Sysco increases spending on supply chain transformation
The firm revealed its expenses had...
Sysco, the US-based food marketer and distributer, has released its first quarter results for the 2019 fiscal year.
The firm revealed its expenses had risen following a rise in investment in supply chain.
During the review period, the company’s US foodservice operating expenses grew by US$70.3mn, or 5.8%, compared to the first quarter of the previous year.
In terms of Sysco’s international foodservice operations, operating expenses increased by $10.4mn, or 1.9%, year-on-year.
Internationally, the Houston-headquartered company targeted supply chain transformation and business integration.
“Our top-line results for the first quarter were solid, particularly in our U.S. Foodservice segment,” commented Tom Bené, President and Chief Executive Officer at Sysco.
“We continue to see expense challenges in the warehouse and transportation areas of our supply chain, which we anticipate will persist. We remain focused on the execution of our strategic priorities, which we believe will serve as the roadmap for additional growth and value creation.”