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.

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