A burger so mainstream, it's everyone's Halloween costume
Here's an incredible headline to start your Hump Day: "A kitten that looks like Baby Yoda was rescued from a CA wildfire." A kitten that looks like Baby Yoda.
Stocks inched down as global COVID cases appear to be resurging. Understandably, airline stocks got the worst of yesterday's dip.
Snagged some prime real estate... next to prime rib. Beyond Meat just secured a whole lot more space for its plant-based patties in the fresh meat aisle. Beyond stock jumped 9% after the company announced it's expanding to 1.6K more Walmart locations. Ever since its Walmart debut in 2015, Beyond has grown its patty and sausage presence in the retailer's fresh and frozen aisles. Now, it's surpassing plant-based rival Impossible:
Well done on the price cutting... That's how Beyond likes its goals cooked (don't settle for medium-rare). Beyond wants to “make plant-based meat accessible to all." But then it realized that its plant meat costs 2X as much as regular beef.
Beyond is passing the mainstream test... Beyond's real goal is to get most meat-eaters eating its pea protein patties. Early adopters were vegans and vegetarians, but this Walmart deal proves it has expanded beyond that. Walmart is the keystone of accessibility and mainstream-ness in America. Read between the grill lines: Beyond must be performing well with shoppers if Walmart decided to triple the number of stores that offer it.
Pizza fix, wine fix, Netflix, Stitch Fix... One of these does not belong in the corona-conomy. Stitch Fix is the online personal styling service that uses stylists and algorithms to send you curated boxes of outfits each month (are you boho chic or sporty grunge?). Stitch Fix was a rare profitable young techy start-up — now, it's back to unprofitable basics:
Drop the last name... Like Madonna, but not at all. Stitch Fix's customers have been increasingly dropping the "Fix" (aka: the stylist-curated subscription part that it's known for). Earlier this year Stitch intro'd "direct buy," offering the option to buy individual clothing items. While this makes Stitch Fix way less interesting (and Fix-y), it provides:
The value is in the "Fix" — and Stitch could lose it... While direct buy is helping Stitch coast, the auto-ship Fix subscription is the real money-maker. Monthly recurring revenue is what makes companies like Netflix beloved by investors. Yesterday, Amazon launched a $5/month ‘personal shopper’ Prime service for men (it already has a women's one). Amazon can afford to offer lower prices and better data insights, throwing another wrench into Stitch's "Fix" biz.
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Disclosure: Authors of this Snacks own shares of Blackstone, Walmart, Amazon, and Beyond Meat