Beyond Meat Plans Storefront Shakeup

To reinvigorate its business, Beyond Meat Inc. BYND, +19.15%, has revamped its retail strategy and hired a new marketing executive—among other moves.

In recent years, the California-based chain has focused its retail business on Kroger Co. KR, -0.46%, Walmart Inc. WMT, -0.73%, and Publix Super Markets Inc., with Costco Wholesale Corp.–with which it formed a partnership in June 2018—and AmaAmazon’sZN, +7.38% Whole Foods Market acting as key competitors for shoppers of organic products throughout North America.#ENDWRITE It has streamlined its operations and reversed declining sales.

Beyond announced Thursday that it had hired Akerho “AK” “gh” home to lead the compacompany’sal marketing efforts. Oghoghomeh previously worked as Red Bull’Bull’s president of U.S. marketing and will now take on a similar role with Beyond; he led advertising and other initiatives for Red Bull’Bull’s business, according to a Beyond spokeswoman.

The company, one of the first to introduce plant-based burgers as an alternative to beef, is struggling. Its sales have fallen even as its losses grow. Last year, the company lost multiple top executives and hundreds of employees through layoffs. Its chief brand officer also left in January. Beyond’Beyond’shas dropped 68% over the past year; it’s riit’s37% since then—though not nearly enough to keep pace with competitors like Uber and Lyft

.According to market research firm IRI, the sale of meat substitutes in U.S. grocery stores has fallen; new versions have dropped 15%, while frozen ones are down 3%.