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.
Catherine Zeta-Jones’ daughter is growing up fast, and she looks just like her famous mom
Growing up in the shadow of two Hollywood celebrities can’t be simple.
Dylan Michael and Carys Zeta Douglas, offspring of Michael Douglas and Catherine Zeta-Jones, seem to live a life of luxury and privilege, as one might expect.
Their journey through adolescence has captivated media attention, speculating whether they would follow their famous parents into show business.
Recent developments suggest Carys might just be stepping into her mother’s shoes.
Zeta-Jones openly expressed her hopes for her children to pursue acting, saying: “You want to watch them on stage”. She shared how both kids have shown interest in the craft, with Dylan aiming for a theater degree and Carys initially leaning towards acting over becoming a pediatrician.
The public is keenly following their aspirations, especially Carys, whose striking resemblance to her mother has become a talking point. Her runway debut at New York Fashion Week last year created quite a buzz.
Despite being just 15, Carys has maintained a low profile. However, a recent appearance with her mother at the Dolce & Gabbana Alta Moda event in New York brought her back into the spotlight. The duo arrived in matching outfits, drawing attention not just for their attire but also for their uncanny resemblance.
Carys is blossoming into a beautiful young woman, much like her famous mother, and reports suggest she possesses a similarly kind-hearted nature.
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