Blue Apron Holdings (APRN) - Get Blue Apron Holdings, Inc. Class A Report was surging Tuesday after the meal-kit provider announced a collaboration with chef and restaurateur Tim Hollingsworth that will add five new recipes to the company's summer meal kit offerings.
Shares of the New York-based company were climbing 5.2% to $12.81.
The seasonal recipes will be available from the week of June 29 through the week of July 20, and include such choices as chicken with walnut mahammara, couscous and labneh; and salmon with tamarind sauce, aromatic rice and crispy onions.
"This collaboration invites Blue Apron members to host their own family cookouts that savor the classic summer flavors from Tim Hollingsworth's kitchen," John Adler, the company's vice president of culinary, said in a statement.
The coronavirus pandemic has been a tailwind for stay-at-home services like meal-kit deliveries.
"Blue Apron continues to see heightened demand for its meal kits as a result of changes in consumer habits related to the COVID-19 pandemic," said in a statement last month.
The company said it scaled operations to meet the increased demand and reiterated its 2020 second quarter financial outlook provided in April 29, " and continues to position itself for sustained long-term growth."
Blue Apron reported a wider first-quarter loss on 28% lower revenue in April, but said the widening loss and declining revenue didn’t result from the coronavirus.
The revenue drop reflected Blue Apron's “deliberate reduction in marketing spend in prior periods while focusing on marketing efficiency and targeting high affinity consumers,” the company said in a statement.
"The company believes there will be an ongoing positive impact on demand for its meals, although the duration and extent of this demand increase is unknown," Blue Apron said.