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MarketScreener Homepage  >  Equities  >  Nyse  >  Aramark    ARMK

ARAMARK

(ARMK)
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Aramark : Opens More Than 100 Pop-Up Grocery Stores for Frontline Healthcare Workers

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05/28/2020 | 05:06pm EDT

PHILADELPHIA (May 28, 2020) - As the fight against COVID-19 continues, Aramark (NYSE: ARMK), the largest U.S.-based food service company, is continuing to assist and support frontline workers by opening on-site 'pop-up' grocery stores at healthcare facilities across the country, to serve as a one-stop shop for doctors, nurses and hospital staff to grab necessities on their way home. To date, Aramark has opened more than 100 pop-up stores.

The Company is transforming existing retail spaces into grocery stores offering a variety of fresh baked goods, bread, milk, eggs, non-perishable items, paper towels, health & beauty aids and more.

These 'mini-marts' stock basic and hard-to-get items that Aramark is able to source through its vast distributor network. By offering a place to shop within their workplace environment, employees are saved from that extra stop before heading home to their loved ones.

'We are thankful for the dedicated frontline healthcare providers, who day-in and day-out treat and care for patients during this pandemic,' said Jeff Gilliam, President of Aramark's Healthcare division. 'Creating these pop-up grocery stores is our way of providing a small convenience for them to procure essential items they need.'

Aramark is reconfiguring its traditional service model with innovative solutions, new service methods, and safety protocols including the following adjustments to maximize safety and social distancing:

  • Implementing take-home meals (with easy assembly)
  • Offering pre-packaged items (grab & go meals and snacks)
  • Re-imagining hot bars, salad bars and micromarkets
  • Offering produce market box programs

During this time of great need, Aramark is working harder than ever to provide food and resources to employees and communities feeling the impact:

  • Aramark partnered with the Debra and Leon Black Family, the Mayor's Fund to Advance New York City, Robin Hood and the American Red Cross to launch 'NYC Healthcare Heroes Fund ' and provide up to 500,000 packages of food, household and personal care products to NYC hospital staff on the front lines combatting the COVID-19 pandemic, alleviating the burden of having to shop for themselves and their families.
  • Since the beginning of the coronavirus pandemic, Aramark has safely provided 36 million free meals to students, in nearly 300 school districts across the country, and continues to serve one million meals to school children daily.
  • In keeping with its 84-year history of answering the call for assistance in times of need, Aramark redeployed its Uniform Services division production lines in order to manufacture essential personal protective equipment (PPE) for the heroes working in hospitals and in other critical roles across the United States, and expects to produce millions of masks, scrubs and isolation gowns.
  • In the communities Aramark serves, employees have banded together at hospitals, schools and other facilities, providing safe and hygienic meals, uniforms, refreshments and facility services. To date, Aramark has donated over 175,000 pounds of food and PPE to local organizations.
  • Aramark has mobilized its emergency relief and large scale event expertise to aid temporary field hospital operations in various cities.

For more information on Aramark's response during the COVID-19 pandemic, please click here.

About Aramark
Aramark (NYSE: ARMK) proudly serves the world's leading educational institutions, Fortune 500 companies, world champion sports teams, prominent healthcare providers, iconic destinations and cultural attractions, and numerous municipalities in 19 countries around the world. Our 280,000 team members deliver innovative experiences and services in food, facilities management and uniforms to millions of people every day. We strive to create a better world by making a positive impact on people and the planet, including commitments to engage our employees; empower healthy consumers; build local communities; source ethically, inclusively and responsibly; operate efficiently and reduce waste. Aramark is recognized as a Best Place to Work by the Human Rights Campaign (LGBTQ+), DiversityInc, Equal Employment Publications and the Disability Equality Index. Learn more at www.aramark.com or connect with us on Facebook and Twitter.

Disclaimer

Aramark published this content on 28 May 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 May 2020 21:05:06 UTC

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Financials (USD)
Sales 2020 13 456 M - -
Net income 2020 -162 M - -
Net Debt 2020 6 586 M - -
P/E ratio 2020 -38,2x
Yield 2020 1,72%
Capitalization 6 540 M 6 540 M -
EV / Sales 2019
EV / Sales 2020 0,98x
Nbr of Employees 233 400
Free-Float 86,0%
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Technical analysis trends ARAMARK
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 29,21 $
Last Close Price 25,89 $
Spread / Highest target 62,2%
Spread / Average Target 12,8%
Spread / Lowest Target -22,8%
EPS Revisions
Managers
NameTitle
John J. Zillmer Chief Executive Officer & Director
Stephen I. Sadove Non-Executive Chairman
Carl Mittleman Chief Operating Officer-International
Thomas G. Ondrof Chief Financial Officer & Executive Vice President
Daniel J. Heinrich Independent Director
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