and is not currently available. However, you will be given direct access to news12.com while we complete our upgrade.
When we are back up and running you will be prompted at that time to complete your sign in. Until then, enjoy the local news, weather, traffic and more that's "as local as local news gets."