Restaurant chains have turned to meat alternatives from Beyond Meat and Impossible Foods to attract customers trying to cut back on their meat consumption, but it's unclear whether they're gaining traction.
That fell short of Wall Street estimates.
The meatless patties are produced by California tech startup Impossible Foods. A single Impossible Whopper sandwich costs $5.99.Burger King's Impossible Whopper may have built up buzz, but the plant-based burger wasn't enough to lift the chain's same-store sales growth as high as Wall Street estimates in the fourth quarter.
"As I mentioned, the Impossible Whopper was a big highlight of 2019 and continued to be an important sales driver in the fourth quarter, generating healthy levels of incrementality at a premium price point," Cil told analysts on a conference call Monday. The language was a departure from last quarter when the company said the product was a strong contributor to Burger King's U.S. same-store sales growth of 5% after launching nationally in August. Executives said then that the item was bringing back customers who had not returned in a while, as well as younger consumers. Restaurant Brands does not break out the sales results for the Impossible Whopper.
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