Excluding costs related to the virus and the early extinguishment of debt, the company lost 2 US cents per share. Beyond spent US$5.9 million repackaging its products to be sold at grocery stores, rather than at restaurants, since many are temporarily shuttered. Its U.S. grocery sales soared 194.9 percent. Brown attributed the decline to smaller restaurant chains and independent establishments, which account for about 58 percent of its food service sales. Outside of the United States, Beyond saw similar trends play out in its grocery and food service divisions.

Source: The Standard August 05, 2020 04:52 UTC