| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
McDonald’s Corp. (NYSE:MCD) confirmed that its previous attempts to introduce plant-based meat in the U.S. were unsuccessful.
The burger chain’s customers do not frequent its restaurants for salads or plant-based options, according to Joe Erlinger, McDonald’s U.S. chief, who spoke at the Wall Street Journal’s Global Food Forum in Chicago.
The trial of the McPlant burger in San Francisco and Dallas did not meet expectations, wrapping up in 2022, reported Bloomberg.
Erlinger stated that American consumers are not seeking plant-based proteins from McDonald’s, although such products have seen more success in Europe.
Also Read: McDonald’s Announces $5 Value Meal As It Looks To Win Back Customers
Erlinger noted that if there is a strong demand for salads at McDonald’s, the company would consider relaunching them.
Instead, McDonald’s is focusing on expanding its chicken offerings as this protein has become more popular among its customers.
McDonald’s sells more chicken than beef, driven by the affordability of chicken production. “Chicken is less expensive to produce, and so for a consumer that's looking for more affordable food, chicken is a great option right now,” Erlinger explained.
It is to be noted that Beyond Meat Inc. (NASDAQ:BYND), provider of plant-based meats, such as burgers, sausage, ground beef and chicken has partnered with McDonald’s for the McPlant burger.
Price Action: MCD shares closed higher by 0.17% at $257.83 on Wednesday.
Read Next:
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
