Beyond Meat is trying to get its sizzle back:
Industry sales have fallen amid concerns about the healthfulness of plant-based meat, and a sticker price that ...
latimes.com/business/story/2024-05-31/how-beyond-meat-lost-some-of-its-sizzle
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Key FactsBeyond Meat's Struggle to Regain Appeal
Jun 1, 2024 · Reading time: ~30 sec.
Summary created with AI assistance · Source: latimes.com
Summary created with AI assistance · Source: latimes.com
- Beyond Meat, a company from El Segundo that has experienced a sharp decline in sales, is banking on a new burger that it claims is healthier and tastier for its turnaround.
- After going public in 2019 and seeing its shares nearly triple, Beyond Meat is now facing a downturn due to concerns about the healthfulness of plant-based meat, higher prices, and the product's approximation to real meat.
- The company is betting on a newly formulated burger to reverse its fortunes, which it claims is a significant improvement in taste.
- Beyond's net revenue fell by over 25% to $343 million in 2023 compared to 2021, with an additional 18% decrease in sales in the first quarter of this year, resulting in a $54 million loss.
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global chain of hamburger fast food restaurants headquartered in Florida, United States
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