Shares of Sysco (SYY) fell over 4% in the past trading week. The foodservice distributor reported its first quarter results for its fiscal 2013 on Monday.
First Quarter Results
Sysco reported first quarter revenues of $11.09 billion, up 4.7% on the year. Sales were driven by food cost inflation which helped sales increase by 2.2%, acquisitions which boosted sales by 0.5%. The important case volumes grew by 2.6% over the past quarter. Revenues came slightly short of analysts expectations of $11.14 billion.
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