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Beyond Meat expands meatless chicken distribution to 8,000 new outlets


Beyond Meat meatless chicken tenders

Source: Beyond Meat

Beyond MeatDistribution of the meatless chicken tenders will be expanded to include 8,000 more big-box retailers, pharmacies and grocery stores.

Beyond Chicken tenders can now be purchased at select locations. Albertsons, Sprouts, Whole Foods Market CVSAll locations in the United States All KrogerThe item will also be available at other locations by the end the month.

Deanna Jurgens, Beyond Chief Growth Officer, stated in an interview that “From a sales standpoint, wherever customers are interested in carrying our product,”

After several quarters with low retail sales, Beyond Chicken Tenders is expanding. The pandemic caused consumer demand for beef and sausages to soar as sales dropped in restaurants. However, those buying habits have since declined.

The company also emphasized fast-food partnership opportunities in 2021, rather than launching new products. Beyond saw its U.S. grocery sales drop by about 20%, to $52 million in the fourth quarter. 

Investors are disappointed at the slump in sales growth. It has dropped 66% in the past year, taking its market capitalization to $2.77 Billion. The stock rose by about 3% Tuesday morning in premarket trades.

Beyond launched chicken tenders in its first restaurants in July, before the product hit supermarket shelves last October. Ethan Brown, CEO of Beyond, told analysts that the launches in July were more costly due to supply chain issues. However, costs have decreased as the company has increased production.

Jurgens stated that distribution continues to be an important driver as we enter the year.