Beyond Meat expects sales to take a hit due to new Corona uncertainty
Meat substitute maker Beyond Meat is bracing for tougher business again in the face of the new Corona craze after strong growth in the second quarter. In the three months to the beginning of July, the company known for its vegan burgers increased sales by 32 percent year-on-year to 149.4 million dollars (126.3 million euros), as it announced on Thursday after the US stock exchange closed in El Segundo, California.
Beyond Meat
However, the company had to cope with a surprisingly high loss of 19.7 million dollars. Investors also disliked the business outlook for the current quarter. Because of new uncertainties due to rising Corona infection figures, Beyond Meat expects weaker demand. The company's revenue forecast of $120 million to $140 million was well below market expectations. The share price fell by around five percent after trading hours./hbr/DP/zb (dpa)
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