Company: SYY
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000096021-25-000037
Chunk: 68

Company: SYSCO CORP
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 1
Chunk 68
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 divestiture will facilitate our efforts to improve our return on invested capital position. 

Mergers and Acquisitions  

In the second quarter of fiscal 2025, we acquired Campbells Prime Meat, a leading specialty meat business based in Scotland. By combining the Campbells Prime Meat product offering with our broadline business, this acquisition provides a strategic opportunity to enable total team selling in this region. This company’s results are included within International Foodservice Operations and were not material to our results for the third quarter and first 39 weeks of fiscal 2025.

Strategy

Our purpose is “Connecting the World to Share Food and Care for One Another.” Purpose-driven companies are believed to perform better. We believe our purpose will assist us to grow substantially faster than the foodservice distribution industry and deliver profitable growth through our Recipe for Growth transformation. This growth transformation is supported by strategic pillars that we believe will allow us to better serve our customers, including our digital, products and solutions, supply chain, customer teams, and future horizons strategies.

Our business transformation initiatives are progressing, which include promoting our specialty programs for produce, protein and Italian products, and our customer growth initiatives. From these actions, as a part of our Recipe for Growth, the benefits of our developing capabilities are apparent in the new customers we are winning and in the progress we are making toward increasing market share. We expect that, as our Recipe for Growth matures, the impact on our top-line growth will deliver profitable and consistent growth. 

Results of Operations

The following table sets forth the components of our consolidated results of operations expressed as a percentage of sales for the periods indicated:

 13-Week Period Ended39-Week Period Ended Mar. 29, 2025Mar. 30, 2024Mar. 29, 2025Mar. 30, 2024Sales100.0 %100.0 %100.0 %100.0 %Cost of sales81.7 81.4 81.8 81.5 Gross profit18.3 18.6 18.2 18.5 Operating expenses14.8 14.9 14.5 14.7 Operating income3.5 3.7 3.7 3.8 Interest expense0.8 0.7 0.8 0.8 Other expense (income), net— 0.1 0.1 — Earnings before income taxes2