Beyond Meat falls short in Q4 due to weak retail demand

The Associated Press ^ | February 24, 2022 | By DEE-ANN DURBIN

[Oldeconomybuyer]

Plant-based meat company Beyond Meat said Thursday that its sales dropped in the fourth quarter due to weak U.S. retail demand.

Beyond Meat said restaurant sales are showing promise as its products roll out to more locations. Panda Express began selling Beyond Meat orange chicken at 70 U.S. locations in October, for example. Beyond Meat’s U.S. food service sales rose 35% for the quarter.

But the company said that couldn’t make up for a 19.5% decline in sales at U.S. groceries and other retailers.

In a statement, Beyond Meat President and CEO Ethan Brown said the company believes weak retail sales __ for its own products and that of competitors __ is a “temporary disruption.”

But in a research note Thursday, J.P. Morgan analyst Ken Goldman noted that Beyond Meat rival Maple Leaf Foods also reported a “pronounced slowdown” in plant-based meat sales. Maple Leaf Foods, which also reported fourth quarter earnings Thursday, said it was reevaluating plant-based meat retail sales.

[Openurmind]

GOOD!!!

[Jeff Chandler]

Beyond Lame.

[Billie Bud]

No one wants this overly processed crap

[Openurmind]

“temporary disruption.”

BS... It sucks and we meat eaters are on to your game to try and switch us.

[muir_redwoods]

Chemically pseudo-meat is almost identical to kibble

[dsat4life]

You mean folks are rejecting Bill Gates plan for meatless, anemic diets that will physically weaken people?!!

[WMarshal]

The onslaught of fake meat products all coming at once and invading the store shelves overnight had all the markings of a government campaign.

I could smell the stink of manipulation from day one.

[Leep]

Vegetarian dishes aren’t to bad if you add some meat to them.

[KevinB]

Beyond Meat orange chicken

The mind boggles.

My wife brought home "meat sesame chicken" for dinner tonight. Can't wait.

[ImJustAnotherOkie]

Nobody wants that shit.

Gimmie a slab of ribs and a BBQ chicken any day.

[Seruzawa]

Initially sales were good because of curiosity. Then people began to actually eat those things.....

[Adder]

Fell short?

Because NO ONE wants that plant crap!

GOOD!

[RushIsMyTeddyBear]

Same.

[ConservativeMind]

McPlant tastes better than their stuff.

[RushIsMyTeddyBear]

I remember years ago trying a veggie burger. They were pretty good.

I wouldn’t eat this slop....and it smells really bad.

[Trillian]

Every time there is a storm, shortage or disaster.. these are the only things left on the shelves.

[Chode]

[antidemoncrat]

Beyond Meat reminds me of the Orgasmatron in Sleeper ... just not the same thing.