Beyond Meat (NASDAQ: BYND), a food company that provides plant-based meat, was recently featured in an analysis report discussing the how it has been affected by the COVID-19 pandemic. The report, written by LikeFolio Founder Andy Swan, reads, “As consumers eat out less and instead fill pantries (and refrigerators), BYND is adjusting and attempting to beef up retail production to offset potential foodservice declines. (Last quarter, retail sales comprised ~58% of revenue). LikeFolio data reveals waning demand: -52% YoY.”
About Beyond Meat
Beyond Meat, Inc. (NASDAQ: BYND) is one of the fastest growing food companies in the United States, offering a portfolio of revolutionary plant-based meats. Founded in 2009, Beyond Meat has a mission of building meat directly from plants, an innovation that enables consumers to experience the taste, texture and other sensory attributes of popular animal-based meat products while enjoying the nutritional and environmental benefits of eating its plant-based meat products. Beyond Meat’s brand commitment, Eat What You Love(TM), represents a strong belief that by eating its portfolio of plant-based meats, consumers can enjoy more, not less, of their favorite meals, and by doing so, help address concerns related to resource conservation and animal welfare. Beyond Meat’s portfolio of plant-based proteins were available at approximately 112,000 retail and foodservice outlets in 85 countries worldwide as of June 27, 2020. For more information, visit the company’s website at www.BeyondMeat.com.
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