HOUSTON, May 16, 2008 (PRIME NEWSWIRE) -- SYSCO Corporation (NYSE:SYY), North America's largest foodservice marketer and distributor, announced today that it posted record sales of approximately $806 million, including an estimated adjustment for EITF 04-13, for the week leading up to the Mother's Day holiday. This is approximately a 6.7 percent increase over last year's Mother's Day record sales week.
"SYSCO continues to outpace the industry by achieving record sales for Mother's Day in the midst of challenging market conditions," said Richard J. Schnieders, SYSCO's chairman and chief executive officer. "Our operating companies did an excellent job working with our customers in finding supportive business solutions."
For 30 consecutive years, SYSCO has posted record sales during the week leading up to Mother's Day. According to the National Restaurant Association, Mother's Day is the most popular holiday for dining out; approximately 38 percent of Americans dine out on that day.
SYSCO is the global leader in selling, marketing and distributing food products to restaurants, healthcare and educational facilities, lodging establishments and other customers who prepare meals away from home. Its family of products also includes equipment and supplies for the foodservice and hospitality industries. For the fiscal year 2007 that ended June 30, 2007, the company generated more than $35 billion in sales. For more information about SYSCO visit the company's Internet home page at www.sysco.com.
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Forward-Looking Statements
Certain statements made herein are forward-looking statements under the Private Securities Litigation Reform Act of 1995. They include statements regarding SYSCO's sales growth and market conditions. These statements involve risks and uncertainties and are based on management's current expectations and estimates; actual results may differ materially. Those risks and uncertainties that could impact these statements include risks that pertain to SYSCO's business, including the risks relating to the foodservice distribution industry's relatively low profit margins and sensitivity to general economic conditions, including the current economic environment and decreases in consumer spending; increased fuel costs; the risk of interruption of supplies due to lack of long-term contracts, severe weather, work stoppages or otherwise; construction schedules; competitive conditions; labor issues; and internal factors such as the ability to control expenses. For a discussion of additional factors that could cause actual results to differ from those described in the forward-looking statements, see the Company's Annual Report on Form 10-K for the year ended June 30, 2007 as filed with the Securities and Exchange Commission.