Beyond Meat Rolls Out a Steak Substitute in Walmart, Kroger Stores
Beyond Meat is rolling out a steak substitute.
Photo:
Beyond Meat
Beyond Meat Inc., the plant-based company struggling with a sales decline, is launching a steak substitute.
The steak product will be available at
Walmart Inc.
WMT 1.32%
and
Kroger Co.
KR -1.25%
grocery stores as well as
Albertsons
ACI -0.95%
Cos. and other retailers.
Beyond Meat sells meatless products, such as burgers and meatballs, in grocery stores and to restaurants.
Beyond Meat cut its revenue outlook for the year and announced layoffs of about 20% of its workforce in October, citing lower demand for its products and the effects of competition on its sales.
It also recently parted ways with top executives including
Doug Ramsey,
its former chief operating officer, who was arrested in Arkansas in late September for allegedly biting a man’s nose and threatening to kill him.
Its stock price has dropped by more than 80% in the past year.
Write to Ginger Adams Otis at [email protected]
Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Beyond Meat is rolling out a steak substitute.
Photo:
Beyond Meat
Beyond Meat Inc., the plant-based company struggling with a sales decline, is launching a steak substitute.
The steak product will be available at
Walmart Inc.
WMT 1.32%
and
Kroger Co.
KR -1.25%
grocery stores as well as
Albertsons
ACI -0.95%
Cos. and other retailers.
Beyond Meat sells meatless products, such as burgers and meatballs, in grocery stores and to restaurants.
Beyond Meat cut its revenue outlook for the year and announced layoffs of about 20% of its workforce in October, citing lower demand for its products and the effects of competition on its sales.
It also recently parted ways with top executives including
Doug Ramsey,
its former chief operating officer, who was arrested in Arkansas in late September for allegedly biting a man’s nose and threatening to kill him.
Its stock price has dropped by more than 80% in the past year.
Write to Ginger Adams Otis at [email protected]
Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – [email protected]. The content will be deleted within 24 hours.