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 Report jumped Thursday after the company announced that its Beyond Meatballs will be sold nationwide in select Costco  (COST) - Get 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.

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.