|Bid||61.29 x 800|
|Ask||61.31 x 800|
|Day's Range||60.81 - 61.99|
|52 Week Range||26.00 - 85.98|
|Beta (5Y Monthly)||1.21|
|PE Ratio (TTM)||146.00|
|Earnings Date||Nov. 02, 2020 - Nov. 06, 2020|
|Forward Dividend & Yield||1.80 (2.91%)|
|Ex-Dividend Date||Oct. 01, 2020|
|1y Target Est||66.50|
HOUSTON, Sept. 28, 2020 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE: SYY), the leading global foodservice distribution company, announced today the nationwide launch of ten exciting menu concepts exclusively for Sysco customers through the company’s Cutting Edge Solutions platform. These chef-tested and innovative products are being launched to help foodservice operators with on-trend dining options as they enter a new normal phase of restaurant dining amidst the global pandemic. Designed to help Sysco’s customers stay ahead of their competition, Cutting Edge Solutions products are sourced from best-in-class suppliers at the forefront of innovation. Each offering meets important dining trends such as comfort foods, outdoor and patio dining, takeout-friendly, better-for-you ingredients as well as versatility and labor-saving solutions. Cutting Edge Solutions products help operators easily update their menus while also enabling streamlined back-of-house operations.“Our Cutting Edge Solutions platform helps our customers succeed in today’s rapidly evolving foodservice environment where people are dining in new and different ways,” said Brian Todd, Sysco’s senior vice president of merchandising and marketing. “By understanding changing consumer behaviors, we can connect foodservice operators with the products and solutions needed to meet these changes successfully. Cutting Edge Solutions are even more critical during these challenging times, to help operators continue to evolve their business, drive increased dining traffic and launch new revenue streams.”COMFORT FOODS & OUTDOOR DINING As COVID-19 has disrupted the way we work, socialize and enjoy leisure activities, people are craving familiarity and comfort in all they do – including how they eat. Comfort foods are king when it comes to enticing diners and are also easy to add to a new or revamped patio menu. A comfortable outdoor dining environment goes hand-in-hand with an updated patio menu, and Sysco offers equipment to provide the comfort of indoors with the outdoor ambience diners want, including heaters, wind breaks and fire pits.ARREZZIO IMPERIAL LUXE RAVIOLI With on-trend and upscale flavor profiles that include goat cheese & lemon, braised beef and burrata cheese, this lighter, thinner, more delicate version of ravioli cooks in minutes and helps deliver a unique meal experience.SYSCO IMPERIAL PIMENTO CHEESE BITES These crave-worthy bites meet the consumer demand for cheese-based appetizers, add a popular flavor profile to entrées or make a unique pairing with craft beer or your favorite cocktail.SYSCO IMPERIAL DESSERT MASHUPS Fun, creamy and delicious, these thaw-and serve cheesecakes will turn dessert into an experiential occasion with mashups of some favorite flavors, including state fair-themed inspirations such as cotton candy and candy apple. These innovative desserts will create Instagram-worthy moments while satisfying patrons’ craving for a bit of sweet nostalgia.SIMPLOT® JUNIOR CUT SIDEWINDERS™ FRIES Great for a topping or for soaking up sauces and dips, these smaller-sized, fun curvy fries are coated with a special batter that provides superior flavor and longer-lasting crispy crunch.TYSON® BONELESS THIGH WINGS These thigh meat wings have the appearance and moist, tender qualities of bone-in wings yet are completely boneless. Toss them in a signature BBQ or Buffalo sauce for a crowd-pleasing entrée or appetizer.BETTER FOR YOU INGREDIENTS In this rapidly changing environment, people are also looking for balance. The Sysco Brand Cutting Edge Solutions line of products includes several better-for-you offerings for diners prioritizing their health or seeking “food-as-medicine” options to balance with their comfort food indulgences. These options include plant-based items from Sysco Simply, Sysco’s lifestyle brand designed to help foodservice operators meet growing consumer demand for flexible and customized menu choices.SYSCO SIMPLY PLANT-BASED PROTEIN Made of a superfood blend of oats (Pulled OatsTM), beans and peas, this versatile and unique, ready-to-prepare plant-based protein ingredient easily replaces meat in any dish.SYSCO SIMPLY PLANT-BASED SPROUTED GRAIN BREADS Available in oat grain and wheatberry, these whole grain breads are plant-based with no artificial ingredients and add a delicious, nutty and earthy flavor to sandwich, breakfast and brunch offerings.SYSCO SIMPLY PLANT-BASED VEGAN CORNETTOS These Italian croissants are certified vegan and make for a great addition to a breadbasket, sandwich, or served on their own with sweet or savory spreads. Try them in savory or elderberry and raspberry flavors.SYSCO CLASSIC FULLY COOKED CHICKEN SKEWERS These convenient, heat-and-serve, flame-grilled chicken skewers are available in halal breast or thigh options and piri-piri breast style. These products are also great for to-go applications and meet trending ethnic street food options.LABOR SAVINGS Convenience products are critical as operators seek to reduce costs and ensure their kitchen staff operate efficiently in a lean environment. In addition to the sous-vide sirloin steak option below, many of our place-and-bake pastries and prepared desserts provide time-saving options while delighting guests.SYSCO CLASSIC SOUS-VIDE SIRLOIN STEAK Made from USDA Choice grade beef, this sous-vide product innovation ensures a perfectly cooked steak every time, and helps operators save on labor while delivering a consistent, quality meal experience to their patrons. Sysco Classic Sous-Vide Sirloin Steak allows any foodservice operator to serve steakhouse quality steaks.At Sysco, being a partner means that we are there for our customers during all the seasons of their business, and we have never been prouder than to stand with our customers during the pandemic as they work to feed their communities. It also means that we continue to serve up innovative products and solutions that will help foodservice operators be more successful.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. Media contact: Shannon Mutschler 281-584-4059 email@example.com
Sysco (SYY) launches 10 fascinating menu concepts via its Cutting Edge Solutions platform to aid foodservice operators amid the pandemic.
(Bloomberg Opinion) -- Billionaire Daniel Kretinsky made a blatant attempt to take control over German wholesaler Metro AG without paying investors a decent premium last year. Now the shares have almost halved in value, he’s at it again.The hospitality sector accounted for 48% of Metro’s revenue in 2019, according to Bloomberg Intelligence. The pandemic has exacerbated its existing woes. Kretinsky succeeded in amassing an almost 30% stake after 2019’s 16-euros-a-share ($19-a-share) offer. Since then, he’s sat on the sidelines while a turnaround has failed to materialize for Chief Executive Officer Olaf Koch.With hindsight, shareholders must wish they’d sold to Kretinsky last year. Now, with investment parter Patrik Tkac, he intends to offer 8.48 euros per share. That’s just 2% more than Friday’s closing price. What’s more, Koch is stepping down at the end of this year, paving the way for his successor to pursue a fresh strategy that might lead to a revival. The group’s two founding shareholders, the Meridian Foundation and the Otto Beisheim Foundation, which control 23%, are unlikely to be tempted. But Kretinsky probably only wants just a handful of shareholders to sell. If that happens, the stake held by his EP Global Commerce GmbH vehicle would jump over 30% and, under German takeover law, he will then be able to buy more shares in the market without being forced to launch a fresh bid.Indeed, EP Global doesn’t appear to be aiming for 100% — it says it does not expect to hold more than 50%. This is what is known as “creeping control”. Bulking up could give Kretinsky more influence over the CEO recruitment process, and his or her strategy. The risk to Metro shareholders is that he gradually gains ownership of the company, without paying them a premium. The market is pushing back: Metro stock rose above the offer price on Monday.But shareholders will find it easier to snub this offer on the grounds it is opportunistic, rather than for any positive reason. Koch carried out a significant restructuring, selling department store chain Galeria Kaufhof, demerging electricals arm Ceconomy AG and most recently raising around 1.9 billion euros in cash from the sale of the Real hypermarket chain and control of its Chinese arm. Metro has not shrunk to greatness. Signs of recovery over recent months as restaurants and hotels reopened are encouraging, but a second wave of the virus is a significant risk.A rival offer could yet materialize. U.S. food distributor Sysco Corp. made an approach earlier this year. All the same, Metro can’t just magic up a knock-out friendly bid. Its best option is to give new management a go at building on the turnaround whose foundations may now have been laid. If the new CEO finally manages to revitalize Metro, or Kretinsky’s move flushes out another bid, then the value of his existing holding will rise. If the wholesaler continues to drift, he can to pick up more shares. Disillusioned investors may be itching to throw in the towel — but they’d be helping Kretinsky gain increasing influence on very sweet terms.(Provides final figure for disposal proceeds in sixth paragraph.)This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Andrea Felsted is a Bloomberg Opinion columnist covering the consumer and retail industries. She previously worked at the Financial Times.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.