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2021-11-11
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Beyond Meat Falls as Slower Sales Seen Persisting This Year
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Chief Executive Officer Ethan Brown acknowledged “continued uncertainty for the balance of this year,” but said in the statement that the company is “committed to our long-term strategy.”\nThe company’s gross margin slipped to 21.6%, well short of the 29.3% average analyst estimate. Beyond Meat attributed the weakness to factors such as transportation costs, higher inventory write-offs during the pandemic and elevated warehousing costs.\nBeyond Meat shares fell 11% at 4:11 p.m. in extended New York trading. 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