Beyond Meat Inc (BYND.O) said on Thursday that restaurants are placing 'more conservative' orders for its plant-based burgers due to uncertainty over to the Delta variant of the coronavirus, leading the company to forecast third quarter revenue below estimates.
Products from Beyond Meat Inc, the vegan burger maker, are shown for sale at a market in Encinitas, California, U.S., June 5, 2019. REUTERSsaid on Thursday that restaurants are placing "more conservative" orders for its plant-based burgers due to uncertainty over to the Delta variant of the coronavirus, leading the company to forecast third quarter revenue below estimates.
Widespread labor pressure delayed at least one product launch until the first part of next year, Brown said during a call with analysts. In the second quarter ended July 3, the faux beef and chicken maker reported that sales in restaurants, dining halls and other food service venues were finally back in growth mode after taking a big hit during the pandemic, when dining rooms shuttered and restaurants streamlined menus.
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