Beyond Meat reports narrow-than-expected quarterly loss despite sinking sales
Publishing timestamp: 2023-02-23 18:56:51
Summary
Beyond Meat reported narrower-than-expected loss and stronger sales than Wall Street anticipated for its fourth quarter, but sales still dropped more than 20%. The company is prioritizing becoming cash-flow positive above growing sales of its meat alternatives. In response to weak demand, Beyond Meat has offered its products at discounts and is restructuring its operating activities. Other plant-based meat companies have had to make similar decisions.
Sentiment: MIXED
Keywords: restaurants, retail industry, business, kellogg co, ethan brown, breaking news: business, business news, food and drink, beyond meat inc, earnings, pepsico inc., markets,
Source: https://www.cnbc.com/2023/02/23/beyond-meat-bynd-q4-2022-earnings.html