logo
Plus   Neg
Share
Email

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 RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
An administrative law judge has ruled that Minnesota regulators should approve Enbridge Inc.'s proposal to replace its aging Line 3 crude oil pipeline only if the company follows the existing route and not its preferred route. Enbridge has applied to replace its Line 3 pipeline from Alberta with new pipe along its existing route. In Minnesota, the planned route deviates from the existing route. CLICK HERE to see America's 10 Best-Selling Drugs Despite high drug costs, most of the top-selling drugs saw sales gains in 2017 compared to the prior year. A large number of the best-selling drugs are primarily for the treatment and management of cancer, diabetes, inflammatory disorders, and HIV... Most Americans have access to health care, though costs and services vary from state to state. However, higher costs do not necessarily translate into better results. The U.S. continues to be outperformed by other wealthy nations on several measures like life expectancy, disease burden and health...
Follow RTT