retail news in context, analysis with attitude

Bloomberg reports that “Capital World Investors has sold its stake in Blue Apron Holdings Inc., a sign that investors are losing confidence in the beleaguered meal-kit delivery company that went public in late June.

“Capital World Investors, a division of Capital Group, has fully exited its position in Blue Apron, according to a Friday filing. The investment firm reported a 12.9 percent stake as of June 30, which had made it Blue Apron’s second largest investor, according to data compiled by Bloomberg.”

• The Associated Press reports that a second lawsuit has been filed that “accuses Poland Spring water of deceiving customers by putting the words ‘100 percent natural spring water’ on product labels. The federal class-action lawsuit in Maine targets corporate parent Nestle Waters North America, which is accused of bottling water from wells and municipal sources that don’t meet the federal definition of spring water.”

Nestle Waters North America called the new suit as being a copycat that is as without merit as the original that was filed last month.

Bloomberg reports that private equity firm Leonard Green & Partners may help the Nordstrom family’s efforts to bring its company private, providing about $1 billion in funding. According to the story, “The Nordstrom family first said it was considering a buyout in June. The idea is to continue its turnaround plan outside of the glare of public markets, giving them an opportunity to improve sales and test new concepts with less scrutiny.”
KC's View: