FX.co ★ Stryve Expects Up To 35% Growth In Q3 Sales, Announces New, Expanded Distribution; Stock Down

Stryve Foods, Inc. (SNAX) announced on Thursday that it anticipates a 30% to 35% sales increase for the third quarter, primarily driven by heightened retail demand for its products. Despite this growth, supply has been somewhat limited by working capital constraints. The producer of air-dried meat snacks forecasts an improved gross margin for the quarter, even amidst rising beef prices. Additionally, Stryve is expanding its distribution network, securing partnerships with major retailers such as BJ's Wholesale Club. The company has also strengthened its distribution with existing partners like Sprouts, CVS, and QuikChek, and gained new agreements with Circle K Coastal, Wawa, Lowe's Grocery, and Dierbergs. At present, Stryve’s stock is down by 18.97%, trading at $1.07 on the Nasdaq.