Welcome to our dedicated page for Sysco news (Ticker: SYY), a resource for investors and traders seeking the latest updates and insights on Sysco stock.
Sysco Corporation reports news as a global foodservice distributor that sells, markets and distributes food and related products to customers that prepare meals away from home. Its updates center on restaurants, healthcare and educational facilities, lodging establishments, entertainment venues and other food-away-from-home markets, with product categories that include fresh produce, premium proteins, specialty products, sustainably focused items, equipment and supplies, and culinary solutions.
Recurring company developments include operating and financial results, dividend declarations, capital-allocation actions, material agreements, governance matters and customer-facing culinary programs such as regional chef competitions. News also reflects Sysco’s supply-chain role and specialty offerings for foodservice operators across its domestic and international distribution network.
Sysco Corporation (NYSE: SYY) has been recognized as one of America’s Most JUST Companies, leading the food and drug retailer sector for the first time. The ranking is based on an evaluation by JUST Capital and CNBC, focusing on key issues such as job creation, fair wages, and sustainability. Sysco's commitment to Corporate Social Responsibility is highlighted, with praise from Senior Vice President Neil Russell for the company's progress in caring for people and communities. In fiscal 2021, Sysco generated over $51 billion in sales and serves over 650,000 customer locations globally.
Sysco Corporation (NYSE:SYY) announced plans to webcast its presentation at the ICR Conference 2022 on January 10, 2022, at 1:00 p.m. ET. The live event can be accessed through investors.sysco.com, with an archived replay available post-event. Sysco emphasizes its investor relations website as the primary channel for disclosing key information, including corporate social responsibility updates from its recent report.
Sysco Corporation (NYSE: SYY) announced the appointment of three new directors to its board effective January 1, 2022, expanding the board to 13 members. The new members—Ali Dibadj, Jill M. Golder, and Alison Kenney Paul—bring diverse expertise from various industries. These appointments align with Sysco's strategy to enhance leadership and perspectives as it focuses on its Recipe for Growth strategy. The new directors will stand for reelection at the Annual Meeting on November 18, 2022.
Sysco Corporation (SYY) has relaunched its Foodie magazine to enhance the experience for foodservice operators. The redesign features engaging content on digital solutions in partnership with Google, culinary trends, recipes from Executive Chef Neil Doherty, and a customer spotlight on Montana Ale Works. The magazine aims to provide foodservice operators with valuable insights and resources to drive consumer traffic and menu innovation. Sysco continues to emphasize its commitment to supporting customers through innovative solutions and community involvement.
Sysco Corporation (NYSE: SYY) announced plans to acquire The Coastal Companies, a fresh produce distributor generating $600 million in revenue. The acquisition aims to enhance Sysco's FreshPoint business in the Mid-Atlantic, providing added manufacturing capabilities and diversifying its produce specialty portfolio. The Coastal Companies comprises three businesses: foodservice distribution, retail distribution, and value-added manufacturing. The deal is pending regulatory approval, and specific financial terms remain undisclosed.
Sysco Corporation (NYSE: SYY) has set industry-leading climate goals aimed at significantly reducing its carbon emissions. The company will electrify 35% of its U.S. tractor fleet by 2030, which is about 2,500 electric trucks, and ensure global operations are powered by 100% renewable energy by the same year. Sysco aims to cut Scope 1 and 2 emissions by 27.5% and work with suppliers to establish science-based targets covering 67% of its Scope 3 emissions by 2026. This initiative aligns with the Paris Agreement and is part of Sysco's broader sustainability commitments.
Sysco Corporation (NYSE:SYY) declared a quarterly cash dividend of $0.47 per share, payable on January 28, 2022. The record date for common stockholders is set for January 7, 2022. Sysco is a leading global distributor of food products to various sectors, including restaurants and healthcare facilities. For the fiscal year ending July 3, 2021, Sysco reported over $51 billion in sales.
Sysco Corporation (SYY) reported strong financial results for the first fiscal quarter ended October 2, 2021. Total sales reached $16.5 billion, marking a 39.7% increase year-over-year. The company's gross profit rose 33.9% to $3.0 billion, with gross margin at 18.1%. Operating income increased 50.6% to $631.7 million, while earnings per share rose to $0.73 from $0.42 in the previous year. Significant market share gains were achieved, despite challenges in the supply chain. The company emphasized its commitment to advancing its Recipe for Growth strategy.
On November 9, 2021, at 10 a.m. Eastern, Sysco Corporation (NYSE:SYY) will hold a conference call and webcast to discuss its Q1 fiscal year 2022 financial results. Interested parties can listen online at investors.sysco.com. Prior to the call, a news release and slide presentation will be available on the company's investor relations page. Sysco is a leader in food product distribution, serving over 650,000 customers globally, with reported sales exceeding $51 billion for fiscal 2021.
Sysco Corporation (NYSE: SYY) has launched eight innovative foodservice concepts through its Cutting Edge Solutions platform. These chef-tested products aim to keep operators competitive by offering on-trend menu options, including plant-based ingredients and labor-saving solutions.
The Fall 2021 offerings include tamper-evident fry containers, moisture-removing SAVRpak, sous-vide sirloin steak, various comfort desserts, and gluten-free cauliflower tortillas. Additionally, the company emphasizes sustainability with 100% recycled hot cups, enhancing its commitment to environmentally friendly practices.