Sysco Corp. (NYSE: SYY), Houston, TX, reported sales for the third quarter ended March 30, 2013, of $10.9 billion, an increase of 4 percent compared to the same period a year earlier. Profit fell 22.4 percent to $201.4 million.
Food cost inflation was 2.4 percent during the quarter, as measured by the estimated change in Sysco's product costs, driven mainly by inflation in the produce and poultry categories.
Food cost inflation year-to-date was 2.3 percent, driven mainly by inflation in the poultry and meat categories. Sales for the first three quarters were $32.8 billion, an increase of 4.7 percent compared to the same period last year. Profit was $709 million, a decrease of 12.7 percent.
