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April 28, 2008

SYSCO Sales Up 6.7% in 3Q

SYSCO Corp., Houston, TX, reported sales for the third quarter fiscal 2008 were up 6.7% to $9.15 billion, from last year's third quarter.
 
Profit was up 9% to $240.9 million. Food cost inflation, as estimated by the change in SYSCO's cost of goods, was 6.2% for the quarter.
 
Year-to-date, sales increased 7.7% to $27.79 billion from the same period last year, and profit was up 10.7% to $772 million. Food cost inflation, as estimated by the change in SYSCO's cost of goods, was 6.0% year-to-date in fiscal 2008.
 
"In a challenging business environment where restaurant sales growth appears to have been flat to down, we continued to grow and we leveraged that growth to our bottom line, particularly in the Broadline segment," said Richard J. Schnieders, SYSCO's CEO.
 
Foodservice distributor SYSCO had $35 billion in sales in fiscal year 2007.

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