Tattooed Chef falls on loss forecast as marketing spend, inflation bite

Tattooed Chef

13/08/2021 13:41

** Shares in packaged foods maker  TTCF.O  fall 9.7% to
$18.35 premarket - on course to open at a three-month low
    ** Tattooed Chef on Thursday forecast annual adjusted loss
before interest, taxes, depreciation, and amortization of $14
million to $17 million, compared with its prior forecast of
adjusted EBITDA of $2 million to $4 million  urn:newsml:reuters.com:*:nGNXbljBff
    ** TTCF cited higher marketing and promotional spending as
well as increase in logistic costs and shortages in packaging
products for the steep forecast cut
    ** TTCF also posted a loss in what Roth Capital Partners
calls a "messy" second quarter, versus a profit a year earlier,
due to higher costs
    ** Shares down about 11% YTD

 (Reporting by Praveen Paramasivam)
 ((Praveen.Paramasivam@thomsonreuters.com;))