BYND/YUM
BYND is a SHORT
According to Bloomberg, Taco Bell canceled a planned test of a product from Beyond Meat Inc. after the fast-food chain was dissatisfied with samples in October, according to people directly knowing the matter. Two Beyond Meat employees from the team that made the product, designed to mimic grilled meat known as carne asada, were terminated, "according to the people, who asked not to be named discussing private information." There is hope, as another test of a Beyond Meat product could still happen as the companies will continue to work together, the article said.
Changes at SBUX
The Starbucks Workers United organizing committee won a majority in one of three New York Starbucks stores, voting for unionization. While the Buffalo location voted to unionize, the Hamburg store voted against the efforts, and the unit in Cheektowaga remains unresolved as challenges continue to several of the ballots. Workers say they've faced down a months-long campaign of anti-union intimidation, including visits from senior executives, implicit threats to benefits, and meetings where multiple managers pressured individual workers to vote against the union. Starbucks, by contrast, argues it is just trying to understand its employees. "Our focus is on listening to our partners, addressing their needs, and ensuring we are delivering the very best Starbucks Experience we can offer," a Starbucks spokesperson wrote in an email. "We support our partners' right to have their voices heard, and we are committed to listening." The election could provide momentum to organizing at four other Starbucks stores that have petitioned for elections and signal a potential shift in the balance of power within the QSR segment.
CPKI
Look like CPKI is prepping to go public. Wednesday, the company announced that California Pizza Kitchen had launched its first-ever domestic franchising program. The full-service chain, which emerged from bankruptcy in late 2020, said it has returned to 2019 performance levels and added new international partnerships in Canada and Hong Kong. CPK, which has nearly 200 units across eight countries and U.S. territories, joins a growing list of chains that have increased development efforts through franchising, including Papa John's, Jack in the Box, and Caribou Coffee.
