Beyond Meat Revenue Plummets on Slowing Demand, Trims Forecast
- Beyond Meat reported a nearly 31% drop in second quarter revenue due to declining consumer demand for plant-based meat.
- The company lowered its full-year revenue forecast to $360-380 million, down from $375-415 million.
- Beyond Meat's stock fell over 20% after the weak sales report and forecast cut.
- Slowing sales caused Beyond Meat to miss second quarter revenue estimates.
- The company hopes to boost demand with new products, price cuts, and expanded distribution.
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