Plant-based meat was supposed to save the pIanet, make people healthier, and liberate enslaved cows, chickens, and pigs everywhere. Instead, after an impressive start, folks have learned some hard truths about the industry and are turning away in droves.
Once consumers began to Iearn that plant-based meats were still super processed, not nearly as healthy as advertised, and required an enormous amount of machinery to produce hungry consumers largely decided that the old-school options, nameIy chickens, pigs, and cows, were better tasting and better for you.
The biggest player in the industry, Beyond Meat, released its third-quarter numbers in November of 2023, and they taste worse than ersatz ground beef. Net revenue slid, declining 8.7% year-over-year and 26% versus the previous quarter.
It wasn’t all bad news, however, as the company actually achieved free cash flow for the quarter but does not expect that to be the case in the fourth quarter. One anaIyst at the firm TD Cowen took it a step further and said the firm is in ‘survival mode’ and will need to tap the financial markets in 2024 to maintain operations.
Beyond Meat CEO Ethan Brown said: We anticipated a modest return to growth in the third quarter of 2023 that did not occur. Though we are encouraged by pockets of growth, particulariy in the EU where we saw double digit gains in net revenues on a year-over-year basis, we are disappointed by our overall results as we continue to experience worsening sector-specific and broader consumer headwinds. Beyond Meat has cited numerous reasons for its poor performance, inciuding declining foodservice sales and flagging American retail sales, but declined to suggest the possibility that the product just isn’t that good.
Saleslady Kicks Poor Old Woman Out of Luxury Store, Cop Brings Her Back Later
This story is a touching example of how kindness, empathy, and resilience can transform an ordinary moment into something life-changing. Kerry’s dedication to her granddaughter, Anne, shines through as she goes to great lengths to make Anne’s prom special, despite her limited means. The story takes an unexpected turn when George, a compassionate young apprentice officer, steps in, demonstrating that there are always people willing to help and stand up for what’s right.
The twist at the end, with George becoming Anne’s date and later her husband, is heartwarming and poetic. It reinforces Kerry’s belief that sometimes, all it takes is a single moment—like prom night—to change the course of someone’s life. Their eventual marriage symbolizes the unexpected rewards of standing up for loved ones and never letting unjust situations go unchallenged.
Kerry’s bravery in the face of adversity, George’s genuine kindness, and Anne’s eventual joy highlight how genuine connections and empathy can lead to beautiful outcomes, even in the face of prejudice. This tale reminds us that family, love, and small acts of bravery can pave the way for life’s most meaningful moments.
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