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Foodservice distributor Sysco Corp. (NYSE:SYY), Houston, TX, reported sales for the fiscal third quarter ended March 29 of $11.3 billion, up 3.2 percent year-over-year. Profit declined 10.2 percent to $181 million.
"Third quarter sales growth was modest due to the impact of severe weather and lower levels of inflation compared to the prior year," said Bill DeLaney, president and CEO. "However, March sales and gross profit year-over-year trends were significantly stronger compared to January and February as demand rebounded with improved weather and locally-managed sales strengthened."
For the first nine months of the fiscal year, sales were $34.2 billion, up 4.3 percent over the prior-year period. Profit was $677 million, down 4.5 percent.