Simply Good Foods faces a sales slump despite America's protein craze. The company, which owns Quest and Atkins brands, reported a 9.4% decline in net sales for the quarter ended Feb. 28. While Quest managed minimal growth of 0.3%, Atkins plummeted 27% and plant-based protein brand Owyn dropped 17%.

This downturn comes as protein products surge in popularity across the United States. Simply Good Foods sells protein bars, drinks, chips and more under its well-known brands. The company is now seeking a turnaround strategy to reverse these declining sales figures.

The disconnect between the broader protein market's growth and Simply Good Foods' performance raises questions about the company's competitive positioning. With rival protein bars gaining market share, Simply Good Foods must address why its portfolio is underperforming in what should be a booming category.