Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

McCormick Outlines Growth Initiatives - Quick Facts

RELATED NEWS
Trade MKC now with 

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

Quick Facts

Editors Pick
Consumers spent less in July than in the previous month, a surprise retreat that complicates the prevailing belief that the U.S. economic situation is improving. Along with the unexpected drop in spending, government figures released on Friday showed that incomes rose at a slower pace in July than in the previous month. Meanwhile, data on prices indicated that inflation pressures remain tame. India's economy grew faster-than-expected in the three months to June and at the strongest pace in two years, preliminary figures from the Central Statistics Office revealed Friday. Gross domestic product grew 5.7 percent in the April to June quarter, which exceeded economists' forecast for 5.5 percent expansion. The economy grew 4.6 percent in the previous three months. Eurozone inflation slowed as expected in August on falling energy prices giving room for the central bank to support demand and economic recovery without stoking inflation and help the region to create more jobs. The unemployment rate remained unchanged at an elevated level in July. Nonetheless, it was at the lowest since September 2012.
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.