Quick Facts
FONT-SIZE Plus   Neg
Share SHARE
mail  E-MAIL

McCormick Outlines Growth Initiatives - Quick Facts

RELATED NEWS
Trade MKC now with 
4/17/2012 8:15 AM ET

McCormick & Company Inc. (MKC: Quote) 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.

Register
To receive FREE breaking news email alerts for McCormick & Co. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Chipmaker Advanced Micro Devices Inc. said Thursday after the markets closed that its first quarter loss narrowed from last year, helped by strong revenue growth in its graphics and visual solutions business. The company's quarterly earnings per share, excluding items, also came in above analysts' expectations as did its quarterly revenue. After trending higher over the past few sessions, stocks showed a lack of direction throughout the trading day on Thursday. The major averages spent the session bouncing back and forth across the unchanged line before ending the day mixed. While the major averages closed on opposite sides of the unchanged line, they all showed only modest moves. U.S. Secretary Of State John Kerry said Thursday that he and his counterparts from Russia, Ukraine and the European Union have reached an agreement on a preliminary plan for ending the ongoing crisis in Ukraine. Kerry was speaking at the end of the Ukraine contact group's first meeting, comprising the foreign ministers of Russia, Ukraine, the EU and the U.S., in the Swiss city of Geneva.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.