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McCormick Q1 Results, Full-Year 2010 Goal
Posted: April 1, 2010
McCormick & Co.’s (Sparks, MD) sales for the first quarter of 2010 grew 6% (2% in local currency) due to favorable currency exchange rates and the company’s investments in brand marketing and product innovation. Meanwhile, for full-year 2010 the company’s goal is to grow sales 2–4% in local currency, with an additional 2% sales increase from favorable foreign currency exchange rates.
Of this, Alan Wilson, McCormick’s chairman, president and CEO, said, “Today we find more consumers eating at home and looking for great taste, convenience, value and wellness. Our goal for 2010 is to capture their interest with a significant increase in marketing support and a line-up of exciting new products.”