We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Starbucks to Bring Plant-Based Menu to China With Beyond Meat
Read MoreHide Full Article
Starbucks Corporation (SBUX - Free Report) is leaving no stone unturned to attract customers in China. The company’s collaboration with Beyond Meat, Inc. (BYND - Free Report) to roll out a plant-based lunch menu in the country is a testament to the same.
Now Starbucks customers can enjoy pastas and lasagna made utilizing Beyond Meat's plant-based beef products. It will also include meatless pork alternative known as Omnipork and popular non-dairy milk called Oatley. The new menu will debut at more than 3,300 Starbucks locations in China on Wednesday. Both the companies have already partnered to roll out a plant-based sandwich to Canadian locations.
Starbucks is making every effort to recover from coronavirus-induced shutdown in China. More than 95% of its stores in China are currently operational. However, many are operating with reduced hours and limited seating. In February, China comparable stores sales plunged 78%. However, in March comparable stores sales recovered at a slightly faster pace and the company witnessed a decline of 64%. Moreover, in the last week of March sales declined 42%, representing seventh straight week of sequential improvement.
Moreover, shares of the company were down 18.6% in the past three months, compared with the industry’s decline of 16.6%. The downside can primarily be attributed to the coronavirus pandemic.
Menu Innovation to Drive Growth
Starbucks is strengthening product portfolio with significant innovation around beverages, refreshment, health and wellness, tea and core food offerings. Starbucks is focusing on fast-growing categories like Cold Brew, Draft Nitro beverages, and plant-based modifiers, including almond, coconut, and soy milk alternatives.
Apart from the numerous beverage innovations, Starbucks has also been making an effort to offer more nutritional and healthy products to customers. Meanwhile, the company’s Reserve Roastery and Tasting Room elevates the coffee experience to the next level, with small-batch super-premium coffee produced using innovative coffee-brewing techniques.
The company currently carries a Zacks Rank #3 (Hold).
BJ's Restaurants and Potbelly have an impressive long-term earnings growth rate of 15% and 17.5%, respectively.
Dine Brands Global’s current-year earnings are likely to witness growth of 4%.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2019, while the S&P 500 gained and impressive +53.6%, five of our strategies returned +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%.
This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.
Image: Bigstock
Starbucks to Bring Plant-Based Menu to China With Beyond Meat
Starbucks Corporation (SBUX - Free Report) is leaving no stone unturned to attract customers in China. The company’s collaboration with Beyond Meat, Inc. (BYND - Free Report) to roll out a plant-based lunch menu in the country is a testament to the same.
Now Starbucks customers can enjoy pastas and lasagna made utilizing Beyond Meat's plant-based beef products. It will also include meatless pork alternative known as Omnipork and popular non-dairy milk called Oatley. The new menu will debut at more than 3,300 Starbucks locations in China on Wednesday. Both the companies have already partnered to roll out a plant-based sandwich to Canadian locations.
Starbucks is making every effort to recover from coronavirus-induced shutdown in China. More than 95% of its stores in China are currently operational. However, many are operating with reduced hours and limited seating. In February, China comparable stores sales plunged 78%. However, in March comparable stores sales recovered at a slightly faster pace and the company witnessed a decline of 64%. Moreover, in the last week of March sales declined 42%, representing seventh straight week of sequential improvement.
Moreover, shares of the company were down 18.6% in the past three months, compared with the industry’s decline of 16.6%. The downside can primarily be attributed to the coronavirus pandemic.
Menu Innovation to Drive Growth
Starbucks is strengthening product portfolio with significant innovation around beverages, refreshment, health and wellness, tea and core food offerings. Starbucks is focusing on fast-growing categories like Cold Brew, Draft Nitro beverages, and plant-based modifiers, including almond, coconut, and soy milk alternatives.
Apart from the numerous beverage innovations, Starbucks has also been making an effort to offer more nutritional and healthy products to customers. Meanwhile, the company’s Reserve Roastery and Tasting Room elevates the coffee experience to the next level, with small-batch super-premium coffee produced using innovative coffee-brewing techniques.
The company currently carries a Zacks Rank #3 (Hold).
Stocks to Consider
Some better-ranked stocks worth considering in the same space include BJ's Restaurants, Inc. (BJRI - Free Report) and Potbelly Corporation (PBPB - Free Report) . Both the stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
BJ's Restaurants and Potbelly have an impressive long-term earnings growth rate of 15% and 17.5%, respectively.
Dine Brands Global’s current-year earnings are likely to witness growth of 4%.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2019, while the S&P 500 gained and impressive +53.6%, five of our strategies returned +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%.
This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.
See their latest picks free >>