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BEYOND MEAT, INC.

(BYND)
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Starbucks adds plant-based items to Asian menus from Beyond Meat, others

09/07/2020 | 11:10pm EDT
FILE PHOTO: Customers dine at a Starbucks store in Petaling Jaya, Malaysia

Starbucks Corp 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 Inc, 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, caramelised 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.

(Reporting by Farah Master; Editing by Christopher Cushing)


ę Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BEYOND MEAT, INC. 1.52% 149.42 Delayed Quote.19.54%
MSCI TAIWAN (STRD) 0.59% 710.15 Real-time Quote.17.49%
STARBUCKS CORPORATION 0.31% 112.56 Delayed Quote.4.89%
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Financials (USD)
Sales 2021 566 M - -
Net income 2021 -60,2 M - -
Net Debt 2021 97,4 M - -
P/E ratio 2021 -179x
Yield 2021 -
Capitalization 9 423 M 9 423 M -
EV / Sales 2021 16,8x
EV / Sales 2022 11,3x
Nbr of Employees 700
Free-Float 89,1%
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Technical analysis trends BEYOND MEAT, INC.
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Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 21
Average target price 116,20 $
Last Close Price 149,42 $
Spread / Highest target 27,2%
Spread / Average Target -22,2%
Spread / Lowest Target -61,2%
EPS Revisions
Managers and Directors
NameTitle
Ethan Walden Brown President, Chief Executive Officer & Director
Gary A. Schultz Chief Financial Officer, VP & Controller
Seth Goldman Chairman
Sanjay C. Shah Chief Operating Officer
Raymond J. Lane Lead Independent Director
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