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McCormick Reports Q2 Sales Gain
Posted: June 28, 2010
McCormick & Co. (Sparks, MD) has reported a second quarter 2010 sales gain of 5%, totaling $452.7 million, bringing its six-month sales total to $906.2 million. The industrial business sales rose 7%, totaling $345.6 million. Of the results, president and CEO Alan Wilson said, "McCormick has achieved excellent financial results through the first half of 2010. During this period, we have increased our marketing support 22% to introduce consumers to some great new products and to feature the convenience, value, health and great taste of our leading brands. Our employees have made great strides with our comprehensive continuous improvement program, which is our ongoing program to improve productivity and reduce costs throughout the company. We now expect CCI-led savings to exceed $40 million in 2010. This level of performance demonstrates the effectiveness of our strategy and growth initiatives, particularly in an economic environment that remains challenging. As we look ahead to the second half of our fiscal year, we are well-positioned to deliver record results in 2010."