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Sysco Sales Down In 2Q

Sysco Corp., Houston, TX, reported sales of $9.1 billion for its second quarter ended Dec. 27, 2008, a decrease of 1% from the prior year. Profit was $237.7 million, down 10%.
For the first half of fiscal year 2009, sales increased 2% to $19 billion. Profit declined 3.1% to $514.5 million.
"The business environment remains difficult in the short term, as demonstrated by our decline in sales last quarter," CEO Richard J. Schnieders said. "However, we remain focused on execution and operational excellence, which we believe will strengthen our position within the industry over the long term."
Food cost inflation, as estimated by the change in Sysco's cost of goods, was 7% for the quarter.
Sysco sells, markets and distributes food products to restaurants, healthcare and educational facilities, lodging establishments and other customers who prepare meals away from home. It operates 180 distribution facilities serving more than 400,000 customers.

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