In this file:

·         Beyond Meat stock falls after conclusion of McDonald’s McPlant test

·         McDonald’s ends its plant-based test in the U.S. Now what?

·         Beyond Meat contains less protein than advertised, class action claims

·         Beyond Meat slips as J.P. Morgan casts doubt McPlant going full time

 

 

 

Beyond Meat stock falls after conclusion of McDonald’s McPlant test

 

o   McDonald’s said it has concluded the U.S. test of its McPlant burger as planned.

o   Analyst research reported lackluster demand for the meatless burger, which is made using Beyond Meat patties.

o   McDonald’s sells the McPlant burger in several European markets but hasn’t announced a nationwide launch for the menu item in its home market yet.

 

Amelia Lucas, CNBC

Jul 28 2022

 

Shares of Beyond Meat fell 6% in morning trading after J.P. Morgan said McDonald’s ended its U.S. test of the McPlant burger, which uses Beyond’s meatless patties.

 

The fast-food giant confirmed to CNBC Thursday that the McPlant test concluded as planned. Neither McDonald’s nor Beyond Meat has announced any plans for additional testing or a nationwide launch.

 

Beyond’s stock has fallen 53% this year, dragging its market value down to $2.06 billion. Wall Street has become skeptical over the company’s long-term growth opportunities as grocery sales lag. Moreover, buzzy partnerships with restaurant giants like Pizza Hut owner Yum Brands and McDonald’s haven’t progressed to many permanent nationwide menu offerings yet.

 

McDonald’s first tested the meat-free burger in eight restaurants in the U.S. in November to understand how the menu item would impact its kitchens. In mid-February, it rolled the McPlant out to roughly 600 locations to learn more about consumer demand for the menu item.

 

Analyst research reported lackluster demand for the Beyond burger. BTIG analyst Peter Saleh wrote in a June note that franchisees told him that McPlant sales were disappointing, coming in at or below the low end of projections. J.P. Morgan analyst Ken Goldman wrote in his note on Thursday that some McDonald’s restaurant employees told him that the burger didn’t sell well enough, potentially putting a nationwide launch in jeopardy...

 

more, including links

https://www.cnbc.com/2022/07/28/beyond-meat-stock-falls-after-conclusion-of-mcdonalds-mcplant-test.html

 

 

 McDonald’s ends its plant-based test in the U.S. Now what?

The fast-food burger chain is no longer testing its McPlant burger as analysts speculate that it didn’t go over as well as hoped.

 

By Jonathan Maze, Restaurant Business 

Jul. 28, 2022

 

McDonald’s has ended its expanded test of its meatless McPlant burger in the U.S., the company confirmed on Thursday, without a clear indication of whether the plant-based product will make a national debut.

 

The company’s confirmation followed continued speculation from Wall Street analysts indicating that the product underperformed those tests. An analyst with J.P. Morgan this week said that the product was pulled in many stores and low sales were cited as the primary reason.

 

Yet McDonald’s indicated that it ended the test “as planned,” though the company did not respond when asked whether the product would make a wider debut.

 

The decision to pull the product adds to the mixed messages from the fast-food business regarding its interest in plant-based menu items.

 

For some time, quick-service restaurant chains had fallen in love with the prospect of plant-based representations of burgers and chicken. Burger King in 2019 generated strong sales that summer with its Impossible Whopper introduction and more recently doubled down on its plant-based commitment with new versions of the product.

 

KFC introduced its plant-based Beyond Fried Chicken earlier this year and the product generated more media impressions than any product launch in company history, executives with parent company Yum Brands said in the spring. Same-store sales, however, slowed slightly on a three-year “stacked” basis in the period compared with the fourth quarter, based on a Restaurant Business analysis.

 

Numerous other chains have jumped on the bandwagon...

 

more, including links 

https://www.restaurantbusinessonline.com/food/mcdonalds-ends-its-plant-based-test-us-now-what

 

 

Beyond Meat contains less protein than advertised, class action claims

 

By Abraham Jewett, Top Class Actions

July 28, 2022

 

Beyond Meat protein class action lawsuit overview:

 

o   Who: Plaintiff Todd Miller filed a class action lawsuit against Beyond Meat, Inc.

o   Why: Miller claims Beyond Meat inflates on its packaging the amount of protein its imitation meat products contain.

o   Where: The class action lawsuit was filed in New York federal court.

 

Beyond Meat misleads consumers by inflating the amount of protein its imitation meat products contain on their labeling, a new class action lawsuit alleges.

 

Plaintiff Todd Miller claims testing has proven that the amount of protein Beyond Meat products contain does not match with what is advertised on the front and back of their packaging.

 

“Defendant’s advertising and marketing campaign is false, deceptive, and misleading since the Products contain less protein than stated on the Products’ front and back labeling,” states the Beyond Meat class action.

 

Miller wants to represent a nationwide Class and New York subclass of consumers who have purchased a Beyond Meat product.

 

Beyond Meat inflates the labeled amount of protein in its products in order to capitalize on consumers’ desire for plant-based products which have as much protein as their meat counterparts, the Beyond Meat class action alleges.

 

Beyond Meat accused of misleading ‘reasonable’ consumers ...

 

more, including links  

https://topclassactions.com/lawsuit-settlements/consumer-products/food/beyond-meat-contains-less-protein-than-advertised-class-action-claims/

 

 

Beyond Meat slips as J.P. Morgan casts doubt McPlant going full time

 

By: Kim Khan, Seeking Alpha 

Jul. 28, 2022

 

The test of a Beyond Meat (NASDAQ:BYND) burger at McDonald's (MCD) could be over, J.P. Morgan said Thursday.

 

Shares of BYND are down 3% in premarket trading.

 

"We believe that McDonald's ... has broadly discontinued its US test of the McPlant burger," analyst Ken Goldman, who has an Underweight rating on BYND, wrote in a note.

 

"We recently spoke with MCD employees at 25 locations that previously carried the product; each said the item is no longer on the menu. Not surprisingly, the reason sometimes being cited is that the product did not sell well."

 

"We don't have a great deal of information outside of this, including to what extent BYND's guidance relied on McPlant expanding in 2H22," Goldman said...

 

more

https://seekingalpha.com/news/3862229-beyond-meat-slips-as-jp-morgan-casts-doubt-mcplant-going-full-time