Sysco Says FX Increased 1Q Sales, Profits — Currency Comment
By Paulo Trevisani
Sysco Corp. said Tuesday that foreign-currency translations increased profits in its international division in the last quarter.
The Houston-based food supplier said FX increased International Foodservice Operations gross profit by 5% in the first fiscal quarter versus a year earlier, and total Sysco gross profit by 1.1%.
The company said quarterly sales also benefited from FX rates, with a 5.6% boost in the International Foodservice Operations and 1.1% for the whole company.
The first quarter of Sysco’s 2022 fiscal year ended Oct. 2, and last year it ended on Sept. 26. The WSJ Dollar Index fell 0.9% in the period.
Write to Paulo Trevisani at paulo.trevisani@wsj.com
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