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Sysco: Sales Growth Indicates Strong Year-End For Restaurants
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Copyright: The Wall Street Journal
February 7, 2012
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Sysco Corp. (SYY), which sells food to restaurants, says its sales volume growth toward the end of the year indicates the dining industry saw a busy holiday season. Still, the relentless rise in food prices, coupled with pressure to keep its own prices lower than competitors, prevented Sysco from seeing a bottom-line benefit from the sales boost. Sysco's fiscal second-quarter profit fell 3.1%, pushing its shares down 5.2% to $29.28 in Monday trading and...
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