Beyond Meat’s sales have fizzled rather than sizzled after fast-food trials of its product had customers asking, “Where’s the beef?”
McDonald’s is the latest fast-food giant to complete a trial of a Beyond Meat plant-based product (the McPlant burger).
JPMorgan Chase & Co. analyst Ken Goldman released a market research note that indicated the product was being broadly discontinued in the U.S. last Thursday. The two companies signed a three-year global distribution deal in 2021.
Mr. Goldman, who spoke with employees at 25 McDonald’s locations, wrote that “Not surprisingly, the reason sometimes being cited is that the product did not sell well enough” and that the product was “McDone” in the U.