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

(RTTNews) - Stryve Foods, Inc. (SNAX), Thursday announced that the company expects sales for the third quarter to increase by 30 to 35 percent, primarily due to increased retail consumption of its products.

However, the supply was partially constrained due to working capital limitations.

The air-dried meat snack company expects improved gross margin for the quarter, despite higher beef prices.

Also, Stryve has announced a new and expanded distribution with major retailers, including BJ's Wholesale Club.

Recently, the company has expanded its distribution with existing retail partners such as Sprouts, CVS, and QuikChek, and secured new distribution with retailers like Circle K Coastal, Wawa, Lowe's Grocery, and Dierbergs.

Currently, Stryve's stock is moving down 18.97 percent, to $1.07 on the Nasdaq.