Sysco Corp. (NYSE: SYY), Houston, TX, reported sales for the first quarter ended Oct. 1, 2011, were $10.6 billion, up 8.6 percent over the same period a year ago. Profit increased 1.2 percent to $302.7 million.
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Food cost inflation, as measured by the estimated change in Sysco’s product costs, was 7.3 percent. This compares to inflation of 3.3 percent in the prior year period, and 5.9 percent in the fourth quarter of fiscal 2011. In addition, sales from acquisitions (within the last 12 months) increased sales by 0.7 percent, and the impact of changes in foreign exchange rates for the first quarter increased sales by 0.7 percent.
Sysco distributes food products to restaurants, healthcare and educational facilities, lodging establishments and other customers who prepare meals away from home.
