Beyond Meat Faces Setback As Carl's Jr. And Del Taco Drop Products: Report
Portfolio Pulse from Shivani Kumaresan
Beyond Meat Inc. (NASDAQ:BYND) faces challenges as Carl's Jr. and Del Taco, owned by Jack In The Box Inc. (NASDAQ:JACK), remove its products due to declining consumer interest. Despite a recent stock rally, Beyond Meat's first-quarter revenue fell 18% year-over-year. Investors can gain exposure via Vanguard Consumer Staples ETF (NYSE:VDC) and iShares Russell 2000 Growth ETF (NYSE:IWO).
May 21, 2024 | 10:35 am
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NEGATIVE IMPACT
Beyond Meat faces significant challenges as Carl's Jr. and Del Taco remove its products due to declining consumer interest. The company's Q1 revenue fell 18% YoY, and its stock has lost over 30% in the last 12 months.
The removal of Beyond Meat products by major partners Carl's Jr. and Del Taco indicates declining consumer interest, which negatively impacts revenue and stock performance.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
iShares Russell 2000 Growth ETF (IWO) provides exposure to Beyond Meat, which faces challenges as Carl's Jr. and Del Taco remove its products. This could impact the ETF's performance.
IWO's exposure to Beyond Meat, which is facing significant challenges, could negatively impact the ETF's performance.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 30
NEGATIVE IMPACT
Jack In The Box Inc. (JACK) sees its subsidiary Del Taco remove Beyond Meat products due to low sales. This could impact JACK's revenue from plant-based offerings.
Del Taco's removal of Beyond Meat products due to low sales could negatively impact JACK's revenue from plant-based offerings.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Vanguard Consumer Staples ETF (VDC) provides exposure to Beyond Meat, which faces challenges as Carl's Jr. and Del Taco remove its products. This could impact the ETF's performance.
VDC's exposure to Beyond Meat, which is facing significant challenges, could negatively impact the ETF's performance.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 30