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Sysco Announces their Commitment to Reduce Emissions by 2030, Leading U.S. Foodservice Distribution
Sysco Corporation, the leading global foodservice distribution company, announced today it has set an ambitious, industry-leading climate goal to reduce emissions across its global operations and the company’s entire value chain.
Sysco’s new science-based emissions reduction target aligns with the Paris Agreement and is an integral part of the company’s roadmap to reducing its carbon footprint over the next decade. The company is pursuing validation of the goal by the Science-Based Targets initiative and aims to:
- Reduce its Scope 1 and 2 emissions by...
Sysco Delivers Strong First Quarter Results; Reiterating Fiscal Year 2022 Guidance
Sysco Corporation today announced financial results for its 13-week first fiscal quarter ended October 2, 2021.
Key highlights for the first quarter of fiscal year 2022:
- Strong sales growth of 8% compared to 2019 levels, with meaningful market share gains;- October sales growth of 10% compared to 2019 levels, continuing Q1 sequential sales improvement;- Generated EBITDA comparable to pre-COVID 2019 levels;- Inflation effectively managed, despite the dynamic supply chain environment;- Gross profit per case increases across all segments;- Sysco’s Recipe for Growth strategy advances; and- International operations...
Sysco Offers New and Innovative Products For Fall 2021 Through Cutting Edge Solutions Platform
Sysco Corporation, the leading global foodservice distribution company, announced today the nationwide launch of eight innovative concepts exclusively for Sysco customers through the company’s Cutting Edge Solutions platform. These chef-tested and exclusive products provide foodservice operators with on-trend menu options such as plant-based ingredients as well as innovative to-go solutions that will help them stand out in the ever-evolving foodservice environment.
“Our Cutting Edge Solutions platform helps our customers stay on-trend and ahead of the competition with new and..."
Sysco Announces Changes to the Board of Directors
Sysco Corporation, the leading global foodservice distribution company, today announced that Nelson Peltz, chief executive officer and a founding partner, and Joshua D. Frank, partner and co-head of research, of Trian Fund Management, L.P. (“Trian”), have informed the Company that they are stepping down from the Board. Peltz and Frank indicated that the decision to step down was driven by their confidence in Sysco’s leadership, business transformation and continued operating momentum. Peltz and Frank have served on the Board since August 2015 and have made significant contributions to the Company’s business...
Sysco Delivers Robust Fourth Quarter Results and Raises FY22 Guidance Driven by Accelerating Sales
Sysco Corporation announced financial results for its 14-week fourth fiscal quarter and its fiscal year ended July 3, 2021.
Key highlights for the fourth quarter of fiscal year 2021 included:
- Sales were stronger than expected;- Share gains continue, driven by new customer wins;- Sysco’s Recipe for Growth strategy advances;- Inflation effectively managed;- Cash flow stronger than expected, even with significant inventory investments;- International operations show...
Sysco Partners with SAVRpak to Ensure Meals Stay Fresh and Crisp in Transit
Sysco Corporation announced an exclusive partnership that will deliver SAVRpak’s patented food preservation technology to independent and local chain restaurants nationwide. Through their agreement, Sysco will add SAVRpak “freshness packs” to its Cutting Edge Solutions platform, making this technology immediately available to order.
Developed by an aerospace engineer, SAVRpak is a frozen, peel-and-stick patch that removes moisture from the air of a food container, thereby keeping it away from the meal and...
Sysco Announces Agreement to Acquire Greco and Sons
Sysco Corporation announced it has entered into an agreement to acquire Greco and Sons, a leading independent Italian specialty distributor in the United States from Arbor Investments and the Greco family. Greco and Sons operates 10 distribution centers servicing 22 geographies nationwide, with approximately $800 million in annual revenue.
Founded in 1990, Greco and Sons imports and distributes a full line of premium quality food and non-food products as well as manufactures value-added specialty meat products. Upon completion of the transaction, Greco and Sons will operate as a standalone division within Sysco, similar to...
Sysco Offers Two New Foodie Solutions Toolkits as Summer Approaches
Sysco Corporation, a leading global foodservice distribution company, announced that it has launched two new online toolkits to its Foodie Solutions platform. The Labor & Hiring and Summer Solutions Toolkits are the latest in a series of carefully curated tools to help foodservice operators succeed while generating additional revenue and meeting consumer expectations.
Labor & Hiring Toolkit – As restaurants reopen amidst a tight labor market, the Labor & Hiring toolkit provides a comprehensive resource for hiring, training and retaining restaurant employees, including tips such as taking action on employee feedback and offering incentives to improve retention. This comprehensive toolkit also features...
Sysco Reports Third Quarter Fiscal 2021 Results
Sysco Corporation announced financial results for its 13-week third fiscal quarter ended March 27, 2021.
Ron Phillips Joins Sysco as Executive Vice President, Chief Human Resources Officer
Sysco Corporation announced that Ron Phillips will join the company as executive vice president and chief human resources officer, effective May 3, 2021.
“I am very pleased to welcome Ron to Sysco. He is a proven HR executive with more than 25 years of experience and a track record of leading high-performing teams and consistently delivering results and transformative change through people-first strategies,” said Kevin Hourican, Sysco’s president and chief executive officer. “His demonstrated expertise across a broad range of strategic functions, including people strategy development, diversity and...
Three New Sysco Foodie Solutions Toolkits Available for Restaurateurs
Sysco Corporation announced the addition of three new toolkits to its Foodie Solutions platform: Brunch, Protecting Your Business and Turning Your Tables. As more restaurants reopen their dining rooms, these are the latest in a series of carefully curated tools to help customers respond quickly to shifting business requirements and trends resulting from the COVID-19 pandemic.
The Brunch toolkit offers innovative ideas and recipes to help make Easter and Mother’s Day a success, including popular brunch and take-out concepts, such as Bloody Mary cocktail kits and a Mother’s Day “Berry Me in Chocolate” strawberry kit. In addition, “Sea-cuterie boards” are a unique play on the...
Sysco Announces $1.1 Billion Debt Reduction in Anticipation of Impending Market Recovery
Sysco Corporation, the leading global foodservice distribution company, announced it had reduced its outstanding debt by a total of $1.1 billion.
On March 9, the company repaid the remaining $700 million in outstanding borrowings under its long-term revolving credit facility that expires on June 28, 2024. In addition, on March 10, Sysco’s United Kingdom-based subsidiary, Brake Bros Limited, repaid £300 million of its £600 million in aggregate principal amount of notes outstanding under its commercial paper program, equating to approximately...
Sysco Launches New and Exclusive, Chef-Tested Menu Concepts Through Cutting Edge Solutions Platform
Sysco Corporation, the leading global foodservice distribution company, introduced nine innovative concepts through its Cutting Edge Solutions platform. These new and differentiated products are available exclusively from Sysco and provide foodservice operators with unique menu offerings, innovative meal solutions and environmentally friendly cleaning and beverage products.
“Now more than ever, foodservice operators must provide differentiated offerings to succeed in this challenging operating environment. Sysco’s Cutting Edge Solutions platform offers...
Foodservice and Retail Get Creative for an Unprecedented Valentine’s Day
While the pandemic has caused disruptions to gatherings and going out, there remains a special significance around Valentine’s Day. Consumers are committed to celebrating the holiday, even if traditional celebrations must be altered. According to the National Retail Federation, about 52% of adults plan to celebrate Valentine’s Day this year, spending a total of $21.8 billon.Nearly three-quarters of consumers celebrating the holiday this year feel it is important to do so given the current state of the pandemic. The virus is still a focus, with 74% indicating it will directly impact their plans for the holiday. About 24% of consumers plan to gift their loved one with an evening out, the lowest in...
Sysco Reports Second Quarter Fiscal 2021 Results
Sysco Corporation announced financial results for its 13-week second fiscal quarter ended December 26, 2020.
Second Quarter Fiscal 2021 Highlights
Sysco Releases New Foodie Solutions Toolkits
Sysco Corporation announced the addition of four new toolkits to its Foodie Solutions platform. The Valentine’s Day, Wholesome Dining, Seafood and Greatest Game toolkits are the latest in a series of carefully curated resources that reflect the best ideas from across the foodservice industry for generating additional revenue and meeting consumer expectations for a safe and memorable dining, takeout or delivery experience.
Valentine’s Day is historically one of the most popular holidays to dine out, second only to Mother’s Day. Despite the pandemic, Sysco expects it will remain...
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