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The challenges Beyond Meat faces continue to be formidable. Second quarter sales fell 8.8% from the prior year to $93.2 million, led by an 18.9% drop among food service partners in the US.
The El Segundo company, which has seen its sales drop sharply, is banking its turnaround on a new burger that it says is healthier and tastier.
Analysts expect Beyond Meat to report $66.7 million in sales for the fourth quarter of 2023, down 17.4% year over year. In last year's fourth quarter, Beyond Meat's sales dropped 20.6% year over year.
It's been a difficult few years for Beyond Meat's (NASDAQ: BYND) stock, which is down 96% over the past five years, including falling 23% year to date.. The company recently received more negative ...
Beyond Meat president and CEO Ethan Brown said in a statement that the company is reducing its revenue outlook to between $360 million and $380 million for 2023, a decrease of about 9% to 14% ...
Beyond Meat also announced the launch in China of a plant-based version of minced pork. [41] In 2020, Beyond Meat launched an e-commerce site to sell products directly to consumers. [42] In January 2021, Taco Bell announced a collaboration with Beyond Meat, initially as a test and then as a permanent option for a new plant-based protein food. [43]
IN FOCUS: Sales at the vegan food manufacturer Beyond Meat have plummeted, while brands including Nestlé, Pret and Oatly have cut back on their expensive vegan ranges. The cost-of-living crisis ...
Beyond Meat also said it now expects full-year net revenue in the range of $330 million to $340 million, which would be 19% to 21% lower than the previous year. Wall Street had expected full-year ...