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   Technology StocksImpossible Foods and Beyond

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From: Glenn Petersen7/1/2020 1:04:21 AM
   of 214
Beyond Meat enters grocery stores in mainland China through Alibaba partnership

Published Tue, Jun 30 20209:00 PM EDT
Updated 3 hours ago
Amelia Lucas

Key Points

-- Alibaba’s Freshippo grocery stores in Shanghai will start selling Beyond Meat’s meatless burgers on Saturday.

-- The maker of meat alternatives first entered mainland China in April through a partnership with Starbucks.

Beyond Meat announced Tuesday that Alibaba’s Freshippo grocery stores would start selling its meatless burger patties, marking its entry into supermarkets in mainland China.

The maker of meat alternatives first entered mainland China in April through a partnership with Starbucks. Yum China’s KFC, Taco Bell and Pizza Hut also sell Beyond Meat products in several Chinese cities.

Beyond Burgers will be available at 50 Freshippo locations in Shanghai starting Saturday. By September, the patties will also be available at an additional 48 locations in Beijing and Hangzhou.

“We know that retail will be a critical part of our success in China, and we’re pleased to mark this early milestone within a few months of our market entry,” CEO Ethan Brown said in a statement.

Shares of Beyond closed Tuesday up 1.9% at $133.98. The stock, which has a market value of $8.34 billion, has risen 77% so far in 2020.

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From: Glenn Petersen8/4/2020 8:41:16 PM
   of 214
Beyond Meat’s U.S. grocery sales nearly triple, offsetting restaurant losses

Amelia Lucas


-- Beyond Meat’s U.S. grocery sales soared 194.9% during the quarter ended June 27.

-- But food service sales slid as restaurants, universities and office buildings temporarily shuttered.

-- The company did not reissue an outlook for 2020, citing the uncertainty surrounding the coronavirus pandemic.

Beyond Meat on Tuesday reported its U.S. grocery sales nearly tripled in the second quarter as more consumers cooked its meatless burgers and sausages at home, but extra costs related to the coronavirus pandemic resulted in a quarterly loss.

Shares of the stock fell as much as 7% in extended trading.

Here’s what the company reported for the quarter ended June 27 :

Net loss per share: 16 cents

Revenue: $113.3 million

Beyond reported a second-quarter net loss of $10.2 million, or 16 cents per share, wider than its net loss of $9.4 million, or 24 cents per share, a year earlier. Excluding costs related to Covid-19 and the early extinguishment of debt, the company lost 2 cents per share.

Analysts surveyed by Refinitiv expected the company to lose 2 cents per share, but it is not clear how that compares to the company’s reported loss.

Beyond spent $5.9 million repackaging its products to be sold at grocery stores, rather than at restaurants, since many are temporarily shuttered.

“We had to make a decision. Did we want to sit and try to weather this, and potentially take a step back in our growth trajectory, or did we want to go very aggressively toward the retail sector even if it curved more expensive doing so?” CEO Ethan Brown said in an interview.

Beyond also spent an additional $1.6 million to donate more than 1 million of its meatless burgers to food banks and frontline workers and $1.5 million on early debt extinguishment costs stemming from its refinanced credit arrangements.

Net sales rose 69% to $113.3 million, topping expectations of $99.7 million, and crossing $100 million in quarterly revenue for the first time.

Its U.S. grocery sales soared 194.9%. In the last two weeks of the quarter, Beyond began selling value packs of its meat-free burgers at Walmart, Target and other retailers, with pricing that was more competitive with traditional beef burgers.

“We had a lot of help from the beef industry itself, because they’ve been experiencing some very high pricing,” Brown said.

“You will see us to continue to push pricing,” he added. “We believe that through the continuing maturity of our supply chain, particularly around the protein costs, a lot more protein supplies are coming in the market as well as the own growth of our own operations in the U.S. and globally.”

While Beyond’s quarterly grocery sales surged, its U.S. food service sales, which include restaurants and universities, plunged 60.7% during the quarter because of the virus’ impact. Brown attributed the decline to smaller restaurant chains and independent establishments, which account for about 58% of its food service sales. Those eateries have struggled to recover, while national fast-food chains have bounced back more quickly.

Outside of the United States, Beyond saw similar trends play out in its grocery and food service divisions. Globally, grocery typically accounts for roughly half of its sales, but that ratio shifted to 88% in the second quarter after Beyond shifted production away from food service.

“If you look at some of the trends, that was the right thing to do, because the consumer continues to look for our products irrespective of whether they’re shopping in food service or in retail,” Brown said. “We had a household penetration rate that increased 40% between January and June.”

About half of Beyond’s customers are now repeat buyers, Brown said.

International sales made up only about 15% of Beyond’s quarterly revenue, but the company is expanding its footprint. It launched in mainland China through a partnership with Starbucks in April and has since entered grocery stores and more restaurant chains there. Brown said that the company is starting to work with smaller Chinese restaurants. In July, Beyond launched in Brazil.

The company did not reissue an outlook for 2020, citing the uncertainty of the pandemic’s duration, magnitude and effects. Beyond pulled its forecast in February.

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From: Glenn Petersen9/8/2020 8:19:04 AM
   of 214
Starbucks adds plant-based items to Asian menus from Beyond Meat, others



-- Starbucks said it will add plant-based food and beverages to menus across Asia from September.

-- The menu will include products from Impossible Foods, Oatly and Beyond Meat, as it targets more environment-conscious diners.

-- Starbucks said its new food items will include the Spiced Impossible Puff and Maize Impossible Sandwich in Hong Kong, and Beyond Meat Bolognese Penne in Taiwan.

-- In Singapore, it will launch the Impossible Wrap comprising an Impossible Burger patty, avocado omelette, mushroom, caramelized onion and cheese.
Starbucks said on Tuesday it will add plant-based food and beverages to menus across Asia from September, including products from Impossible Foods, Oatly and Beyond Meat, as it targets more environment-conscious diners.

The Seattle-based coffee chain said it was introducing products in markets such as Hong Kong, Singapore, New Zealand, Taiwan and Thailand that suit local tastes and preferences.

Producing plant-based food and beverages is less demanding on the environment compared with items relying on animal agriculture, which typically needs far more land and water.

Starbucks said its new food items will include the Spiced Impossible Puff and Maize Impossible Sandwich in Hong Kong, and Beyond Meat Bolognese Penne in Taiwan.

In Singapore, it will launch the Impossible Wrap comprising an Impossible Burger patty, avocado omelette, mushroom, caramelized onion and cheese.

Drinks will include the Oatmilk Cocoa Macchiato from Oatly in Malaysia, the Philippines and elsewhere.

Starbucks began offering plant-based meals in Canada in February, and in April said it would do likewise in China. The initiative comes as Impossible Foods, Oatly and Beyond Meat look to expand into Asia.

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To: Glenn Petersen who wrote (190)9/8/2020 10:30:44 AM
From: A.J. Mullen
   of 214
Beyond Meat is building a factory near Shanghai, plans a major plant with full production in early 2021.

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From: Glenn Petersen10/16/2020 10:45:48 AM
   of 214
Tattooed Chef is now public and trading under the symbol TTCF,

Growing & Making Plant Based Foods for People Who Give a Crop.

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From: zax10/20/2020 3:06:06 PM
   of 214
Impossible Foods Is Now Developing a Plant-Based Alternative to Cow's Milk

There’s a myriad of reasons to replace cow’s milk with alternatives like nut milks, oat milk, or soy milk, but for those who enjoy the experience of consuming animal-sourced dairy products, the alternatives just aren’t the same. So Impossible Foods, makers of the Impossible Burger and other plant-based meat alternatives, are working on another food replacement that looks, tastes, and behaves like cow’s milk.

During a virtual press conference this morning where Impossible Foods revealed it was doubling the size of its Silicon Valley-based research and development team over the next year while also launching what it calls the “Impossible Investigator project” to entice leading scientists to contribute to its cause, the company also gave the world its first look at its new plant-based cow’s milk alternative that hasn’t yet been dubbed with a catchy marketing name. (Although you can probably safely assume that Impossible Milk is an option being considered.)

</snip> Read the rest here:

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From: Glenn Petersen11/6/2020 9:48:16 AM
1 Recommendation   of 214
Cutting Greenhouse Gases From Food Production Is Urgent, Scientists Say

New York Times
November 5, 2020

Rising greenhouse gas emissions from worldwide food production will make it extremely difficult to limit global warming to the targets set in the Paris climate agreement, even if emissions from fossil-fuel burning were halted immediately, scientists reported Thursday.

But they said that meeting one of the targets, limiting overall warming this century to 1.5 degrees Celsius, or about 2.7 degrees Fahrenheit, could be achieved through “rapid and ambitious” changes to the global food system over the next several decades, including adopting plant-rich diets, increasing crop yields and reducing food waste.

“If we’re trying to meet the 1.5-degree Celsius target there is no single silver bullet that is going to get us there,” said Michael Clark, a researcher at the Nuffield Department of Population Health at the University of Oxford in England and the lead author of the new research, an analysis of the climate effects of global food production published in the journal Science. “But together all of them will.”

Meeting the 2-degree Celsius target would be easier, Dr. Clark said. But in both cases, he added, the analysis is based on immediately reaching “net zero” emissions from the burning of fossil fuels for electricity, transportation and industry. Although countries have pledged to reduce them, current fossil-fuel emissions are nowhere near zero, and once they are factored in, he said, “any food transition probably needs to be larger and faster.”

Food production results in emissions of carbon dioxide, methane and other planet-warming gases in many ways, including land clearing and deforestation for agriculture and grazing, digestion by cattle and other livestock, production and use of fertilizers and the cultivation of rice in flooded paddies. Overall emissions are equivalent to about 16 billion metric tons of carbon dioxide a year, or about 30 percent of total global emissions.

While the world tends to focus on reducing emissions from fossil-fuel burning, the new study shows cutting emissions from food is crucial, too, the researchers said.

“Food systems are sort of the dark horse of climate change,” said Jason Hill, senior author of the paper and a professor at the University of Minnesota.

The researchers forecast how emissions would change in coming decades as the world population grows, diets and consumption patterns change as some countries become more affluent, and crop yields increase. They found that food-related emissions alone would quite likely result in the world exceeding the 1.5 degree Celsius limit in 30 to 40 years. Food emissions alone would bring the world close to the 2-degree limit by 2100.

Brent Loken, the global lead food scientist for the World Wildlife Fund, who was not involved in the research, said the study was “one more piece of evidence that supports what many people are saying,” that climate goals cannot be reached without changes in the food system.

“It’s really less about where food system is today, and more about where it’s heading,” he said.

Analyses in recent years have pointed to the need to alter diets and make other changes in the food system both to improve human health and make the system more sustainable. Dr. Loken, for example, was a co-author of a report by the EAT-Lancet Commission, an international group of scientists, that recommended a 50 percent reduction in global consumption of red meat and some other foods by 2050.

Dr. Loken said that without changes, food emissions were expected to double by 2050. “And the wiggle room to meet the Paris limits is so small,” he said.

Dr. Hill said that the study did not consider potential shifts like the entire world population adopting a vegan diet. “We wanted to present the ones that were realistic goals,” he said. “A plant-rich diet is a realistic goal. We’re not saying in this paper to hit these targets we have to give up animal products. But there need to be some dietary shifts toward the healthier diets.”

Dr. Clark said that he was optimistic that dietary shifts and other changes in the food system could be made in time to have an effect on global warming. He and others are currently working on determining what policies and behavioral changes it may be possible to implement.

“Maybe it’s a combination of nudges at grocery stores, and top-down policies from governments,” he said. “It could be very bureaucratic or individualistic.”

“There are so many different ways we can do this,” Dr. Clark added. “Every person has a role to play, every corporation as well. Through collective action and political will we can actually do this pretty rapidly.”


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From: Glenn Petersen11/9/2020 10:58:29 AM
1 Recommendation   of 214
McDonald’s to test McPlant, which includes its own meat-free burger, next year; Beyond Meat shares fall

Amelia Lucas

McDonald’s will test a meat-free burger in several markets next year as it adds plant-based menu offerings, which it has coined “McPlant.”

International President Ian Borden said that McPlant was created “by McDonald’s and for McDonald’s.” Borden said that the McPlant line could also include chicken substitutes.

Shares of Beyond Meat, which made the meat-free patties for McDonald’s Canadian test, fell 6% in morning trading on the news. The stock was briefly halted for volatility.

McDonald’s ended the Canadian test of its meatless burger in April and has since said that it has no plans to bring back its P.L.T. burger at this time.

Other international McDonald’s markets have found more success with meatless burgers. Restaurants in Germany, for example, have added veggie burgers made by Nestle to their menus.

This is breaking news. Please check back for updates.

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From: Glenn Petersen11/9/2020 6:34:17 PM
   of 214
Beyond Meat shares tank as coronavirus weakens demand for plant-based meat at restaurants

Amelia Lucas


-- Beyond Meat swung to a loss in its third quarter and missed analysts’ estimates for both earnings per share and revenue.

-- CEO Ethan Brown said that consumers aren’t stockpiling Beyond’s meatless products like they were at the beginning of the pandemic.

-- Sales in its foodservice segment, which includes restaurants, declined during the quarter.

Beyond Meat on Monday said it swung to a loss in the third quarter after the coronavirus pandemic weakened demand for its meat alternatives at restaurants.

CEO Ethan Brown said that some of blame for its lackluster results lies with consumer stockpiling. Panic-buying at the start of the crisis lifted Beyond’s grocery sales in the previous quarter, but as the pandemic stretched on into the autumn, the trend stabilized.

Shares of the company plunged 27% in after-hours trading, capping off an already eventful day for the stock. Shares were halted twice on Monday following the announcement that McDonald’s was adding plant-based items to its menu.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

Loss per share: 28 cents, adjusted, vs. earnings of 5 cents per share expectedRevenue: $94.4 million vs. $132.8 million expectedFor the third quarter ended Sept. 26, Beyond reported a net loss of $19.3 million, or 31 cents per share, compared with net income of $4.1 million, or 7 cents per share, a year earlier. The company spent $700,000 on repackaging items for grocery stores and $1.1 million in write-offs of foodservice inventory that was deemed unsalable.

Excluding the $1.8 million in costs related to the pandemic and other items, the company lost 28 cents per share, missing the earnings of 5 cents per share expected by analysts surveyed by Refinitiv.

Net sales rose 2.7% to $94.4 million, missing expectations of $132.8 million. Sales of its U.S. foodservice segment, which includes restaurants, corporate catering services and universities, fell 11% in the quarter.

Brown said that there are “strong signs that certain large [quick-service restaurants] are planning menu additions,” but declined to provide any more details because of the uncertainty caused by the pandemic. Fast-food restaurants, which have been bouncing back from the crisis much faster, account for about one-third of Beyond’s foodservice sales.

When asked about the collaboration with McDonald’s, Brown said that he respected the chain’s decision to refer to its McPlant line in “generic” terms. He also paraphrased writer Mark Twain’s famous quote about the rumors of his death being greatly exaggerated.

“Our relationship with McDonald’s is really good, it’s really strong,” said Brown.

But he said that he would resist efforts from McDonald’s to leave Beyond Meat’s branding off of any products created by the maker of meat alternatives. Brown told analysts that it would be in everyone’s best interest.

U.S. grocery sales surged 40.5%, but it only barely offset the lower restaurant demand. Brown told analysts on the conference call that food makers in other categories have seen similar patterns following the initial stockpiling affect their third quarters.

Brown also announced on the call that Beyond products will be sold at CVS locations.

The company is also quickly expanding outside of the U.S. In September, it agreed to build two factories near Shanghai as it looks to build a larger presence in China. International revenues plunged 45% in the quarter, hurt by the 65% decline in foodservice sales.

Read the full earnings report here.

This is a breaking news story. Please check back for updates.

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From: Glenn Petersen11/15/2020 2:26:36 PM
2 Recommendations   of 214
Some clarification on the McDonald's/Beyond Meat relationship. It looks like a big loss for BYND.

McDonald’s Takes Control of Its Vegetable Destiny

By Kyle Stock
Bloomberg Businessweek
November 15, 2020, 12:31 PM EST

Honestly, the name is fantastic: "McPlant." Just saying it feels like taking a bite out of something. Let's hope whichever midlevel marketing executive blurted it out into a Chicago conference room got a super-size bonus.

The name is one of the many things that probably would not have been possible had McDonald’s gone with a third-party supplier like Beyond Meat for its cow-free protein. The decision to keep its veggie-forward products in-house, announced last week, is certainly an anomaly in the fast-food world. Beyond Meat has packed in licensing deals with a crowd of chains, most notably Dunkin’ and Tim Hortons. Impossible Foods, a rival, has its meat-esque wares in thousands as well, including Burger King.

McDonald's was the big prize in the burger wars and it quietly just left the battlefield.

Beyond Meat was close. It ran a pilot with the Golden Arches early this year, including the “PLT” – plant, lettuce and tomato (again with the great names!). And last week, it said it has a role in the McPlant push, though it was scant on the details. “It’s really up to them to say the extent of that,” CEO Ethan Brown told investors and analysts. No doubt McDonald’s scientists have been secretly messing around with beet juice and pea protein all along.

McDonald's McPlant
Source: McDonald's
Sure, Beyond Meat spent a decade coming up with its proprietary “woven protein,” breaking down plants to the mineral level. But suggesting the McDonald’s lab can’t cook up a decent plant patty is like saying Boeing engineers would be stumped by some weird new plane. In truth, Big Meat is all-in on making its own Beyond proxy, everyone from Conagra to Cargill to Hormel.

And McDonald’s has never been keen on licensing fees; the soda dispenser is one of the few places in the company where one finds brand names. Beyond Meat, meanwhile, is getting one in four revenue dollars, from Dunkin’ and other resellers stocking its products.

McDonald’s is planning to start testing a full line of plant pucks next year, including burgers, “chicken” nuggets and breakfast patties. Truthfully, the company’s supply chain savants may have had more say in the decision than its chefs. McDonald’s can’t afford the kind of growth pains Beyond Meat and Impossible have dealt with as they scaled up and started shipping product to a range of restaurants. What’s more, it doesn’t want to get in a bidding war with a company like Dunkin’ for the next truck full of sort-of sausages. And when it goes to buy pea protein or any other bulk ingredient, McDonald's probably gets a better deal than Beyond.

And let’s be frank, the McPlant doesn’t have to taste incredible. There are scads of fast-food shops selling more celebrated burgers – from In N’ Out to Shake Shack -- but that hasn’t dented the Golden Arches. Tasty excellence, in this case, is far less important than ubiquity, consistency and supply-chain certainty.

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