How about a 'Beyond Meat, Cheddar and Egg' sandwich with that soy milk Frappuccino?
Starbucks' (SBUX) - Get Starbucks Corporation Report Canadian customers will soon be able to get a taste of Beyond Meat (BYND) - Get Beyond Meat Inc. Report when the coffee giant rolls out the faux-meat breakfast sandwich to some 1,400 Canadian locations starting next month.
While not Starbucks' first foray into the plant-based food and drink craze, it is the coffee-chain giant's first offering with Beyond Meat, which makes not only faux-meat burgers and dogs but also sausages, chicken and even ground beef.
It also comes as competition from the likes of McDonald’s (MCD) - Get Report, Dunkin' Brands (DNKN) - Get Report, Yum! Brands (YUM) - Get Report and more move to offer a variety of plant-based foods to their respective menus.
The launch comes just a few weeks after Starbucks Chief Operating Officer Rosalind Brewer told analysts that a plant-based breakfast sandwich was in the offing for both Canada and the U.S.
That follows Starbucks CEO Kevin Johnson's call for the coffee chain to be more sustainable, including expanding plant-based menu options and “migrating toward a more environmentally friendly menu,” he said in a January letter to investors.
It also comes as Beyond Meat prepares to serve up its latest quarterly results, due Thursday after the markets close.
Analysts polled by FactSet are expecting Beyond Meat to post earnings of 1 cent a share on sales of $80.5 million. The maker of plant-based beef and sausage substitutes beat Wall Street's estimates last quarter with a profit of 6 cents a share on sales of $92 million.
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