Sysco Defines Plans at 2024 Investor Day to Improve Core Performance, Advance Recipe for Growth Strategy, Increase Shareholder Value

Core Insights - Sysco Corporation hosted its 2024 Investor Day to present updates on growth strategies and initiatives aimed at enhancing customer service and financial performance [1][2] - The company emphasized its 'Recipe for Growth' strategy, which focuses on five pillars: Digital, Products and Solutions, Supply Chain, Customer Teams, and Future Horizons [2][3] Financial Performance and Growth Targets - Sysco outlined plans for significant financial growth over the next three years, targeting sales growth of 4-6% annually, adjusted operating income growth of 6-8%, and adjusted earnings per share growth of 6-8% [7] - The company aims for a total return to shareholders of 9-11% per year through a growing dividend [7] Market Share and Sales Strategy - Sysco plans to accelerate independent market share growth through a collaborative approach called Total Team Selling, integrating specialists from Broadline and Specialty businesses [3] - The launch of Sysco Marketplace will allow third-party suppliers to sell products on Sysco's digital platform, enhancing customer access to over 15,000 niche products [4] Operational Excellence - Sysco's growth algorithm emphasizes sustainable growth, operational excellence, and balanced capital return, maintaining an investment-grade balance sheet while investing in long-term business growth [3][7] - The company is leveraging its global footprint to drive local growth and enhance its merchandising strategies, including deeper penetration of Sysco Brand products [3]