(Bloomberg) — Beyond Meat Inc., the maker of vegan burgers, sausages and chicken, declined in late trading Thursday after offering a sales outlook for 2022 that fell short of Wall Street’s expectations — another sign that the company’s growth is tapering off.
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The company sees full-year net revenue in a range of $560 million to $620 million, below the estimate of $645 million compiled by Bloomberg. The company said its actual results “could differ materially” if assumptions related to the pandemic do not materialize.
The results reinforce that the maker of plant-based foods, which was an investor darling after its 2018 initial public offering, is now struggling with competition, higher costs and supply-chain complexities. Of particular concern is a 20% decrease in U.S. retail sales, which the company attributed to softer demand, calendar effects,…
