Stryve Foods, Inc. Announces New and Expanded Distribution with Leading Retailers Including BJ's Wholesale Club and Previews Preliminary Q3 2024 Select Financial Metrics

Core Insights - Stryve Foods, Inc. has announced new distribution agreements with major retailers, indicating a rise in consumer demand for its healthy, high-protein snack brands [1][2][3] Distribution Expansion - The company has successfully completed a product rotation in Costco's Southeast Region, which has contributed to its growth in the club channel [2] - Stryve's products are now available in select BJ's Wholesale Club locations, marking a significant achievement in expanding its wholesale club presence [2][3] - Additional distribution has been secured with various retailers including Circle K Coastal, Wawa, Lowe's Grocery, and others, enhancing the availability of Stryve's premium air-dried snacks nationwide [3][4] Retail Performance - Stryve's brands are experiencing impressive growth in retail velocity, consistently outperforming the broader meat snack category [3] - The company has expanded distribution with existing partners such as Sprouts, CVS, and The Fresh Market, indicating strong consumer performance at retail [4] Financial Performance - Preliminary insights for Q3 2024 indicate expected net sales growth of 30% to 35% year-over-year, driven by increased retail consumption [5] - Despite facing working capital constraints, Stryve anticipates a significant year-over-year improvement in gross margin for the quarter, even with higher beef prices [5][6] - The company's ability to maintain sales growth and margin improvement in a challenging inflationary environment highlights the strength of its strategy and product offerings [6] Product Attributes - Stryve's air-dried snacks are marketed as healthier alternatives, containing zero grams of sugar and no artificial ingredients, appealing to health-conscious consumers [6][8] - The product portfolio includes brands like Stryve, Kalahari, and Vacadillos, which are designed to disrupt traditional snacking categories with lower sugar and higher protein content [8]