Beyond Meat Introduces Steak Analog
October 24, 2022
Beyond Meat has had challenges with stock price and general image – “..former chief operating officer, who was arrested in Arkansas in late September for allegedly biting a man’s nose ..”
Get that man some protein, for gosh sakes.
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 1.94%▲ and Kroger Co.KR -0.17%▼ grocery stores as well as Albertsons Cos. ACI -0.64%▼ 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.