Beyond Meat reports 1Q loss as foodservice sales plunge
May 7, 2021
Beyond Meat reported first-quarter sales of $108.2 million, below the consensus of $113.18 million. The plant-based meat alternative brand was particularly hit by a decline in foodservice revenues, which were down 26 percent in the U.S. and 44 percent internationally.
Recent News
TikTok Suspends TikTok Lite Rewards Program in the EU
A TikTok service offering rewards such as gift vouchers for watching videos has been suspended by the social media site.
FCC Votes To Restore Net Neutrality Rules
The Federal Communications Commission (FCC) voted 3-2 on Thursday to reinstate net neutrality rules that were rolled back during the Trump administration.
Blackstone To Buy Tropical Smoothie Cafe
Alternative asset manager Blackstone is set to buy the restaurant chain Tropical Smoothie Cafe.
Ford’s Total EV Sales Post $1.3 Billion Loss in Q1
Ford’s EV division, known as Model e, faced a tough start to 2024.