El Segundo company posts Q2 loss of 16 cents per share
The smartest thing Beyond Meat did was put its products into retail grocers, as more people are cooking and eating at home since the pandemic hit. Its closest competitor in the plant-based meat market is Impossible Meat, which is trying a similar approach.
Beyond Meat teamed with Dunkin Donuts and Starbucks but those partners are among those who took a hit in Q2 like other fast-casual restaurants.
Grocery has been a good bet for Beyond Meat and analysts say Beyond Meat will likely stick with retail strategy.
Challenges for the company may continue to lie in supply chain issues and managing COVID contamination.