Market Overview

Starbucks Adds Beyond Meat Sandwich To Menu In Canada, Continues Carrying Out 'More Environmentally Friendly Menu' Plans

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Starbucks Adds Beyond Meat Sandwich To Menu In Canada, Continues Carrying Out 'More Environmentally Friendly Menu' Plans

Starbucks Corporation’s (NASDAQ: SBUX) Canadian customers will now have a Beyond Meat Cheddar and Egg Sandwich on the menu.

What Happened

Starbucks announced Wednesday that it would be launching a Beyond Meats Inc. (NASDAQ: BYND) sandwich in its spring menu. 

The burger will contain Cheddar and Egg along with fake meat from Beyond Meat served on an ”artisanal” bun, which is set to broaden the choice on the Starbucks breakfast menu starting Mar 3.

Why It Matters

The effort by Starbucks to shift to “plant-based” options “migrating towards a more environmentally friendly menu,” along with a slew of other planet-friendly measures was announced Jan 21 by CEO  Kevin Johnson.

A survey of 3,500 adults indicated that 62% of respondents were not interested in such an alternative, with only 2% showing a preference for Beyond Meat products.

The “fake meat” segment is set to witness further competition as Minnesota-based Cargill also enters the fray to produce plant-based meat alternatives. 

Price Action

Starbucks shares traded 0.26% higher at $82.40 in the pre-market session on Wednesday. The shares had closed the regular session 2.76% lower at 82.19 on Tuesday.

Beyond Meat shares traded 0.073% higher at $110 in the pre-market session on Wednesday. The shares had closed the regular session 3.55% lower at $109.92 on Tuesday.

 

Related Articles (SBUX + BYND)

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