Restaurant Brands‘ (QSR) Tim Hortons will test meatless Beyond Meat (BYND) sausages in breakfast sandwiches. Restaurant Brands also plans a big global expansion for its Burger King, Time Hortons and Popeyes brands, as growth slows. Beyond Meat stock soared to a record high, clearing a buy point. Restaurant Brands stock rose, still in buy range.
Canada’s Tim Hortons said Wednesday it has started to test three breakfast options using pure plant-based Beyond Meat sausages, including a vegan sandwich.
The Beyond Meat sausage patties taste “just like meat,” the release said. The new breakfast options are available at select Canadian restaurants, with a national rollout possible by the end of summer depending on how market tests go.
At an investor day in New York, Restaurant Brands announced plans to vastly increase Burger King, Tim Hortons and Popeyes Louisiana Kitchen locations. They will grow from roughly 26,000 locations to 40,000-plus over the next decade, up more than 54%.
Beyond Meat Stock Analysis
Beyond Meat stock, a hot new IPO, shot up 12% to 89.18. Shares surged 15% on Tuesday after debuting May 2 at 25.
Beyond Meat stock has now cleared a short IPO base with a buy point of 85.55. However, the stock market is in a correction, which means investors should largely avoid any new buys.
The company has seen same-store sales growth stall or decline at Burger King and Popeyes. Tim Hortons, the biggest of the trio by revenue, also saw comp sales fall in the latest quarter..
Restaurant Brands, a holding company formed in 2014 by 3G Capital, has come under pressure to reignite growth.
Please follow Aparna Narayanan on Twitter at @IBD_ANarayanan for stock market news and more.
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