Sysco continues trucking on efforts to extract costs and fuel its competitive advantage.
Amid an environment of tepid restaurant traffic, we think Sysco posted solid results. Excluding the extra week in the quarter, the firm chalked up 2% underlying sales growth, 40 basis points of adjusted gross margin expansion to 18.3%, and a 16-basis-point bump in adjusted operating margins to 4.3%.A portion of the margin improvement resulted from efforts to extract costs, as it targets a $500 million lift in operating income by fiscal 2018. And we contend Sysco’s recent initiatives still have ...
Sysco, acting through its subsidiaries and divisions, is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The company has three reportable segments: United States Foodservice Operations, which primarily include United States Broadline operations, which distribute a line of food products, including custom-cut meat, seafood, specialty produce, specialty imports and a variety of non-food products; International Foodservice Operations, which include operations in the Americas and Europe, which distribute a line of food products and a variety of non-food products; and SYGMA, which consists of its United States customized distribution subsidiary.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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