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.
20+ Stunning Red Carpet Outfits That Caught Everyone’s Attention
As soon as a celebrity hit the red carpet, their outfits are all over the Internet. But sometimes you have to look closely at every little detail to appreciate their fascinating gowns.
Margot Robbie showed up to the Oscars after-party in a playful vintage corset embellished with tiny beads.
Lance Goldberg/Broadimage Entertainment/Broad Image/East News, Evan Agostini/Invision/East News
Thanks to the unusual cut of Emma Stone’s dress, it seemed that the actress was wearing one dress on top of another.
JERRY PEREZ / Avalon/Photoshot/East News
Rosamund Pike hit the red carpet carrying roses, but they were in the pockets of her fancy dress.
Fati Sadou/ABACAPRESS.COM/Abaca/East News
Nicole Kidman looked like a fairy tale bird in this intricate feathered dress.
CJ Rivera / Invision / East News
Blake Lively’s jumpsuit was so long that it looked like having 2 trains at once.
Evan Agostini / Invision / East News, Evan Agostini / Invision / East News
Valentina Ferrer’s dress seemed very chaste. But as soon as she turned sideways, it wasn’t anymore.
ANGELA WEISS / AFP / East News, ANGELA WEISS / AFP / East News
Sharon Stone’s classic pantsuit might well have been overlooked if it wasn’t for the big flower brooch.
Collin Xavier / Image Press Agency ABACA / Abaca / East News, Collin Xavier / Image Press Agency ABACA / Abaca / East News
At the Vanity Fair party, Diane Kruger wore one of the hottest trends — knee-high socks.
MICHAEL TRAN/AFP/East News
Anne Hathaway’s dress design made it look like she descended straight from the clouds.
ANGELA WEISS / AFP / East News, ANGELA WEISS / AFP / East News
Gwyneth Paltrow’s outfit looks quite ordinary at first glance. But when you start to look at it closely, you’ll spot see-through inserts and a bare belly.
JTMLA / Broadimage Entertainment / Broad Image / East News, JTMLA / Broadimage Entertainment / Broad Image / East News
At the Swarovski shop opening, model Ashley Graham sparkled with thousands of crystals.
NDZ / STAR MAX / IPx / Associated Press / East News, NDZ / STAR MAX / IPx / Associated Press / East News
The skirt of Sidney Sweeney’s outfit was decorated with a huge bow. And if you look closely, you can see a similar accessory on her hair.
Guerin Charles / ABACA / Abaca / East News, ANGELA WEISS / AFP / East News
Naomi Campbell’s intricate collar has taken over the spotlight.
Vianney Le Caer / Invision / East News, Vianney Le Caer / Invision / East News
The mesmerizing pearl inset on Lily James’ dress draws attention like a magnet.
Vianney Le Caer / Invision / East News, Vianney Le Caer / Invision / East News
For the Vanity Fair party, Heidi Klum opted for a gold dress with multiple slits all over the length.
Lance Goldberg/Broadimage Entertainment/Broad Image/East News
Kate Hudson was simply irresistible in a dress that resembled a bouquet of flowers.
Evan Agostini / Invision / East News, Evan Agostini / Invision / East News
Chrissy Teigen also looked like an exotic flower thanks to the quirky decor of her dress.
Collin Xavier / Image Press Agency ABACA / Abaca / East News, Collin Xavier / Image Press Agency ABACA / Abaca / East News
Halle Berry’s gorgeous gown was spiced up by a daring double slit.
Evan Agostini / Invision / East News
Sienna Miller’s dress, inspired by the ’20s style, had an unexpected twist when she turned around.
ANGELA WEISS / AFP / East News, Gilbert Flores / Broadimage Entertainment / Broad Image / East News
Carey Mulligan delighted everyone with a gorgeous two-color gown featuring a flowing drape from back to bottom.
IMAGO/Frederic Kern/Imago Stock and People/East News, Thomas Bohlen/Starface/STARFACE PHOTO /East News
At the premiere of Dune: Part Two, Zendaya caused a sensation by appearing on the red carpet dressed in armor.
Scott A Garfitt/Invision/East News
And here is a compilation of unique celebrity outfits that made a stylish splash.
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