{"id":1993793,"date":"2023-08-07T22:23:02","date_gmt":"2023-08-08T02:23:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/beyond-meat-revenue-plummets-as-americans-flat-out-reject-companys-products\/"},"modified":"2023-08-07T22:26:48","modified_gmt":"2023-08-08T02:26:48","slug":"beyond-meat-revenue-plummets-as-americans-flat-out-reject-companys-products","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/beyond-meat-revenue-plummets-as-americans-flat-out-reject-companys-products\/","title":{"rendered":"Beyond Meat&#8217;s revenue takes a nosedive as Americans outright reject their products."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbeyond-meat-revenue-plummets-as-americans-flat-out-reject-companys-products%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1993793&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Beyond Meat Faces Revenue Plunge as Consumer Demand Drops<\/h2>\n<p>The\u200d plant-based meat\u200b substitute maker, Beyond Meat, has reported a \u2063significant decline in revenue \u2063for the second quarter. \u2063Despite price\u200d cuts,\u200d <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/3-recent-failures-of-green-energy-policies\/\" title=\"3 Recent Failures of Green Energy Policies\">consumer demand<\/a> for its burgers, sausages, and other products fell, resulting in\u2062 a\u200d 30.5 percent decrease in revenue.<\/p>\n<p>This decline has led \u200cthe California-based company\u2063 to revise its full-year revenue \u2064forecast. Beyond\u2064 Meat now <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/delta-warns-of-rising-costs-after-missing-earnings-estimates\/\" title=\"Delta warns of rising costs after missing earnings estimates\">expects revenue<\/a> between $360 million and\u2062 $380 million for the year,\u200c down from the $375 million to \u2064$415 million forecasted\u200c earlier.<\/p>\n<p>Following\u200b this news, Beyond \u2062Meat&#8217;s\u200c shares fell 10 percent in after-hours trading on Monday.<\/p>\n<h3>Challenges and Strategies<\/h3>\n<p>In a\u2064 conference call with investors, Beyond Meat&#8217;s\u200c President and CEO, Ethan Brown, highlighted the \u200cchallenges the company is facing. He mentioned \u200btough comparisons to the second quarter of 2022, when a new beef jerky product generated sales and restaurants were reopening and placing significant orders.<\/p>\n<p>However, \u200bBrown \u2063also acknowledged that the company is struggling to attract new customers due to perceptions \u200dthat its products are \u200bunhealthy and \u200doverly\u200d processed. To\u2063 address this, Beyond Meat \u200bplans to launch\u200b an aggressive\u200b marketing campaign to\u2063 better explain its &#8220;clean and simple&#8221; manufacturing process and emphasize the health benefits of its products.<\/p>\n<p>Brown also revealed that Beyond Meat has reached out\u200b to some competitors to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/beyond-meat-revenue-plummets-as-americans-flat-out-reject-companys-products\/\" title=\"Beyond Meat's revenue takes a nosedive as Americans outright reject their products.\">explore \u2063collaborative advertising efforts aimed<\/a> \u2062at changing perceptions about \u2063the plant-based \u200dmeat category.<\/p>\n<h3>Financial Performance<\/h3>\n<p>For the April-June period, Beyond Meat reported revenue \u2064of $102.1 million, falling \u2064short of the $108.7 million Wall Street forecast. U.S. revenue experienced \u200ca 40 percent drop, with both retail and food service sales \u2062weakening. International revenue \u200balso declined\u2062 by 8.7 percent,\u200c with <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/disney-closing-60-bricks-and-mortar-stores\/\" title=\"Disney Closing 60 Bricks-And-Mortar Stores\">retail sales<\/a> down nearly 16\u2063 percent.<\/p>\n<p>Despite these challenges, Beyond Meat managed \u200cto narrow\u2063 its <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidens-climate-agenda-wont-replace-jobs-it-seeks-to-kill-separate-ap-wapo-fact-checks-suggest\/\" title=\"Biden\u2019s Climate Agenda Won\u2019t Replace Jobs It Seeks To Kill, Separate AP, WaPo Fact-Checks Suggest\">net loss<\/a> to $53.5 million, or 83 cents per\u2062 share, by controlling \u2063logistics and manufacturing costs. This result was slightly \u2064better\u200b than the\u2063 84-cent loss predicted by analysts.<\/p>\n<h3>Future Outlook<\/h3>\n<p>Looking ahead, Brown expressed confidence in \u200dthe company&#8217;s growth prospects. He expects\u200c revenue to increase modestly in the second\u200d half \u200cof\u2064 the year as new products enter the U.S.\u2064 market \u200band international \u200ddistribution expands.<\/p>\n<p>&#8220;We are very excited to be coming out of what we view as a trough in\u200d the category\u200d and resuming growth in the third and \u200dfourth\u200c quarter,&#8221;\u2062 Brown stated.<\/p>\n<p style=\"font-style: italic\">The\u200b Western Journal has reviewed\u200c this Associated Press story\u200d and \u2064may have altered it\u200d prior to publication to ensure that it meets our editorial standards.<\/p>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/www.westernjournal.com\/ap-beyond-meat-revenue-plummets-americans-flat-reject-companys-products\/\">Beyond \u200dMeat Revenue Plummets as Americans Flat-Out \u2064Reject Company&#8217;s Products<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/www.westernjournal.com\">The Western Journal<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Plant-based meat substitute maker Beyond Meat reported a 30.5% drop in Q2 revenue due to decreased consumer demand, despite reducing prices. Consequently, the California-based company has revised its full-year revenue forecast, expecting it to range between $360 million and $380 million.<\/p>\n","protected":false},"author":136,"featured_media":1993794,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[548],"tags":[],"class_list":["post-1993793","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-conservative-news-daily"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1993793","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/136"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1993793"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1993793\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1993794"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1993793"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1993793"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1993793"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}