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Beyond Meat on Thursday reported a wider-than-expected loss and shrinking revenue for its fourth quarter as it shifts its focus from slumping grocery sales to scaling its production for large fast-food launches.
The new year kicked off with the debut of KFC Beyond Fried Chicken, while February brought an expanded test for McDonald’s McPlant burger, which is made with Beyond’s beef patty substitute.
Despite the potential new business and a plan to cut back on spending, the company’s stock fell 11% in extended trading as its 2022 revenue outlook was disappointing.
Here’s what the company reported in the three months ended Dec. 31 compared with what Wall Street was expecting, based on a survey…
Source cnbc.com
