stock was lower Monday despite the news that the plant-based protein maker is expanding retail distribution across Europe.
Shares of Beyond Meat (ticker: BYND) were down 1.4% to $128.51 in morning trading. The shares have gained 4.3% year to date, after gaining 70% in the past 12 months.
Beyond Meat (BYND) announced Monday that its products will be available in “thousands of European retail locations this spring.” This month, for instance, the company will nearly double its distribution of Beyond Burgers in the U.K., add more than 1,000 new German retailers, and partner with supermarkets in Austria and Switzerland.
The company’s Beyond Mince product went on sale in the Netherlands in March and now will be sold in other nations as well, including France, Spain, and Italy. Examples of larger retailers are Carrefour (France. CA) and
Koninklijke Ahold Delhaize N.V.
The move comes nearly a year after Beyond Meat announced its first co-manufacturing plant in June 2020; the company said that the plant-based food market has seen sales jump 49% in Europe in the past two years. Currently, Beyond Meat is sold at 122,000 retail and restaurants in over 80 countries.
Beyond Meat also has been expanding retail distribution in the U.S., including at
(WMT). The company has inked some high-profile partnerships with fast-food chains as well, but the pandemic has weighed on the company’s restaurants business, and for the most part. retail sales haven’t been able to offset that loss.
Some bulls, however, hope that will change as mass vaccination makes more consumers comfortable returning to restaurants, even as a renewed focus on health makes meat alternatives more appealing.
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