Beyond Meat Withdraws Annual Forecasts as US Faux Meat Demand Slides
Beyond Meat on Wednesday withdrew its annual sales target as macroeconomic volatility and high inflation in the United States added further pressure on faux-meat makers already struggling with weak consumer demand.
It had earlier forecast annual net revenue of $320 million to $335 million.
The company's shares were down 5.5% in extended trading after it missed expectations for first-quarter results and forecast current quarter net revenues below estimates...
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