Beyond Meat’s financial performance continued to decline in the first quarter of fiscal 2025, with product volume sold dropping 11%, Meat+Poultry reported.
Beyond Meat CEO Ethan Brown said the shift of some products from the fresh meat case to the frozen food aisle by major retailers contributed significantly to the decrease. Brown explained that this transition caused interruptions in product availability, with about 70% of the decline attributed to distribution gaps.
The company saw declines in three of its four business units, with U.S. retail down 23% and U.S. foodservice down 22%. Despite a $53 million loss and a sales drop to $69 million, Beyond Meat expects a modest recovery in the second quarter.
