logo
Share SHARE
FONT-SIZE Plus   Neg

McCormick Outlines Growth Initiatives - Quick Facts

McCormick & Company Inc. (MKC) said that it is investing in its business with brand marketing support and acquisitions, and fueling this growth with productivity improvements through its Comprehensive Continuous Improvement program.

Long-term, the company said it expects to achieve annual growth of 4-6% in sales, 7-9% operating income and 9-11% earnings per share. The company said along with a commitment to annual dividend increases, these financial objectives should lead to a double-digit increase in total shareholder return for the company's investors.

McCormick noted that in the U.S., consumption of spices has grown almost three times as fast as population growth. Today, 87% of consumers say taste is the most important driver of food selection, and 69% like to try new flavors, an increase of 5% in the past two years according to the Institute of Food Technologists. Outside of the U.S., similar forces are driving consumer demand for flavor.

The company has a particular interest in emerging markets and expects 20% of sales to come from these markets by 2015.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Even after two years of thoroughly searching across the Indian Ocean, using modern technologies and devices, there is no clue about the Malaysian airline that vanished on March 8, 2014. Internet access is growing worldwide, but there is still a long way to go before the entire world is completely wired, a study from the Pew Research Center has found. The study also noted that men have greater access to the Internet than women in many nations. Backtracking on its early announcements on digital privacy, WhatsApp is planning to share member information, phone numbers and analytical data with Facebook, to make revenue from the platform.
comments powered by Disqus
Follow RTT