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Sysco Names Aaron E. Alt Chief Financial Officer
Sysco Corporation named Aaron E. Alt executive vice president and chief financial officer, effective Dec. 7, 2020. Joel Grade, currently executive vice president and chief financial officer, will assume a newly created role of executive vice president, business development. In this capacity, Joel will be responsible for accelerating both organic and inorganic sales growth through new business development, including strengthening future M&A capabilities. Joel’s extensive experience in operations and finance make him uniquely qualified for this role as Sysco looks to accelerate its business transformation.
Alt most recently served as chief financial officer and senior vice president of Sally Beauty Holdings, an international specialty retailer and wholesale distributor of professional beauty supplies, and...
Sysco Eliminates Minimum Delivery Requirements and Offers Services to Support Restaurant Industry
Sysco Corporation announced it will eliminate minimum delivery size requirements for customers’ regularly scheduled delivery days as part of the company’s Restaurants Rising campaign. This change is effective on Nov. 16 for all U.S. Broadline, FreshPoint, Buckhead Meat and Newport Meat customers.
Removing minimum delivery requirements is yet another way Sysco is leading the industry in supporting the success of restaurants, providing operators significant added flexibility in managing their business and making it easier to...
Sysco Reports Sales Decline in First Quarter Fiscal 2021 Results
On Tuesday Sysco Corporation announced their financial results for its 13-week first fiscal quarter, which ended September 26, 2020. According to the company, sales decreased by 23% to $11.8 billion and gross profit decreased by 24.6% to $2.2 billion.
“Although our first quarter 2021 results continue to be impacted by the pandemic, we are pleased with our overall expense management and our ability to produce positive free cash flow and a profitable quarter despite a 23% reduction in sales,” said Sysco president and CEO Kevin Hourican...
Sysco Announces 2020 Corporate Social Responsibility Report
Sysco Corporation announced it has published its 2020 Corporate Social Responsibility (CSR) Report, documenting the company’s progress toward its 2025 CSR goals and demonstrating its “Leadership In Extraordinary Times.”
Sysco’s industry-leading CSR strategy sets a clear path for the future and demonstrates the company’s enduring commitment to caring for people, sourcing products responsibly and protecting the planet.
“I am so proud of how Sysco associates have supported our communities – and each other – while also making significant progress toward our CSR goals. They have risen to the challenges that the pandemic has presented and...
Sysco Hires Judith Sansone in Newly Created Executive Role
Judith Sansone, who previously served as Chief Merchandising Offer for CVS Health, has joined Sysco in a newly created executive role.
Effective October 26, Sansone will be the company's new Executive Vice President and Chief Commercial Officer. The role will require Sansone to lead Sysco's overall commercial strategies, including responsibility for merchandising, marketing, pricing, digital sales enablement, customer loyalty program development, customer personalization and exploring new channel sales development. In addition, Sansone will also be responsible for coordinating company-wide efforts to profitably grow sales by...
Sysco Launches Holiday Toolkit for Restaurateurs to Help Navigate COVID-19 Shopping Season
Sysco Corporation announced the launch of its Holiday Toolkit, to its Foodie Solutions platform. This is the latest tool for foodservice operators who have been forced to quickly pivot to shifting business requirements and trends during the COVID-19 pandemic.
The Holiday Toolkit, provides simple ideas generating additional revenues and providing guests with restaurant-quality solutions for easy gift-giving and holiday meals including Unique takeout offerings, such as charcuterie and cheese boards with wine pairings; Take-and-make meal kits paired...
Demand for Grass-Fed Beef Products to Boost Market Growth
The grass beef market size is poised to grow by $14.50 billion during 2020-2024, progressing at a CAGR of over 6% throughout the forecast period, according to the latest report by Technavio.
The major grass beef market growth came from the fresh grass-fed beef products segment. The awareness of the health benefits of grass-fed beef such as higher content of omega-3 fatty acids linoleic acid and antioxidant vitamins like vitamin E fuel its demand in the US, Australia, and other markets. This consequently adds to the revenue, thus boosting...
Sysco Testing All-Electric Freightliner Truck
Sysco Corporation announced it is testing an all-electric Freightliner eCascadia from Daimler Trucks North America (DTNA). Sysco’s participation in this initiative is consistent with its Corporate Social Responsibility (CSR) strategy and the Company’s ongoing efforts to reduce its carbon footprint.
This initiative is a part of DTNA’s ongoing work to engage customers in its commercial electric vehicle development process by deploying trucks in real-world applications. Sysco aims to power more of its tractor fleet with alternative fuels, and deployment of electric trucks will play a significant role in achieving that objective.
“We are excited to partner with DTNA on this important work,” said Neil Russell, Sysco’s vice president of corporate affairs. “Collaborating with manufacturers to develop new truck models that can meet...
Tim Ørting Jørgensen Joins Sysco as Executive VP & President, Foodservice Operations – International
Sysco announce on Wednesday that they have hired Tim Ørting Jørgensen as their new executive vice president and president, foodservice operations – international.
Jørgensen joins the team at Sysco after working with international dairy cooperative Arla for the past 30 years. He most recently served as Arla's executive vice president, international.
In his new position at Sysco, Jørgensen will be leading the company's operations in Canada, Europe, the Bahamas and Latin America, where he will be overseeing the development and execution of key strategies for growth in these geographics...
Sysco Announces Launch of New Menu Concepts
Sysco Corporation announced the nationwide launch of ten exciting menu concepts exclusively for Sysco customers through the company’s Cutting Edge Solutions platform. These chef-tested and innovative products are being launched to help foodservice operators with on-trend dining options as they enter a new normal phase of restaurant dining amidst the global pandemic.
Designed to help Sysco’s customers stay ahead of their competition, Cutting Edge Solutions products are sourced from best-in-class suppliers at the forefront of innovation. Each offering meets important dining trends such as...
Sysco Introduces ‘Foodie Solutions’ to Help Customers Approach Foodservice During COVID-19 Pandemic
As foodservice operators continue to navigate the coronavirus pandemic and states begin to lift restrictions like indoor dining, Sysco has launched Foodie Solutions, a platform created to support foodservice operates during this time.
Through perspective from supporting restaurants and operators across the U.S. Sysco identified essential tools to help customers respond quickly to the changing environment and new trends that have developed during COVID-19 shutdowns.
“Foodie Solutions’ comprehensive suite of toolkits is designed to help operators drive traffic..."
Sysco Sees Sales Drop in Fourth Quarter, Fiscal Year 2020 as COVID-19 Pandemic Impacts Foodservice
Sysco reported its fourth quarter and fiscal year 2020 financial results on Tuesday.
The company’s U.S. foodservice operations saw a 42.8% decrease in Q4 sales compared to the same period last year, totaling $6.1 billion.
Sysco also noted its gross profit decreased by 45.7% to $1.2 billion, and gross margin decreased 102 basis points to 19.1%, compared to the same period last year.
For its international foodservice business, Sysco noted a 53.4% drop in sales, totaling $1.4 billion for Q4 2020...
Sysco Launches New Interactive Virtual ‘Restaurant Readiness Tool’ for Operators
Today, Sysco announced the launch of its Restaurant Readiness Tool, a first-of-its kind simulation that intuitively provides a comprehensive view of best practices, key considerations and essential supplies for operators re-opening their restaurants as COVID-19 stay-at-home orders continue to ease.
The Restaurant Readiness Tool enables operators to tour a virtual restaurant where they experience an immersive, 360-degree view of the establishment. Users can navigate through the restaurant, clicking various icons for each area and foodservice role to learn about best practices for ensuring the health and safety of both guests and employees...
Marie Robinson Joins Sysco as Chief Supply Chain Officer
Sysco Corporation announced that Marie Robinson has joined the company as executive vice president and chief supply chain officer. She is Sysco’s senior supply chain leader with responsibility for leading the company’s supply chain transformation aimed at accelerating profitable growth through more tailored supply chain solutions.
“I am thrilled to have a leader of Marie’s caliber join our team,” said Kevin Hourican, Sysco’s president and chief executive officer. “She brings substantial experience leading international supply chain organizations, network transformation initiatives, distribution centers, and...
Sysco Reports Third Quarter Fiscal 2020 Results
Sysco Corporation announced financial results for its 13-week third fiscal quarter ended March 28, 2020.
Third Quarter Fiscal 2020 Highlights
Sysco Launches Campaign to Connect Foodservice Operators to Its Fresh Products
Sysco Corporation announced that it has launched a new “Sysco Knows Fresh” multi-channel campaign designed to promote both the company’s high quality, fresh product offering and its widespread availability to customers, consumers and the industry.
“Sysco continues to lead our industry in providing an expansive fresh product assortment – including fresh meats and seafood, produce, dairy and refrigerated specialty items. Especially during these challenging times, we want our customers to know they can count on Sysco to help them succeed with...
Sysco Gives Update on Covid-19 Related Business; Donating 2.5 Million Meals Over Next 4 Weeks
Global foodservice distribution company Sysco has released an update on their finances related to the coronavirus (Covid-19) pandemic. According to the company, their “strong balance sheet provides meaningful financial flexibility for the company to navigate current challenges in the ‘food-away-from-home’ market resulting from the spread of Covid-19 and subsequent actions taken across the country to increase social distancing.”
Sysco reports that they have approximately $2 billion cash on hand as of March 20, including a recent...
Sysco Announces Leadership Promotions
Sysco Corporation announced two senior leadership promotions. Eve McFadden has been promoted to senior vice president of legal, general counsel and corporate secretary, after being promoted to vice president and general counsel in 2019. Since joining Sysco in 2008, Eve has provided effective leadership in the areas of employment law, antitrust compliance, and ethics and compliance. In addition, her skills in building strong partnerships within the business has contributed to the company’s success.
In her new role, Eve will continue to act as general counsel, adding responsibility for Sysco’s Enterprise Risk Management function, under which she recently established a new team focused on developing a global framework for Sysco’s environment, health and...
Sysco Announces Exclusive New Product Offerings from Cutting Edge Solutions
Sysco Corporation announced today the launch of eleven new and exciting menu concepts. These innovative products are available exclusively for Sysco customers nationwide through the company’s Cutting Edge Solutions platform.
Designed to help Sysco’s customers stay ahead of their competition, Cutting Edge Solutions products are sourced from best-in-class suppliers at the forefront of innovation. From better-for-you ingredients to labor-saving products, Cutting Edge Solutions products help operators easily update their menus and delight patrons with chef-tested, on-trend and innovative solutions. These versatile products also represent...
Sysco Announces Sustainability Bond Framework to Advance 2025 Goals
Sysco Corporation announced today it has designed a Sustainability Bond Framework (the Framework) under which it may issue Green, Social and/or Sustainability Bonds to advance the company’s 2025 corporate social responsibility (CSR) goals.
Sysco’s CSR strategy focuses on three key areas: people, products and planet, setting a clear path for the future and demonstrating the company’s continued commitment to caring for people, sourcing products responsibly and protecting the planet. The company’s 2025 CSR goals, announced in 2018, include a comprehensive set of objectives, including...
Sysco Reports Second Quarter Fiscal 2020 Results
Sysco Corporation today announced financial results for its 13-week second fiscal quarter ended December 28, 2019.
Second Quarter Fiscal 2020 Highlights
First Half Fiscal 2020 Highlights
Sysco’s FreshPoint Central Florida Expands Facility
Sysco Corporation today announced that it will host a grand opening ceremony and open house for government officials, customers, associates and other members of the community at its FreshPoint Central Florida facility on Jan. 22, 2020 from 11:00am to 2:00pm EST. FreshPoint, Sysco’s specialty produce company, is North America’s leading produce distributor.
The event will celebrate the completion of the expanded, state-of-the-art 150,000 square foot facility, which has doubled in size and features environmentally-friendly specifications, and include a ribbon cutting, facility tour, food demonstrations, tastings and more. The FreshPoint Central Florida facility address is 8801 Exchange Drive in Orlando, FL.
As a result of the expansion, the facility features...
Sysco Announces U.S. Launch of Sysco Simply Plant-Based Burger Patty
Sysco Corporation, the leading global foodservice distribution company, announced the launch of its Sysco Simply Plant-Based Meatless Burger Patty, a Sysco brand exclusive product. This innovative burger is now available to the company’s customers in the majority of its U.S. markets.
This plant-based burger is the latest offering from Sysco Simply, the company’s lifestyle brand designed to help foodservice operators meet growing consumer demand for flexible and customized menu choices. The Sysco Simply burger is a vegan, gluten-free, non-GMO soy patty with 18 grams of plant-based protein per serving, helping foodservice operators...
Sysco Announces Senior Leadership Changes to Accelerate Next Phase of Development
Sysco Corporation announced today that Tom Bené will be stepping down from his roles as president and chief executive officer effective January 31, 2020. Tom will stay on with Sysco as an executive advisor until March 1, 2020, to be available to assist with a smooth and orderly transition of leadership for the Company. The board of directors has unanimously elected Kevin Hourican as the Company’s new president and chief executive officer, starting on February 1, 2020. Kevin most recently served as executive vice president of CVS Health and president of CVS Pharmacy and is a proven business leader with...
Top Meat, Poultry, Egg and Seafood Price Action Broken Down in the Latest Market Briefing
Current Restaurant Restrictions and Capacity By State
Billions in Consumer Spending Are Shifting as COVID-19 Forces Widespread Retail Disruption
The NPD Group Reveals Consumers' Top Plant-Based Product Choices
Americans Flock to Chicken, the Nation’s #1 Quarantine Protein
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