Beyond Meat beats Q4 forecasts despite flagging sales
1 year, 10 months ago

Beyond Meat beats Q4 forecasts despite flagging sales

Associated Press  

Beyond Meat on Thursday reported better-than-expected fourth quarter sales despite flagging consumer demand and lower prices. Beyond Meat President and CEO Ethan Brown said the company is seeing progress in its drive to cut costs and manufacturing complexity. Brown also said Beyond Meat plans new products with improved taste this year. Beyond Meat said it expects net revenue in the range of $375 million to $415 million this year, which would be lower than the $418 million in reported in 2022.

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History of this topic

Beyond Meat reverses revenue slide by raising prices on its plant-based products
1 month, 2 weeks ago

Beyond Meat reverses revenue slide by raising prices on its plant-based products

Associated Press  

Beyond Meat reversed a sales slide in the third quarter, growing revenue for the first time since 2022 as it charged higher prices for its plant-based meat. Still, Beyond Meat’s shares fell nearly 6% in after-hours trading after it said it expects full-year net revenue in the range of $320 million to $330 million. Unlike previous products, Beyond Meat said …

Beyond Meat Is Stalling in the US. Europe Could Be Another Story
54 years, 11 months ago

Beyond Meat Is Stalling in the US. Europe Could Be Another Story

Wired  

The plant-based meat industry is in a bad place. “We are encouraged by many of the results we see this quarter, results that demonstrate clear progress against our 2024 plan and our longer-term goal of profitable operations,” Beyond Meat CEO Ethan Brown told investors in an earnings call Wednesday. In the UK, McDonald’s has sold McPlant burgers with Beyond Meat …

How Beyond Meat is trying to get its sizzle back
6 months, 3 weeks ago

How Beyond Meat is trying to get its sizzle back

LA Times  

A package of Beyond Meat’s new burger, which contains less saturated fat and sodium than previous versions. “We thought we were just gonna go from our meteoric rise into the mainstream and not have to deal with this cycle that we’re in,” said Beyond Meat founder and Chief Executive Ethan Brown in an interview at the company’s new El Segundo …

Beyond Meat urges investors to look past bumpy Q1, says new US burger could reignite sales
7 months, 2 weeks ago

Beyond Meat urges investors to look past bumpy Q1, says new US burger could reignite sales

Associated Press  

Plant-based meat maker Beyond Meat urged investors to look past its mixed first quarter results Wednesday, saying a new, healthier burger hitting U.S. shelves now will help reignite weak sales. International retail sales fell 12%, reflecting lower demand for plant-based chicken, Beyond Meat said. Beyond Meat said it was a tough comparison to the first quarter of 2023, when Beyond …

Can a healthier plant-based burger combat falling US sales? Beyond Meat hopes so
10 months ago

Can a healthier plant-based burger combat falling US sales? Beyond Meat hopes so

Associated Press  

Beyond Meat is revamping its signature plant-based burger, hoping that healthier ingredients will help it boost flagging U.S. sales. The El Segundo, California-based company said Wednesday its new Beyond Burger patties and Beyond Beef grounds cut saturated fat by 60% by switching from canola and coconut oils to avocado oil. The new Beyond Burger also has less saturated fat and …

Beyond Meat revenue falls as rising demand in Europe can’t overcome plummeting US sales
1 year, 1 month ago

Beyond Meat revenue falls as rising demand in Europe can’t overcome plummeting US sales

Associated Press  

Beyond Meat’s revenue fell nearly 9% in the third quarter as higher sales of its plant-based meat in Europe failed to make up for plummeting demand in the U.S. Beyond Meat cut its third-quarter and full-year revenue forecast last week, saying an anticipated rebound in plant-based meat sales during the quarter didn’t occur. Beyond Meat’s international retail sales rose 39% …

Beyond Meat cuts non-production workforce by 19% with demand for plant-based meat weak
1 year, 1 month ago

Beyond Meat cuts non-production workforce by 19% with demand for plant-based meat weak

Associated Press  

Beyond Meat is cutting 19% of its non-production workforce after a weaker-than-expected third quarter. “We anticipated a modest return to growth in the third quarter of 2023 that did not occur,” Beyond Meat President and CEO Ethan Brown said in a statement. U.S. retail dollar sales of fresh meat alternatives, like sausage and burgers, were down 21.5% this year through …

Beyond Meat revenue plummets in the second quarter due to flagging US demand
1 year, 4 months ago

Beyond Meat revenue plummets in the second quarter due to flagging US demand

Associated Press  

Plant-based meat substitute maker Beyond Meat said its revenue plunged 30.5% in the second quarter as consumer demand for its burgers, sausages and other products fell despite price cuts. In a conference call with investors, Beyond Meat President and CEO Ethan Brown said the company faced tough comparisons to the second quarter of 2022, when a new beef jerky product …

Internal documents detail dirty conditions at Beyond Meat plant
2 years, 1 month ago

Internal documents detail dirty conditions at Beyond Meat plant

LA Times  

Photos and internal documents from a Beyond Meat Inc. plant in Pennsylvania show apparent mold, listeria and other food-safety issues, compounding problems at a factory the company had expected to play a major role in its future. Inspections by the Pennsylvania Department of Agriculture in March and September “found no instances of nonconformance with regulations,” and the company’s food-safety protocols …

Beyond Meat exec departs amid job cuts, slowing sales
2 years, 2 months ago

Beyond Meat exec departs amid job cuts, slowing sales

Associated Press  

The Beyond Meat executive charged with biting a man’s nose during a fight last month left the plant-based meat company Friday amid a larger round of job cuts as the company seeks tries to offset a decline in sales. The news came as Beyond Meat announced a second round of job cuts and trimmed its revenue expectations for the year. …

Beyond Meat cuts jobs as demand cools for alternative proteins
2 years, 2 months ago

Beyond Meat cuts jobs as demand cools for alternative proteins

LA Times  

Two patties of Beyond Meat’s meatless burger cook in a skillet. Retail sales of refrigerated meat alternatives fell almost 11% in the 12 months that ended Oct. 2 from the previous period. Beyond Meat asked employees to work from home Thursday and restricted access to documents, according to some of the people, who asked not to be named because they …

Beyond Meat announces layoffs after lower Q2 sales
2 years, 4 months ago

Beyond Meat announces layoffs after lower Q2 sales

Associated Press  

Plant-based meat maker Beyond Meat said Thursday it’s laying off 4% of its workforce after a difficult second quarter that saw cost-conscious customers bypass its higher-priced products. Beyond Meat President and CEO Ethan Brown said customers dealing with food price inflation traded down to cheaper store brands of plant-based meat or bought animal meat. Brown said Beyond Meat’s ground beef …

Tricking the Taste Buds: Flavour Makers Rise to Meaty Challenge Amid Concerns Over Health, Animal Welfare
4 years, 1 month ago

Tricking the Taste Buds: Flavour Makers Rise to Meaty Challenge Amid Concerns Over Health, Animal Welfare

News 18  

At flavour maker Givaudan’s innovation centre near Zurich, veteran chef Sam Brunschweiler serves up a lamb shawarma dish that looks and tastes appropriately meaty but is made from pea protein. Givaudan analyses how fat, proteins, sugars and water in meat produce different flavours when heated because “most of the flavour comes from the cooking”, Garofalo said. Stacy Pyett, who manages …

Alibaba's Hema supermarkets start selling Beyond Burger in Shanghai
4 years, 5 months ago

Alibaba's Hema supermarkets start selling Beyond Burger in Shanghai

China Daily  

Beyond Meat's patties hit the freezers in Shanghai supermarkets last week as the US maker of plant-based beef substitutes makes further inroads into the world's largest market for meat. The new tie-up brings Beyond Meat and Chinese tech giant Alibaba together to sell the Beyond Burger in 50 Hema supermarkets in Shanghai starting this week, with further expansion to Beijing …

Alibaba's Hema supermarkets start selling Beyond Burger in Shanghai
4 years, 5 months ago

Alibaba's Hema supermarkets start selling Beyond Burger in Shanghai

China Daily  

Beyond Meat's patties hit the freezers in Shanghai supermarkets last week as the US maker of plant-based beef substitutes makes further inroads into the world's largest market for meat. The new tie-up brings Beyond Meat and Chinese tech giant Alibaba together to sell the Beyond Burger in 50 Hema supermarkets in Shanghai starting this week, with further expansion to Beijing …

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