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Beyond Meat's Meatballs Will Be Sold at Costco

Costco will sell Beyond Meatballs for $9.99 a bag at select stores nationwide.
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Shares of Beyond Meat  (BYND) - Get Beyond Meat, Inc. Report jumped Thursday after the company announced that its Beyond Meatballs will be sold nationwide in select Costco  (COST) - Get Costco Wholesale Corporation Report stores starting this week. 

Costco will sell the plant-based meatballs at a suggested retail price of $9.99 for two-dozen. Costco started selling the Beyond Burger in late 2019. 

Beyond Meat has been expanding its retail footprint in recent months.

Beyond Meat began selling its plant-based pork product in China in November and the company said that it will be launching two new versions of its Beyond Burger nationwide in 2021.

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The new burgers are designed to meet customers’ growing demand for plant-based proteins that deliver taste and nutrition, the company said in a statement.

In November, Beyond Meat tumbled after reporting a larger-than-expected third-quarter loss.

Beyond Meat said its adjusted loss for the three months ended in September was 28 cents a share, a huge swing from a profit of 6 cents a share a year earlier. Revenues in the period rose 2.7% to $94.4 million, but that tally fell far short of analysts' forecasts of $132.8 million as retail sales slowed following second-quarter stockpiling and restaurant traffic failed to ignite following Covid re-openings around the country.