Blue Apron had a rough quarter, but it’s a big market

Blue Apron posted mixed results for the quarter, but I think the CEO has the right outlook as he deals with pressure from Amazon:

But CEO Matthew Salzberg told CNBC that the grocery market is far from a “winner-take-all” battle between grocers, Blue Apron and Amazon.

“We admire Amazon as a company, and we take them seriously, big or small,” Salzberg said. “That being said, we are competing in a competitive and large market. … We think about ourselves very differently, I think, than Amazon thinks about themselves.”

That’s exactly right and a good way to look at the market. It’s easy to assume that he’s saying that because the quarter wasn’t great, but it is true.