( ) -q-23- UNDATED (Correspondent Jeremy House) “and overly processed.” Beyond Meat said its revenue plunged 30.5% in the second quarter as consumer demand for its plant-based meat substitute fell despite price cuts. [CutID: <Cuts> BEYOND-MEAT-REVENUE-house-q-TUEam.mp3 Time: 23s Title: BEYOND-MEAT-REVENUE-house-q-TUEam Out-cue: and overly processed] TAG: Correspondent Jeremy House reporting. Brown said Beyond Meat hopes to […]
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Beyond Meat revenue plummets in the second quarter due to flagging US demand
( ) -q-23- UNDATED (Correspondent Jeremy House) “and overly processed.”
Beyond Meat said its revenue plunged 30.5% in the second quarter as consumer demand for its plant-based meat substitute fell despite price cuts.
[CutID: <Cuts> BEYOND-MEAT-REVENUE-house-q-TUEam.mp3
Time: 23s
Title: BEYOND-MEAT-REVENUE-house-q-TUEam
Out-cue: and overly processed]
TAG: Correspondent Jeremy House reporting. Brown said Beyond Meat hopes to change that perception with a new ad campaign that launched last week.
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VERBATIM: The El Segundo, California-based company lowered its full-year revenue forecast as a result. For the April-to-June period, Beyond Meat reported revenue of $102.1 million, which was lower than Wall Street forecast. Beyond Meat President and CEO Ethan Brown said the company is struggling to appeal to new customers because of perceptions that its products are unhealthy and overly processed.