Latest News

Beyond Meat Reports Sliding Revenue

Beyond Meat Company’s Thursday report issued its revenue is growing smaller in the fourth quarter. This is while the Los Angeles–based company has been focusing on scaling production of fast-food inauguration.

The plant-based Beyond Fried Chicken debuted in 2022 and McDonald’s McPlant burger, made from peas, rice and potatoes, was piloted this February. 

The plant-based Beyond Fried Chicken debuted in 2022 and McDonald’s McPlant burger, made from peas, rice and potatoes, was piloted this February. However, the initiatives didn’t bring success as the company’s shares in extended-hours trading dropped 11%.

The Q4 report of the company declared net loss of $80.37 million, $1.27 cents per share, larger than the loss of $25.08 million in the previous year, shows surveys by Refinitiv.

Grocery sales in the U.S. dropped 19.5%, to $49.98 million, which according to Beyond was the result of softer demand, rise in discounts, market share loss fewer shipping days versus a year earlier.

The company’s major division has been challenging to keep the growth of its revenue as it was in 2020 due to rising demand.

CEO Ethan Brown in a teleconference with analysts said the slow growth partly stems from the company’s plan to deal with its restaurants instead of producing new grocery items.

Read more
By Saha on February 25, 2022

Stellantis Shares Rise in 2022

Stellantis N.V. stocks increased on Wednesday following the record profit last year.

Founded in January 16, 2021, when the two corporations of Fiat-Chrysler and PSA merged, the US-European automotive manufacturing company announced rising sales which is up 14%.

The multinational carmaker includes Chrysler, Ram and Jeep in the U.S. and Peugeot, Opel and Fiat in Europe. The company’s net profit surged to 13.4 billion euros, which is about triple the last year’s figure. Following this report its stocks increased near 4.5% in London and over 4% in New York.

In its statement, the Italian-American conglomerate declared it has built up robust commercial activity and speeded up merging synergy led by a defined focus the performance pace from the beginning.

The operating profit margin was 11.8% last year and it is forecasted that there is a two-digit margin in 2022. Shipments in Europe were down by 3% with a revenue up by 5% as a result of rise in sales of expensive hybrid and electric cars. In North America, shipments were down by 2% while revenue had an increase by 15%, partly due to increased sales of Jeep sport utility vehicles and Dodge Ram trucks.

The firm’s CEO, Carlos Tavares, said today’s record indicates that Stellantis is in a good position and will keep robust performance in the uncertain market situation.In Europe, Asia-Pacific, and South America, the company gained $6 billion, $500 million, and $999 million respectively.The automaker wants to achieve the goal of promoting in China and other Asian countries. 

Read more
By Saha on February 24, 2022

Newsletter

Enter your email address below to subscribe to our newsletter and keep up to date with the latest news, discounts and special offers.

Latest Comments