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.
Stryve Foods, Inc. (NASDAQ: SNAX) ha annunciato una nuova ed ampliata distribuzione con importanti rivenditori, tra cui BJ's Wholesale Club. Questo segue una rotazione di prodotto di successo nella regione sud-est di Costco durante il secondo trimestre. L'azienda ha assicurato nuova distribuzione con rivenditori come Circle K Coastal, Wawa e Lowe's Grocery, espandendo nel contempo la sua presenza con partner già esistenti come Sprouts e CVS.
I primi dati del terzo trimestre del 2024 indicano una prevista crescita delle vendite nette del 30% al 35% rispetto all'anno precedente, guidata dall'aumento del consumo al dettaglio. Tuttavia, l'offerta è stata limitata a causa delle restrizioni sul capitale circolante. Stryve prevede un significativo miglioramento anno su anno del margine lordo nonostante i prezzi più alti della carne.
Il CEO Chris Boever ha espresso fiducia nella strategia dell'azienda e nelle sue offerte di prodotto, citando una forte crescita delle vendite e un miglioramento del margine come componenti chiave della loro strada verso la redditività. Gli snack disidratati aerea di Stryve, con zero zucchero e alto contenuto proteico, continuano a risuonare con i consumatori attenti alla salute.
Stryve Foods, Inc. (NASDAQ: SNAX) anunció una nueva y ampliada distribución con importantes minoristas, incluidos BJ's Wholesale Club. Esto sigue a una exitosa rotación de productos en la región sureste de Costco durante el segundo trimestre. La compañía aseguró nueva distribución con minoristas como Circle K Coastal, Wawa y Lowe's Grocery, mientras ampliaba su presencia con socios existentes como Sprouts y CVS.
Los datos preliminares del tercer trimestre de 2024 indican un crecimiento en las ventas netas del 30% al 35% interanual, impulsado por el aumento del consumo minorista. Sin embargo, el suministro se vio limitado debido a restricciones en el capital de trabajo. Stryve anticipa una mejora significativa año tras año en el margen bruto, a pesar de los precios más altos de la carne.
El CEO Chris Boever expresó confianza en la estrategia de la compañía y en su oferta de productos, citando un fuerte crecimiento en las ventas y una mejora en el margen como componentes clave en su camino hacia la rentabilidad. Los snacks deshidratados al aire de Stryve, con cero azúcar y alto contenido de proteínas, siguen resonando entre los consumidores preocupados por la salud.
Stryve Foods, Inc. (NASDAQ: SNAX)는 BJ's Wholesale Club를 포함한 주요 소매업체와의 새로운 배급 확대를 발표했습니다. 이는 코스트코의 동남부 지역에서 성공적인 제품 회전이 있었던 2분기에 이어진 것입니다. 회사는 Circle K Coastal, Wawa, Lowe's Grocery와 같은 소매업체와의 새로운 배급을 확보했으며, 기존 파트너인 Sprouts와 CVS와의 관계를 확장했습니다.
2024년 3분기 초기 데이터는 연간 30%에서 35%의 순매출 성장이 예상되며, 이는 소매 소비 증가에 따른 것입니다. 그러나 공급은 작업 자본 제한으로 인해 제약을 받았습니다. Stryve는 높은 소고기 가격에도 불구하고 연간 총 마진의 중요한 개선을 예상하고 있습니다.
CEO Chris Boever는 회사의 전략과 제품 제공에 대한 자신감을 표현하며, 강력한 매출 성장과 마진 개선을 수익성으로 가는 핵심 요소로 언급했습니다. Stryve의 무첨가 당분 및 높은 단백질 함유량의 에어 드라이드 스낵은 건강에 민감한 소비자들과 여전히 잘 어우러지고 있습니다.
Stryve Foods, Inc. (NASDAQ: SNAX) a annoncé une nouvelle et élargie distribution avec de grands détaillants, y compris BJ's Wholesale Club. Cela fait suite à une rotation de produits réussie dans la région sud-est de Costco au cours du deuxième trimestre. L'entreprise a sécurisé une nouvelle distribution avec des détaillants tels que Circle K Coastal, Wawa et Lowe's Grocery, tout en élargissant sa présence avec des partenaires existants comme Sprouts et CVS.
Les premiers indicateurs du troisième trimestre 2024 montrent une croissance des ventes nettes de 30% à 35% d'une année sur l'autre, stimulée par une consommation au détail accrue. Cependant, l'offre a été contrainte en raison de limitations de capital de travail. Stryve anticipe une amélioration significative de la marge brute d'une année sur l'autre, malgré des prix de la viande plus élevés.
Le PDG Chris Boever a exprimé sa confiance dans la stratégie de l'entreprise et ses offres de produits, citant une forte croissance des ventes et une amélioration des marges comme éléments clés de leur chemin vers la rentabilité. Les collations séchées à l'air de Stryve, sans sucre et à haute teneur en protéines, continuent de séduire les consommateurs soucieux de leur santé.
Stryve Foods, Inc. (NASDAQ: SNAX) gab eine neue und erweiterte Vertriebspartnerschaft mit großen Einzelhändlern bekannt, darunter BJ's Wholesale Club. Dies folgt auf eine erfolgreiche Produktrotation in der Südostregion von Costco im 2. Quartal. Das Unternehmen sicherte sich neue Vertriebswege mit Einzelhändlern wie Circle K Coastal, Wawa und Lowe's Grocery und erweiterte gleichzeitig die Präsenz bei bestehenden Partnern wie Sprouts und CVS.
Die vorläufigen Kennzahlen für das 3. Quartal 2024 zeigen ein erwartetes Umsatzwachstum von 30% bis 35% im Jahresvergleich, getrieben durch den Anstieg des Einzelhandelskonsums. Die Versorgung war jedoch aufgrund von Beschränkungen im Betriebskapital eingeschränkt. Stryve erwartet eine signifikante Verbesserung des Bruttomargins im Jahresvergleich, trotz höherer Rinderpreise.
CEO Chris Boever äußerte Vertrauen in die Unternehmensstrategie und die Produktangebote und nannte das starke Umsatzwachstum sowie die Verbesserung der Marge als wesentliche Bestandteile des Weges zur Rentabilität. Stryves luftgetrocknete Snacks, die keinen Zucker und einen hohen Proteingehalt aufweisen, kommen bei gesundheitsbewussten Verbrauchern gut an.
- New distribution secured with BJ's Wholesale Club and other major retailers
- Expected Q3 2024 net sales growth of 30% to 35% year-over-year
- Anticipated significant year-over-year improvement in gross margin
- Expanded distribution with existing retail partners
- Strong retail velocity outpacing the broader meat snack category
- Supply constrained due to working capital limitations
- Higher beef prices compared to the prior year
Insights
The new distribution deals with major retailers like BJ's Wholesale Club and expanded presence in existing channels are significant positive developments for Stryve Foods. This broader retail footprint should drive substantial revenue growth and brand exposure. The preliminary Q3 2024 results, showing
The expected improvement in gross margin, even with higher beef prices, suggests effective cost management and pricing power. However, the mention of "liquidity constraints" and ongoing capital raising efforts indicates potential financial challenges that investors should monitor closely.
While the growth trajectory is promising, Stryve's small market cap of
Stryve Foods is capitalizing on the growing consumer demand for healthy, high-protein snacks. The expansion into BJ's Wholesale Club and other retailers indicates strong market acceptance of their products. The outperformance of Stryve's brands compared to the broader meat snack category suggests they're successfully differentiating themselves in a competitive market.
The diverse range of new retail partnerships across various channels (convenience stores, grocers, wholesale clubs) demonstrates the brand's versatility and broad appeal. This multi-channel strategy could help insulate the company from sector-specific downturns and provide multiple growth avenues.
However, the supply constraints mentioned are a concern. If Stryve can't meet demand, it risks losing shelf space to competitors. Resolving these supply chain issues should be a top priority to fully capitalize on the apparent market opportunity.
FRISCO, Texas, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Stryve Foods, Inc. (“Stryve” or “the Company”) (NASDAQ: SNAX), a pioneer in creating healthy and convenient protein snacks, today announced new and expanded distribution wins with a range of marquee retailers, reflecting the growing consumer demand for its healthy, high-protein snack brands, including Stryve, Vacadillos, and Kalahari.
This announcement follows the successful completion of a product rotation in Costco’s Southeast Region during the second quarter, which contributed significantly to the Company’s momentum in the club channel. Building on this momentum, Stryve is excited to share that its products are now available in select BJ’s Wholesale Club (“BJ’s”) locations. BJ's represents an important achievement for the Company as it continues to expand its footprint in the wholesale club space, providing members with access to Stryve's high-quality, better-for-you snacks.
“We are thrilled to deepen our relationship with club retailers like BJ’s Wholesale Club, especially following the success we’ve had with Costco in the Southeast,” said Chris Boever, CEO of Stryve Foods, Inc. “Our brands—Stryve, Vacadillos, and Kalahari—are all seeing impressive growth in retail velocity, consistently outpacing the broader meat snack category. We believe this momentum, paired with our focus on superior product attributes and strong consumer demand, positions us well to continue securing new distribution opportunities, driving quality growth.”
In addition to BJ’s, Stryve has recently secured new distribution with other prominent retailers across several channels of trade, including Circle K Coastal, Wawa, Lowe’s Grocery, Dierbergs, TrueNorth, G&M, Homeland, SPINX, Rotten Robbies, Global Partners, and Leiszler Oil. These new placements bring the Company’s premium air-dried snacks to even more consumers nationwide.
The Company has also expanded distribution with several existing retail partners, which is another indicator of how well the Company’s brands are performing with consumers when on shelf at retail. Retailers who have recently expanded distribution of the Company’s products include Sprouts, CVS, QuikChek, The Fresh Market, NCD, SPECS, Jimbo’s, and Hot Spot among others. This increased presence will further strengthen Stryve's position in the marketplace, helping more consumers discover and enjoy its better-for-you meat snacks.
Preliminary Q3 2024 Select Financial Metrics1
Stryve is also pleased to share preliminary insights into its third quarter 2024 performance. Based on initial data, the Company expects net sales for Q3 to reflect year-over-year growth of
“Our ability to deliver strong sales growth, despite our liquidity constraints, while maintaining margin improvement, even in a challenging inflationary environment, underscores the strength of our strategy and the value of our differentiated product offerings,” added Boever. “We are confident that this momentum will translate into continued distribution gains resulting in meaningful revenue growth—a key component of our path to profitability. We believe that the capital we are raising will allow us to deliver on that promise.”
Stryve’s unique air-dried snacks continue to resonate with consumers seeking high-protein, better-for-you alternatives. With zero grams of sugar, no artificial ingredients, and more protein per ounce than traditional beef jerky, Stryve’s brands offer a clean, delicious option for today’s health-conscious shoppers. The Company remains committed to its mission of helping Americans snack better, and this latest round of retail partnerships is a testament to the appeal of its products.
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1 These estimates represent the most current information available to management and could change. Our third quarter financial closing and financial statement preparation process has not been completed. As a result, our actual financial results could be different, and those differences could be material.
About Stryve Foods, Inc.
Stryve is a premium air-dried meat snack company that is conquering the intersection of high protein, great taste, and health under the brands of Braaitime, Kalahari, Stryve, and Vacadillos. Stryve sells highly differentiated healthy snacking and food products in order to disrupt traditional snacking and CPG categories. Stryve’s mission is “to help Americans eat better and live happier, better lives.” Stryve offers convenient products that are lower in sugar and carbohydrates and higher in protein than other snacks and foods. Stryve’s current product portfolio consists primarily of air-dried meat snack products marketed under the Stryve®, Kalahari®, Braaitime®, and Vacadillos® brand names. Unlike beef jerky, Stryve’s all-natural air-dried meat snack products are made of beef and spices, are never cooked, contain zero grams of sugar*, and are free of monosodium glutamate (MSG), gluten, nitrates, nitrites, and preservatives. As a result, Stryve’s products are Keto and Paleo diet friendly. Further, based on protein density and sugar content, Stryve believes that its air-dried meat snack products are some of the healthiest shelf-stable snacks available today. Stryve also markets and sells human-grade pet treats under the brands Two Tails and High Steaks, made with simple, all-natural ingredients and
Stryve distributes its products in major retail channels, primarily in North America, including grocery, convenience store, mass merchants, and other retail outlets, as well as directly to consumers through its ecommerce websites and through the Amazon and Walmart platforms. For more information about Stryve Foods, Inc., visit www.ir.stryve.com.
* All Stryve Biltong and Vacadillos products contain zero grams of added sugar, with the exception of the Chipotle Honey flavor of Vacadillos, which contains one gram of sugar per serving.
Cautionary Note Regarding Forward-Looking Statements
Certain statements made herein are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate”, “may”, “will”, “would”, “could”, “intend”, “aim”, “believe”, “anticipate”, “continue”, “target”, “milestone”, “expect”, “estimate”, “plan”, “outlook”, “objective”, “guidance” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters, including, but not limited to, statements regarding Stryve’s expected results for the third quarter of 2024, statements regarding Stryve’s plans, strategies, objectives, targets and expected financial performance. These forward-looking statements reflect Stryve’s current views and analysis of information currently available. This information is, where applicable, based on estimates, assumptions and analysis that Stryve believes, as of the date hereof, provide a reasonable basis for the information and statements contained herein. These forward-looking statements involve various known and unknown risks, uncertainties and other factors, many of which are outside the control of Stryve and its officers, employees, agents and associates. These risks, uncertainties, assumptions and other important factors, which could cause actual results to differ materially from those described in these forward-looking statements, include: (i) the inability to achieve profitability due to commodity prices, inflation, supply chain interruption, transportation costs and/or labor shortages; (ii) the ability to meet financial and strategic goals, which may be affected by, among other things, competition, supply chain interruptions, the ability to pursue a growth strategy and manage growth profitability, maintain relationships with customers, suppliers and retailers and retain its management and key employees; (iii) the risk that retailers will choose to limit or decrease the number of retail locations in which Stryve’s products are carried or will choose not to carry or not to continue to carry Stryve’s products; (iv) the possibility that Stryve may be adversely affected by other economic, business, and/or competitive factors; (v) the effect of the COVID-19 pandemic on Stryve; (vi) the possibility that Stryve may not achieve its financial outlook; (vii) risks around the Company’s ability to continue as a going concern and (viii) other risks and uncertainties described in the Company’s public filings with the SEC. Actual results, performance or achievements may differ materially, and potentially adversely, from any projections and forward-looking statements and the assumptions on which those projections and forward-looking statements are based.
Investor Relations Contact:
Investor Relations
ir@stryve.com
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