Preview: Beyond Meat's struggling retail business in focus

BYND Cannasoft Enterprises

11/05/2022 17:45

** Beyond Meat's  BYND.O  sales to grocery, pharmacy and
big-box stores will be in focus when plant-based meat maker
reports earnings after markets close on Wednesday
    ** Analysts polled by Refinitiv, on average, expect BYND's
revenue to increase 3.8% to $112.3 mln and loss/shr to be $1.01
    ** Revenue in BYND's retail business declined 8% in 2021,
hurt by stiff competition and taking shine off reopening-led 26%
increase in its foodservice channel that includes sales to
restaurants
    ** Avg rating among 21 analysts is "hold"; median PT is $45
    ** Heading into Wednesday's earnings, BYND has missed Wall
Street expectations for revenue in five out of six quarters
    ** Shares in BYND fall 8.9% to $27.68
    ** Including session's decline, BYND is down 57% this year

 (Reporting by Praveen Paramasivam)
 ((Praveen.Paramasivam@thomsonreuters.com;))