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MarketScreener Homepage  >  Equities  >  Nyse  >  Sysco Corporation    SYY

SYSCO CORPORATION

(SYY)
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Sysco : Launches Foodie Solutions™ to Equip Customers With Innovative Tools to Navigate Pandemic

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09/10/2020 | 04:31pm EDT

HOUSTON, Sept. 10, 2020 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE: SYY) today announced the launch of Foodie Solutions, an innovative platform created to support foodservice operators in today’s rapidly changing business climate. 

With its broad-based perspective from supporting restaurants and other foodservice operators across the country, Sysco identified the most essential tools to help customers respond quickly to shifting business requirements and trends resulting from the COVID-19 pandemic. Foodie Solutions’ comprehensive suite of toolkits is designed to help operators drive traffic, generate revenue and grow their business as they navigate the current environment.

Foodie Solutions features carefully curated toolkits focused on safely implementing vital strategies for meeting increased demand for delivery and alternative dining options. These toolkits include:

  • Virtual Kitchens – Recommendations for serving customers solely through online and phone orders without a brick and mortar concept or dining room;
  • Grab & Go Foods - A guide to offering pre-made meals and signature dishes;
  • Family Style Meal Kits – Solutions to help customers save time and enjoy an at home experience; and
  • Patio Dining – Strategies to revamp customers’ outdoor dining experiences.  

By deploying these tools within their existing operations, restaurateurs can chart new, innovative courses to drive traffic and optimize profitability. Foodie Solutions also supports customers beyond the day-to-day needs of running the business, providing resources focused on long-term operational strategies with scalable tools that help operators succeed in the “new normal.”

“Throughout the COVID-19 pandemic, we’ve stood by foodservice operators across the country as they wrestled with unprecedented challenges to their businesses. With our unique perspective as a nationwide supplier to the industry, we’ve identified and already begun to implement proven strategies restauranteurs can use to meet their rapidly changing needs,” said Greg Keller, senior vice president of sales and chief customer officer. “Today, we are proud to launch Foodie Solutions, which provides resources designed to assist customers ‘where they are’ – no matter which stage of reopening they are in. Our customers can count on us to provide solutions to propel innovation and longevity through this current crisis and into the future.”

Additional Foodie Solutions toolkit contents include:

  • Tailgating – Everything restaurants need to market and capitalize on game day events;
  • Raising the Bar – Simple and profitable foodservice solutions for bar operators;
  • Back to School – Suggestions for prepackaged and ready-to-go meals with kid (and parent) approved recipes;
  • Kitchen to Kitchen – Meal prep kits designed to provide customers curated culinary experiences in the comfort of their home; and
  • Curbside and Takeout - How to maximize takeout and delivery, whether in-house or through a third-party delivery partner.

Sysco customers also receive exclusive value-added services through Sysco’s iCARE partner program and Sysco Marketing Concierge, which allow customers to easily navigate our available resources and gain access to customer and sales webinars. More information about Foodie Solutions can be found on the Sysco Foodie website.

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 57,000 associates, the company operates 326 distribution facilities worldwide and serves more than 625,000 customer locations. For fiscal 2020 that ended June 27, 2020, the company generated sales of more than $52 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 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 SEC. 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 


Sysco_Logo-At_the_heart-Color v2.png

Source: Sysco Corporation

2020 GlobeNewswire, Inc., source Press Releases


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Financials (USD)
Sales 2021 51 412 M - -
Net income 2021 683 M - -
Net Debt 2021 8 359 M - -
P/E ratio 2021 43,4x
Yield 2021 2,79%
Capitalization 32 480 M 32 480 M -
EV / Sales 2021 0,79x
EV / Sales 2022 0,70x
Nbr of Employees 57 000
Free-Float 66,3%
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Technical analysis trends SYSCO CORPORATION
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 14
Average target price 66,50 $
Last Close Price 63,80 $
Spread / Highest target 20,7%
Spread / Average Target 4,23%
Spread / Lowest Target -13,8%
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Managers
NameTitle
Kevin Hourican President, Chief Executive Officer & Director
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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