SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : Impossible Foods and Beyond
BYND 138.30+1.4%Mar 5 4:00 PM EST

 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
From: Glenn Petersen6/17/2020 8:42:25 AM
   of 213
 
Beyond Meat to sell cheaper value packs of its meatless burgers

Published Wed, Jun 17 20208:23 AM EDT
Amelia Lucas
CNBC.com

Key Points

-- Beyond Meat will sell 10-packs of its meatless burgers.

-- The burger value packs narrow the price gap with traditional beef patties.

-- The coronavirus pandemic has pushed many consumers to buy meat alternatives, with sales soaring 168.5% in the week ended June 6, according to Nielsen data.



Beyond Meat’s Cookout Classic value pack
Beyond Meat
------------------------------

Beyond Meat announced Wednesday that it will sell value packs of its meatless burgers — just in time for summer barbecue season.

The 10-pack has a suggested retail price of $15.99, or $6.40 per pound, bringing it closer to the price of traditional beef. Beef patties were selling for $5.26 per pound this week, according to the U.S. Department of Agriculture’s report on advertised beef prices.


Beyond’s value packs will go on sale the week of June 22 at Walmart, Target and other select retailers across the U.S. But the new offering will only be available until mid-August, or until supplies last.

The coronavirus pandemic has pushed many consumers to buy meat alternatives. More consumers are cooking at home rather than eating at restaurants, and outbreaks have hit the meatpacking industry and hurt production. Sales of fresh meat alternatives soared 168.5% in the week ended June 6 compared to the year-ago period, according to Nielsen data.

Shares of Beyond, which has a market value of $9.46 billion, have doubled their value so far in 2020, as of Tuesday’s close. The stock was up about 3% in premarket trading Wednesday.

cnbc.com
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext