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MarketScreener Homepage  >  Equities  >  Nyse  >  Sysco Corporation    SYY

SYSCO CORPORATION

(SYY)
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SYSCO AND THE KROGER CO. JOIN FORCES TO MEET CRITICAL FOOD SUPPLY NEEDS AND KEEP ASSOCIATES WORKING

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03/27/2020 | 03:16pm EDT

HOUSTON, March 27, 2020 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE:SYY) today announced that it has entered into an agreement with The Kroger Co. (NYSE: KR) to provide temporary work opportunities for Sysco associates at certain Kroger distribution centers.

Under this agreement, Sysco associates in the United States who have been temporarily furloughed due to the dramatic decline in foodservice demand from the impact of the COVID-19 pandemic, will have the opportunity to work at Kroger locations for 30 days, or more, as agreed upon by both companies.

“During these unprecedented times, we are pleased to partner with Kroger, as both of our companies work to respond in an agile manner to meet the rapidly evolving needs of our associates and our communities,” said Kevin Hourican, president and chief executive officer of Sysco. “This agreement will benefit many of Sysco’s associates by creating good work opportunities with a respected company, while at the same time helping to alleviate strain in the food supply chain due to a surge in demand at retail stores.”

Associates who take advantage of this opportunity will remain employees of Sysco during the period of time they work at Kroger, with Sysco being responsible for providing the agreed upon compensation, as well as any other benefits associates typically receive.

About Sysco
Sysco is the global leader in selling, marketing and distributing food products to restaurants, healthcare and educational facilities, lodging establishments and other customers who prepare meals away from home. Its family of products also includes equipment and supplies for the foodservice and hospitality industries. With more than 69,000 associates, the company operates more than 320 distribution facilities worldwide and serves more than 650,000 customer locations. For fiscal 2019 that ended June 29, 2019, the company generated sales of more than $60 billion. Information about our CSR program, including Sysco’s 2019 Corporate Social Responsibility Report, can be found at www.sysco.com/csr2019report.

For more information, visit www.sysco.com or connect with Sysco on Facebook at www.facebook.com/SyscoCorporation or Twitter at https://twitter.com/Sysco. For important news and information regarding Sysco, visit the Investor Relations section of the company's Internet home page at http://investors.sysco.com/, which Sysco plans to use as a primary channel for publishing key information to its investors, some of which may contain material and previously non-public information. Investors should also follow us at www.twitter.com/SyscoStock and download the Sysco IR App, available on the iTunes App Store and the Google Play Market. In addition, investors should continue to review our news releases and filings with the Securities and Exchange Commission. It is possible that the information we disclose through any of these channels of distribution could be deemed to be material information.

For more information contact:

Shannon Mutschler
Media Contact
Mutschler.Shannon@corp.sysco.com
T 281-584-4059

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© GlobeNewswire 2020
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Financials (USD)
Sales 2020 53 372 M
EBIT 2020 1 682 M
Net income 2020 742 M
Debt 2020 7 912 M
Yield 2020 3,31%
P/E ratio 2020 39,5x
P/E ratio 2021 20,8x
EV / Sales2020 0,64x
EV / Sales2021 0,68x
Capitalization 26 269 M
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Technical analysis trends SYSCO CORPORATION
Short TermMid-TermLong Term
TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 13
Average target price 53,30 $
Last Close Price 51,75 $
Spread / Highest target 25,6%
Spread / Average Target 3,00%
Spread / Lowest Target -13,0%
EPS Revisions
Managers
NameTitle
Kevin Hourican President & Chief Executive Officer
Edward D. Shirley Executive Chairman
Joel Todd Grade Chief Financial Officer & Executive Vice President
Mickey Foster Chief Information & Technology Officer
John M. Cassaday Independent Outside Director
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