[Beyond Meat in VegNews] BEYOND MEAT GROCERY SALES SKYROCKET BY 195 PERCENT DURING COVID-19

Retail sales of Beyond Meat’s vegan products increased by 194.9 percent in the second quarter of 2020, the company shared in its most recent earnings report. While the vegan brand’s foodservice sales slipped by 60.7 percent (which was to be expected in light of the ongoing COVID-19 pandemic) contributing to a net-loss of $10.2 million during the time period, its year-over-year net revenues increased by 69 percent to $113.3 million. To mitigate foodservice losses, Beyond Meat spent $5.9 million to repackage its products for retail sale—a move that seems to have paid off.