Posted on 12/07/2022 9:17:56 PM PST by DoodleBob
...Its stock has slumped nearly 83% in the past year. Sales, which the company had expected to rise as much as 33% this year, are now likely to show only minor growth....
In late October, the company said it was laying off 200 people, or 19% of its workforce. And four top executives have departed in recent months, including the chief financial officer, the chief supply chain officer and the chief operating officer, whom Beyond Meat had suspended after his arrest on allegations that he bit another man’s nose in a parking garage altercation.
What investors and others are debating now is whether Beyond Meat’s struggles are specific to the company or a harbinger of deeper issues in the plant-based meat industry.
...
“At the category level, we’re seeing volumes for plant-based meats down 22 consecutive months now,” said John Baumgartner, a consumer food analyst at the financial institution Mizuho Americas....“We’re positive on the future for plant-based meat, but this is a 20- to 25-year story,” he said....
Some say the slowdown in sales is a product of food inflation, as consumers trade pricier plant-based meat for less-expensive animal meat. But others wonder if the companies have simply reached the maximum number of consumers willing to try or repeatedly purchase faux burgers and sausages.
...
...the Deloitte analysts said another problem might be resistance to a product that some segment of customers see as “woke” and linked to politically left-leaning ideas.
In August, when the Cracker Barrel restaurant chain stated on its Facebook page that it had begun offering the meatless “Impossible Sausage,” the post was flooded with thousands of comments from irate customers. “Go woke, go broke,” one wrote. “You just lost a ton of your base. You obviously don’t know your patrons.”
(Excerpt) Read more at seattletimes.com ...
Last I knew-—In N Out burgers has pretty much the same menu they had in the 70’s. They may have added some different beverages-—but the food is the same.
Cannot beat them.
Thank you for the mention.
How’s its nutritional listing?
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