Sysco Reports on U.S. Foodservice Growth for Q2 Fiscal 2020
HOUSTON, TX - As Sysco Corporation continues its upward growth, the company has released its second quarter fiscal 2020 results, revealing an overall increase in sales and profits. Its foodservice operations, both in the U.S. and abroad, in particular saw favorable results, indicating significant growth in the sector.
“Our second quarter fiscal 2020 results were driven by improved local case growth in our U.S. Foodservice segment, particularly within our independent customers.” said Joel Grade, Chief Financial Officer. “While our adjusted earnings per share were in-line with expectations for the quarter, our operating income results fell short. We remain focused on executing against all of our strategic initiatives to strengthen our long-term performance while maintaining our focus on the customer.”
Some of the highlights of Sysco’s foodservice Q2 growth include:
- U.S. sales at $10.4 billion, an increase of 3.2 percent
- U.S. gross profit at $2.0 billion, an increase of 2.4 percent
- International sales at $2.9 billion, no increase
- International gross profit at $586.0 million, a decrease of 0.7 percent
According to the financial report, the company’s organics operations were a source of growth in the foodservice sector, and though food cost inflation in the U.S. was up by 2.6 percent, it did not negatively impact Sysco’s foodservice sales.
To read the financial report in its entirety, click here.
Will this success in the foodservice sector prompt Sysco to devote more resources to its foodservice operations? Keep reading AndNowUKnow for more updates.