Beyond Meat falls short in Q4 due to weak retail demand

By DEE-ANN DURBIN
AP Business Writer

U.S. shoppers are giving plant-based burgers a pass. Plant-based meat company Beyond Meat says its revenue dropped in the fourth quarter due to weak retail demand. The company based in El Segundo, California, said Thursday that its net revenue fell 1.2% to $100.7 million in the October-December period. That was short of Wall Street’s forecast of $101 million, according to analysts polled by FactSet. The company reported a net loss of $80.4 million for the quarter. The loss, of $1.27 per share, far exceeded the 70-cent loss Wall Street was expecting.