Investors largely expected the FOMC to cut rates by a quarter point.The Fedread more
This is a comparison of Wednesday's FOMC statement with the one issued on July 31 after the Fed's previous policymaking meeting.The Fedread more
Ahead of the Fed's 2 p.m. announcement, many economists were forecasting one further cut in 2019, but some investors were hoping for two more this year.The Fedread more
The interest on excess reserves now stands at 1.8%, a 30 basis point cut compared to the 25 basis point reduction for the benchmark funds rate.The Fedread more
Stocks traded lower on Wednesday as traders digested the Federal Reserve's latest decision on U.S. monetary policy.US Marketsread more
Activists with Black Lives Matter, who met privately with Buttigieg in the weeks after police shot and killed Eric Logan, say the 37-year-old mayor brushed off their concerns...2020 Electionsread more
The report, published by Rep. Carolyn Maloney, used data from the Giffords Law Center to Prevent Gun Violence and the Centers for Disease Control to estimate the cost of gun...Politicsread more
Russia slammed Trump's decision to tighten sanctions on Iran following strikes at a crude-processing plant and oil field in Saudi Arabia.Politicsread more
According to a report in the Wall Street Journal, WeWork co-founder Adam Neumann has floated the idea of becoming Israel's prime minister or leader of the world.Technologyread more
Federal prosecutors and commodity regulators have broadened their investigation into spoofing activity after receiving information from traders questioned for spoofing-related...Marketsread more
General Motors announced on Wednesday that it plans to temporarily lay off 1,300 workers at its final assembly plant in Oshawa, Canada due to a slowdown at U.S. plants during...Autosread more
Blue Apron is coming out of its box and onto grocery store shelves.
The meal kit company, which has struggled to hold onto customers amid growing competition and distribution issues, is set to bring its meals to supermarkets sometime this year, Blue Apron confirmed Thursday.
"This offering is part of our strategy to leverage the strength of our brand and the quality of our product to expand to new channels and new consumer segments," a company spokeswoman told CNBC.
Blue Apron has been struggling to overcome well-publicized operational issues that have dragged its stock down more than 78 percent since it started trading in late June.
Shares of the company were up about 2 percent on Thursday.
The company has been slimming down its marketing budget in an effort to turn profitable, but in doing so, its customer acquisition has slowed.
In the fourth quarter, the company said the number of customers fell 15 percent from a year earlier and fell 13 percent from the prior quarter.
Blue Apron started testing the waters in offering specialized programs and diets as a way to lure customers. In January, it started selling a Whole30 meal plan. The 30-day diet plan, which was available through Feb. 26, focused on "whole" foods such as fresh fruits and vegetables and eliminated items like sugar, alcohol, grains, soy and dairy.
In addition, the company has begun to offer flexible plans and recipes. It has introduced meals that could be made within 30 minutes, meals that require less cleanup and brought back customers' favorite recipes.
Entering grocery stores is the next step.
"This new multichannel offering, which will make our brand more accessible to homes across the country," the Blue Apron spokeswoman said.
Blue Apron has been pressured by a growing number of competitors in the meal kit industry as well as the grocery space.
Meal kit companies like Marley Spoon and Sun Basket have capitalized on consumers' desire for cheaper meals and more choice; grocers like Albertsons and Kroger have acquired smaller meal kit services to bring into their stores; and Walmart and Amazon announced plans to bring meal kits to supermarkets.
Even Weight Watchers is jumping into the fray. The company announced plans last week for a line of quick prep meal kits at grocery stores.