In this file:

 

         McDonald's Refuses to Reveal Who's Making Their McPlant Burgers

         McDonalds And Beyond Meat Outline Diverging Fortunes Of The Restaurant Industry

 

 

McDonald's Refuses to Reveal Who's Making Their McPlant Burgers

 

Mura Dominko, Eat This, Not That!

via Yahoo Style - November 12, 2020

 

McDonald's announced it's entering the plant-based burger warsówhich may or may not be the new chicken sandwich warsówith its unique take on a meatless burger earlier this week. The McPlant is the fast-food chain's answer to Burger King's Impossible Whopper and Starbucks' Impossible Sausage Breakfast Sandwich. While this is exciting news, one important question remains unanswered by McDonald's: Who, exactly, is making the new plant-based McPlant patties?

 

A cloud of mystery surrounds the meatless burgers, but McDonald's briefly said in its announcement that McPlant was created "by McDonald's and for McDonald's." McDonald's developed a new plant-based meat entirely on its own? Not so fast. While the fast food giant may be keeping mum on the origin of its meat substitute, the major player in the plant-based arena who helped McDonald's with the process is seeking some recognition.

 

Soon after the McDonald's announcement, a representative for Beyond Meat confirmed to CNBC that it had co-created the McPlant patty. It remains unclear how much ownership Beyond Meat has in the product, and neither party has provided any additional information about how the McPlant burger differs from a normal Beyond Burger patty.

 

Beyond Meat CEO Ethan Brown didn't further clarify the confusion in a subsequent interview. "I believe our relationship with McDonald's is very strong," he told Mad Money's Jim Cramer. "We're involved with McDonald's on a number of different fronts. We're doing things now to prepare for things in the future that involve McDonald's."

 

The lack of transparency hurt the plant-based meat maker, whose stock initially plummeted after McDonald's didn't name it as a supplier for the meatless burgers. Things quickly recovered after Beyond Meat injected itself into the conversation.

 

And the plot thickens further. McDonald's statement said its upcoming McPlant line may add a chicken substitute in the future, something which Beyond Meat doesn't make...

 

more, including links 

https://ca.style.yahoo.com/mcdonalds-refuses-reveal-whos-making-183656029.html

 

 

McDonalds And Beyond Meat Outline Diverging Fortunes Of The Restaurant Industry

 

IAM Newswire

via Yahoo Finance - November 12, 2020

 

The ongoing economic recovery has been defined by a K-shape. During this unprecedented crisis, only a few industries have been hit harder and are seeing more uneven rebounds than the restaurant industry. Big fast-food service chains have fared well with many of these stocks trading at record highs. Meanwhile, local restaurants faced a brutal reality that forced many to close as COVID infections and government restrictions, weigh heavily on the industry.

 

On Monday, McDonald's (NYSE: MCD) and Beyond Meat (NYSE: BYND) third quarter earnings reports reflected diverging fortunes that are present across the restaurant landscape.

 

Beyond Meat

 

On Tuesday, shares of Beyond Meat plunged more than 16% after the company reported revenue grew just 2.7% compared to the same quarter last year. CEO Ethan Brown said these results reflected a full brunt and unpredictability of the pandemic. The biggest hit to Beyond Meat came from its restaurant customers. As for the U.S. segment, although the retail channel skyrocketed 40.5%, foodservice sales dropped 11.1% compared to last year.

 

Internationally, foodservice revenues dropped 65% whereas sales at retail locations merely increased by 26.7%. Bars, pubs, local restaurants and smaller regional chains, movie theaters and many more businesses that were among the worst hit by the pandemic make up as much as two-thirds of Beyond's foodservice sales.

 

Sales across the industry to these customers fell 37.5% in the quarter whereas Beyond's sales were down 34.7% in the third quarter. The paradox is that while these figures show that Beyond is gaining share, its main customer base is getting crushed by the pandemic.

 

But, Beyond Meat knows its success depends on getting its product out there as much as possible. It has partnered with McDonald's on a McPlant burger venture, with some analysts already estimating the expansion of this partnership could bring in $300 million annually to Beyond. Also on Tuesday, Beyond Meat announced a new deal with Yum Brands-owned Pizza Hut (NYSE: YUM) which involves its Beyond Sausage toppings which will be offered both the U.S. and U.K.

 

McDonald's

 

Unlike Beyond, the fast-food giant's earnings topped estimates as they were fueled by U.S. sales recovery. McDonald's delivered fiscal third-quarter net income of $1.76 billion, or $2.35 per share. This an increase from last year's comparable quarter when net income amounted to $1.61 billion, or $2.11 per share. Revenue edged 2% down to $5.42 billion, yet beating expectations of $5.4 billion. Digital sales accounted for 20% of overall revenue.

 

Although international comps fell 4.4% in the third quarter, they grew during each month of the quarter at McDonald's U.S. locations while recording low double-digit sales growth in September. CFO Kevin Ozan stated September was the best month for U.S. comps in almost a decade.† What a contrast compared to Beyond's international foodservice decline that expanded to 65% in the third quarter, after an already bad decline of 56.5% in the second quarter. Moreover, McDonalds will increase its quarterly cash dividend by 3% to $1.29 per share.

 

Outlook ...

 

more

https://finance.yahoo.com/news/mcdonalds-beyond-meat-outline-diverging-175315895.html