Want Fries with That? Beyond Meat’s Sales Plunge as Consumers Reject Vegan Alternative
Vegan food maker Beyond Meat has seen its sales crash by almost a third as consumers reject its hyper-processed, plant-based products despite substantial price cuts and claims its customers can “positively affect the planet.”
The El Segundo, California-based meat substitute maker says net revenues fell by 30.5 percent for the three months to the end of June, compared to a year earlier, while shares of the company fell by almost 12 percent in extended trading in New York.
Beyond Meat now expects revenue between $360 million and $380 million for the year, AP reports . That’s down from […]
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