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Tim Hortons Scales Back On Beyond Meat Products In Canada

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Tim Hortons Scales Back On Beyond Meat Products In Canada

The iconic Canadian coffee and food chain Tim Hortons is scaling back on Beyond Meat Inc (NASDAQ: BYND) menu options companywide.

What Happened

Quebec-based French media outlet Journal de Montreal reported Wednesday that Tim Hortons, owned by Restaurant Brands International Inc (NYSE: QSR), will only sell Beyond Meat items in Ontario and British Columbia.

Shares of the plant-based food market traded lower by nearly 5% by Wednesday after the restaurant chain said it's scaling back the food items, which were introduced in July.

A Beyond Meat representative confirmed the report, noting it received "particularly positive reception" across the two provinces.

The menu items were introduced across Canada as a limited offering and "may be brought back in the future."

Similarly, a Tim Hortons representative told Benzinga it remains "proud to offer" Beyond Meat items in the two provinces.

"Like any limited time offer, we may explore offering the product again in other provinces at a future date based on ongoing guest feedback." 

Beyond Meat shares were down 4.78% at the time of publication Wednesday, while Restaurant Brands shares were down 1.31%. 

Benzinga's Take: Tim Hortons removing Beyond Meat items across most Canadian provinces within months of launch could be interpreted as a concerning sign of poor demand. 

Do you agree with this take? Email feedback@benzinga.com with your thoughts.

Related Links:

Beyond Meat Analyst Questions Market Opportunity, Starts Stock With A Sell Rating

Beyond Meat Products 'Catching On With Consumers,' JPMorgan Says In Upgrade

Photo by Jazz Guy via Wikimedia

Posted-In: Canada Journal de Montreal Tim HortonsNews Restaurants Media General Best of Benzinga

 

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