1015 ET - Oatly says its constant currency revenue will be dented by 300 basis points in 2025 after a major North American customer decided to draw back sourcing from the oat milk company. D.A. Davidson analyst Brian Holland believes that customer was Starbucks, since the food company SunOpta said in October it expanded oat milk distribution to 6,700 of the coffee chain sites, Holland says. SunOpta has reaffirmed double digit revenue growth in 2025, while Oatly expects 2% to 4%. While it "isn't great optics," for Oatly, Holland says Starbucks was a margin dilutive customer whose partnership never had its intended effect for Oatly. Oatly slides 11% in early trading. (katherine.hamilton@wsj.com)
(END) Dow Jones Newswires
February 12, 2025 10:15 ET (15:15 GMT)
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