Beyond Meat Expands its Meatless Chicken Distribution

Los Angeles–based producer of plant-based meat substitutes Beyond Meat has expanded its distribution of meatless chicken tenders to 8,000 new grocery, pharmacy, and big-box retail locations.

The company first launched the product in restaurants last July before it hit grocery shelves in October.

Customers will now be able to buy Beyond Chicken Tenders at select Albertsons, Sprouts, Whole Foods Market and CVS locations nationwide. All Kroger locations also will carry the item by the end of April.

“From a selling standpoint, wherever our customers have interest in carrying our product, we want it to be available so our consumers can ultimately shop there as well,” Beyond Chief Growth Officer Deanna Jurgens stated.

The company has been seeing several quarters of weak retail sales.

It was last year that Beyond Meat focused on fast-food partnerships over launching new retail products. In the fourth quarter, Beyond’s U.S. grocery sales fell about 20% to just shy of $50 million.

Shares of the company have fallen 66% over the last year, dragging its market value down to $2.77 billion. Shares rose about 3% in premarket trading Tuesday.

CEO Ethan Brown told analysts in February that those launches were more expensive because of supply chain problems, but costs have improved as the company ramped up production.

“Distribution continues to be a key driver for us as we go into this year,” Jurgens said.

Disclaimer: We have no position in any of the companies mentioned and have not been compensated for this article.