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Beyond Meat quarterly sales miss estimates, shares plunge

Nov 9 (Reuters) - Plant-based meat maker Beyond Meat reported weaker-than-expected quarterly sales on Monday, citing declines in restaurant sales and a slowdown in retail purchases as consumers worked through their stockpiles.

Net sales rose 2.7% to $94.4 million in the quarter ended Sept. 26, widely missing analysts’ estimates of $132.81 million, according to Refinitiv IBES data.

Shares of the company were down 20% in after market trading. (Reporting by Siddharth Cavale in Bengaluru; Editing by Aditya Soni)

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