Sysco Stock Price, News & Analysis

Sysco Corporation (NYSE: SYY) is testing an all-electric Freightliner eCascadia truck as part of its Corporate Social Responsibility (CSR) strategy aimed at reducing its carbon footprint. The deployment of the eCascadia from Daimler Trucks North America supports Sysco's goal to increase alternative fuel usage in its fleet. Testing will occur at the San Francisco site until January 2021, providing essential feedback for future electric vehicle designs. Sysco actively collaborates in the Freightliner Electric Vehicle Council, addressing barriers to the large-scale implementation of electric vehicles.

Sysco Corporation (NYSE:SYY) announced the appointment of Tim Ørting as the executive vice president & president of foodservice operations – international, effective January 4, 2021. In this newly-created position, Ørting will oversee Sysco’s international operations in Canada, Europe, The Bahamas, and Latin America, focusing on growth strategies. Ørting brings 30 years of experience from Arla, where he led international operations across multiple markets. Sysco generated over $52 billion in sales for fiscal 2020, operating globally with 326 distribution facilities.

Sysco Corporation (NYSE: SYY) has launched ten new menu concepts through its Cutting Edge Solutions platform, aimed at assisting foodservice operators in adapting to changes in dining trends caused by the COVID-19 pandemic. These products focus on comfort foods, outdoor dining, and better-for-you ingredients, catering to evolving consumer preferences. Sysco aims to enhance operational efficiency through labor-saving solutions and innovative items, such as plant-based proteins and unique appetizers. The initiative is designed to help clients improve their menus and drive revenue growth during challenging times.

Sysco Corporation (NYSE: SYY) has launched ten new menu concepts via its Cutting Edge Solutions platform to support foodservice operators during the pandemic. These chef-tested products cater to current dining trends like comfort foods, outdoor dining, and healthier options, enabling operators to adapt their menus effectively. Sysco's innovations include items such as plant-based proteins and unique appetizers aimed at enhancing customer experiences and improving operational efficiency. For the fiscal year 2020, Sysco reported over $52 billion in sales, underlining its robust market position.

Sysco Corporation (NYSE: SYY) has launched Foodie Solutions, a new platform aimed at helping foodservice operators adapt to rapid changes brought on by the COVID-19 pandemic. This comprehensive toolkit provides essential resources for driving traffic, generating revenue, and optimizing operations. Key features include Virtual Kitchens, Grab & Go Foods, Family Style Meal Kits, and Patio Dining. Sysco aims to support its customers through innovative strategies, ensuring they can thrive in the evolving foodservice landscape.

On August 21, 2020, Sysco Corporation (NYSE: SYY) declared a quarterly cash dividend of $0.45 per share, payable on October 23, 2020, to stockholders of record by the end of business on October 2, 2020. In fiscal 2020, Sysco reported sales exceeding $52 billion, reflecting its position as a leader in food product distribution for various establishments including restaurants and healthcare facilities. The announcement signifies continued shareholder returns amidst its extensive global operations.

Mad Mobile, Inc. has announced its plan to acquire CAKE, a restaurant technology company owned by Sysco Corporation (NYSE: SYY). The acquisition, aimed to expedite Mad Mobile’s vision of a mobile-first POS solution, is set to close by September 30, 2020. CAKE currently serves over 5,000 restaurant locations and will benefit from Mad Mobile's platform integration which will enhance offerings such as Mobile Ordering and Contactless Payment. Sysco's Chief Information and Technology Officer highlighted this transaction as a chance to focus on digital transformation.

Sysco has launched its innovative Restaurant Readiness Tool, designed to assist restaurant operators in re-opening as COVID-19 restrictions ease. This tool offers a virtual tour of a restaurant, showcasing best practices for health and safety through interactive icons, videos, and product recommendations. The shopping experience integrates with Sysco's platform, Sysco SHOP. Additional resources include checklists and guidance for optimizing menus and implementing contactless service strategies. Sysco aims to support the restaurant industry during these challenging times.

Sysco Corporation (NYSE: SYY) will webcast live from the Jefferies Virtual Consumer Conference on June 24, 2020, at 8:30 a.m. ET. Investors can access the live event through investors.sysco.com, where an archived replay will be available shortly after. Sysco, a global leader in food product distribution, generated over $60 billion in sales for fiscal 2019. The company utilizes its website to disclose key information to investors, ensuring transparency and accessibility for material insights.