- Else Nutrition (TSX:BABY), a consumer staple stock focused on plant-based alternatives, is expanding its relationship with one of the world’s top retailers
- The company will offer its complete product line on the retailer’s Canadian online store beginning in August 2024
- Else develops whole plant-based and dairy-free food and nutrition products for infants, toddlers, children and adults
- Else Nutrition stock has given back 79.51 per cent since 2019
Else Nutrition (TSX:BABY), a consumer staple stock focused on plant-based alternatives, is expanding its relationship with one of the world’s top retailers, as ranked by the National Retail Federation, by offering its complete product line on the retailer’s Canadian online store beginning in August 2024.
Else’s toddler nutrition mixes, kids shake mixes, cereals and ready-to-drink nutrition shakes will benefit from exposure to more than 1.5 million daily visits to the online store, which complement a total of 403 brick-and-mortar stores across Canada.
(Source: Else Nutrition)
The expansion follows “strong and consistent growth in the United States,” according to Monday’s news release, across a partnership that spans more than 1,200 stores and dates back to 2022.
Else has grown its North American store count from a few hundred to about 14,000 since Q1 2021, while growing revenue by 17 times from C$0.55 million in 2019 to C$9.36 million in 2023. The stock has run counter to this trend, giving back almost 80 per cent since 2019.
Though the company remains unprofitable on a net income basis, ongoing global expansion and key partnerships put it on a path to scale towards lower costs and enhanced cash flow, making market pessimism a potentially outsized investment opportunity.
Leadership insights
“Expanding our Canadian presence through this retail leader is an important milestone for Else Nutrition, as it allows us to connect with a new audience of health-conscious Canadian families seeking clean, plant-based nutrition for their children,” Hamutal Yitzhak, Else Nutrition’s chief executive officer, said in a statement. “Our mission to provide healthy, sustainable alternatives for children seamlessly aligns with the retailer’s values, and we are thrilled to partner with such an influential retailer.”
About Else Nutrition
Else develops whole plant-based and dairy-free food and nutrition products for infants, toddlers, children and adults.
Else Nutrition stock (TSX:BABY) last traded at C$0.12 per share.
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(Top image: Else Nutrition)