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  #1   ^
Old Fri, Nov-03-23, 01:56
Demi's Avatar
Demi Demi is offline
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Default Beyond Meat to lay off workers as ‘veggie misinformation’ bites

Quote:
Beyond Meat to lay off workers as ‘veggie misinformation’ bites

The plant-based burger firm that supplies McDonald’s with vegan patties blamed “misinformation about our products” as it cuts a fifth of its non-production workforce.

Beyond Meat has said that it will lay off 65 employees, representing 19 per cent of non-production staff and about 8 per cent of its global workforce.

The company’s sales forecasts were downgraded to between $330 million and $340 million, down a fifth compared with 2022, and compared with a previous outlook of $360 million to $380 million. Its estimated third-quarter net revenue of $75 million fell below analysts’ expectations of about $88 million. Ethan Brown, the chief executive of Beyond Meat, said: “We anticipated a modest return to growth in the third quarter of 2023 that did not occur, reflecting further sector-specific and consumer headwinds.”

The company has been grappling with inflation-weary customers veering back to lower-priced animal meat at a time when it faced rising competition in its plant-based business from Tyson Foods and the privately owned Impossible Foods.

Last year Beyond Meat announced it would cut 200 jobs in an attempt to rein in costs, and in August it revealed quarterly sales had dropped by a third and volumes were down by a quarter.

Brown said that the company would be “reviewing our pricing strategy to support gross margin expansion” and “using our portfolio and marketing to directly counter misinformation about our products and category”.

Some critics have cast doubt on the health credentials of plant-based meat.

Brown added: “Even as we implement measures to address those headwinds that are within our sphere of influence, we intend to pursue a further, sizable reduction of operating expenses to improve our cost structure.”

Shares in New York-listed Beyond Meat have almost halved in the past six months but rallied to close up $1.09, or 18.4 per cent, at $7 on Wall Street, valuing it at $451 million.

https://www.thetimes.co.uk/article/...bites-gnzmnmrr8
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  #2   ^
Old Fri, Nov-03-23, 03:21
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WereBear WereBear is offline
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There's a corner of the meat department (why aren't the vegans complaining about the proximity? As they do!) that was stocked with Beyond Meat. I noticed it slowly shrinking...

And there's trouble in the refrigerated cheesecake section. Their GF chain is broken, but that's okay, I know how to make my own in the microwave. I just need to remember the night before, because the "curing" in the fridge is vital, much like Atkin's rolls.

So there's all this plant-based cheesecake, just sitting there. Much like artificial meat, tofu-based cream cheese just does not cut it.
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  #3   ^
Old Fri, Nov-03-23, 07:37
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Dodger Dodger is offline
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It seems that the company is slowly heading toward bankruptcy.
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  #4   ^
Old Fri, Nov-03-23, 13:19
Grav Grav is offline
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The "misinformation about our products" that came from the makers themselves, of course.

Sad for those people losing their jobs of course, but this industry was never going to be a sustainable one.
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  #5   ^
Old Fri, Nov-03-23, 14:23
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Ms Arielle Ms Arielle is offline
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Quote:
The company has been grappling with inflation-weary customers veering back to lower-priced animal meat



In my world, everything is calculated on dollar cost per pound protein. And vegetable protein is a far cry from the complete protein of animal meats.

Why would I pay more per pound of vegetable matter than the complete amino acid profile of meat proteins?

Im very frugal.

A good veggie burger would be a treat in a past life. These days with less money, meat protein based on cost per pound, is far less than many whole vegetables ( cost per #) and processed cereals. ie fruit loops, Cheerios. That's putting protein aside!!
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  #6   ^
Old Fri, Nov-03-23, 14:24
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Ms Arielle Ms Arielle is offline
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Quote:
Originally Posted by Grav
The "misinformation about our products" that came from the makers themselves, of course.

Sad for those people losing their jobs of course, but this industry was never going to be a sustainable one.


I felt the jolt of job losses, too.

We need to support more jobs that are sustainable for generations.
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  #7   ^
Old Sat, Nov-04-23, 04:25
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WereBear WereBear is offline
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Quote:
Originally Posted by Ms Arielle
I felt the jolt of job losses, too.

We need to support more jobs that are sustainable for generations.


The thing about business today is how so much of it is not about solid business principles which endure for generations. Smash and grab and con artists. That's what MBAs are taught now, and it shows.
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  #8   ^
Old Sat, Nov-04-23, 21:10
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Bob-a-rama Bob-a-rama is offline
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It makes no difference to me, as I would never buy fake meat. I avoid highly processed foods, and vegan-tastes-like-beef must be insanely processed. Besides, I think meat is good for me. Humans have been eating meat since before we were even consider Homo Sapiens.

I don't oppose offering vegans something, but if there aren't enough of them to keep the company in business, that's the way it goes in a semi-free market system.
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  #9   ^
Old Sun, Nov-05-23, 03:39
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WereBear WereBear is offline
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Veganism is a scam. It started as a dream, from the woman who had a religious vision, founded Christian Science (!), and preached that a certain religious figure would come back when every human on the earth was vegan.

Because it's everyone's libido blocking the Rapture.

That, and the money Seventh Day Adventist church makes from their food companies, which are based on this prophecy. One of the biggest is Kellogg's.

And it is all tied up in bogus health claims and the panics from each wave of Atkins popularity, and then the discovering of the healing properties of ketosis and the dangers of oxalates looming into people's consciousness like a mountain about to fall over.

They don't have that many actual vegans, who live on convenience foods like any other unaware out there, but they are pushing the culture to think "Plant based" and grab something with that on the label.

It's "convenience nutrition," too.
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  #10   ^
Old Sun, Nov-05-23, 09:17
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doreen T doreen T is offline
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Exclamation

Just a reminder for everyone to stick to the topic of waning popularity/profitability of plant-based "meats". If you wish to discuss veganism in this and other threads around the forum, then please do so without also bashing religion(s). Read why here.

Thanks for understanding
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  #11   ^
Old Mon, Nov-06-23, 02:04
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WereBear WereBear is offline
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I meant no disrespect to anyone's spirituality. I'll just apologize.

Last edited by WereBear : Mon, Nov-06-23 at 02:13.
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  #12   ^
Old Sun, Nov-19-23, 01:58
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Demi Demi is offline
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Quote:
Beef burgers are back on the menu as demand for vegan food plunges

Beyond Meat, the plant-based food company, has revealed its revenue dropped by 9pc as demand for its meat alternatives stalled


Veganism is being edged out and meat is back on the menu with the latest craze among foodies being “smashed burgers”, new data suggests.

Plant-based brand Beyond Meat last week revealed its revenue had dropped by 9 per cent as demand for its animal alternatives stalled.

The company said it would cut around a fifth of its workforce in response to its performance.

Overall industry sales of meat alternatives are down 13.6 per cent over the last year, with an expert analyst Carol RatCliffe saying: “After many years of strong growth, meat alternatives have fallen into decline.”

It comes after Tesco, Asda, Sainsbury’s and Morrisons slashed their vegan ranges by 10 per cent, according to the Grocer, and Pret A Manger axed 75 per cent of its vegetarian-only stores in December. There were also “notably fewer” patrons at the UK’s biggest indoor vegan event, Vegan Fest, last year, the BBC reported.

Meanwhile, UK meat consumption is on the up.

An average Briton consumed 61.7kg of meat in 2022, compared with 55.8kg in 2012, according to Statista data published in August. And the UK’s collective appetite is forecast to remain strong until 2027.

The new trend reviving the nation’s hunger for meat are burgers – “smashed burgers”.

The beef boom is being turbocharged by patties which are flattened on the grill with the back of a spatula searing the meat and creating crispy edges, while locking in the juices.

Many restaurants such as Supernova, Bleecker Burger, Black Bear Burger and Beefy Boys have developed cult-like followings and won praise from industry-leading chefs.

All of which has made the trendy burger style near ubiquitous in towns and cities up and down the country.

Toby Inskip, who tracks UK food trends and has more than one million followers across his social media accounts called Eating With Tod, said he first tried a smashed patty five years ago and that the practice has “revolutionised” burgers.

He said: “It has made something that was always quite dry and boring, exciting and aesthetically pleasing.

“Smashed burgers bring a whole new experience to the table, with its added crispiness and better taste, it’s a different league to old school burgers.”

He said people are now creating entire, and crucially, successful businesses around burgers.

Molly Hutchinson, who organises the annual meat festival Meatopia, said such businesses are developing “cult” followings. Ms Hutchinson said: “What we’re seeing at the moment is a rise in the cult burger brands. It’s great to see more burger restaurants with strong ethos around sustainable, responsibly sourced meat.”

She said responsibly sourced meat is more sustainable than heavily processed meat alternatives. “I think we can all agree we should be eating more vegetables,” Ms Hutchinson said. “But heading to your local butcher and buying locally sourced, grass fed beef burgers is more sustainable than grabbing an over processed meat alternative. We can still be environmentally conscious and balanced in our diets, whilst also having delicious, varied meals.”

When asked if vegan smashed burgers were in competition with their real meat counterparts, Mr Inskip said: “They don’t really work, it’s alright, but the whole point is to get the crisp edge and charred quality, but with a vegetable you just don’t get that caramelisation.”

https://www.telegraph.co.uk/news/20...-based-plunges/
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  #13   ^
Old Sun, Nov-19-23, 02:52
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WereBear WereBear is offline
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Quote:
It’s great to see more burger restaurants with strong ethos around sustainable, responsibly sourced meat.”


This is the path to sanity, and the eventual end of factory farms. In fact, it's one of the reasons -- prodded by my fans -- that I've started on on TikTok, last week.

People are trying to feed their cats vegan again.

And that is my business
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  #14   ^
Old Sun, Nov-19-23, 06:10
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Ms Arielle Ms Arielle is offline
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Quote:
People are trying to feed their cats vegan again.


Very sad. Cats can't be vegan. They must eat meat. Especially, taurine. Taurine is added to cat food, it's that important.
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  #15   ^
Old Sun, Nov-19-23, 23:30
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deirdra deirdra is offline
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In my world, everything is calculated on the dollar cost per 100g of protein. And yes, vegetable protein is a far cry from the complete protein of animal meats. I also find that legume & grain proteins cause me inflammation, so I get 85-95% of my protein from animal sources. If I don't, my nails & hair start getting brittle and I don't want my muscles to wither!

I base my meals on the bioavailable protein and even plan my shopping that way, looking at the online flyers to see what meat/poultry/fish protein is on sale that week before deciding where to shop and what to buy, with extra for freezing.

I too am surprised the vegans & vegetarians don't whine more about real meat sitting next to their fake-meat chemical concoctions in stores. In my stores the fake cheeze and fake milks are farther away from the real stuff, though the Canadian Dairy cartel/lobby probably has something to do with that.

Last edited by deirdra : Sun, Nov-19-23 at 23:42.
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