Beyond Meat said on Wednesday it expects sharper revenue growth in the second half of 2023 after reporting a smaller-than-expected quarterly loss on easing supply chain pressures and cost controls.
Products from Beyond Meat Inc, the vegan burger maker, are shown for sale at a market in Encinitas, California, U.S., June 5, 2019. REUTERS//File Photosaid on Wednesday it expects sharper revenue growth in the second half of 2023 after reporting a smaller-than-expected quarterly loss on easing supply chain pressures and cost controls.
Sales in Beyond Meat's international foodservice segment nearly doubled in the quarter, helped by partnerships with quick-service restaurants including McDonalds Corp Beyond Meat finance chief Lubi Kutua said on a post-earnings call that focus on expanding distribution of recently launched products in the U.S. and new items in international markets will help bolster revenue growth in the latter part of the year., ramped up automation in its manufacturing processes and strengthened its sourcing network in to keep a tight lid on costs and expand margins.
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