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Stryve Foods, Inc. Announces New and Expanded Distribution with Leading Retailers Including BJ’s Wholesale Club and Previews Preliminary Q3 2024 Select Financial Metrics
Stryve Foods, Inc. (NASDAQ: SNAX) announced new and expanded distribution with major retailers, including BJ's Wholesale Club. This follows a successful product rotation in Costco's Southeast Region during Q2. The company secured new distribution with retailers like Circle K Coastal, Wawa, and Lowe's Grocery, while expanding presence with existing partners such as Sprouts and CVS.
Preliminary Q3 2024 metrics indicate expected net sales growth of 30% to 35% year-over-year, driven by increased retail consumption. However, supply was constrained due to working capital limitations. Stryve anticipates significant year-over-year improvement in gross margin despite higher beef prices.
CEO Chris Boever expressed confidence in the company's strategy and product offerings, citing strong sales growth and margin improvement as key components of their path to profitability. Stryve's air-dried snacks, with zero sugar and high protein content, continue to resonate with health-conscious consumers.
Preliminary Q3 2024 metrics indicate expected net sales growth of 30% to 35% year-over-year, driven by increased retail consumption. However, supply was constrained due to working capital limitations. Stryve anticipates significant year-over-year improvement in gross margin despite higher beef prices.
CEO Chris Boever expressed confidence in the company's strategy and product offerings, citing strong sales growth and margin improvement as key components of their path to profitability. Stryve's air-dried snacks, with zero sugar and high protein content, continue to resonate with health-conscious consumers.
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