Sysco 2014 Annual Report Download - page 5

$46.5B
Sales
4.7%
Increase in Sales
$932M
Net Earnings
$1.5B
Net Cash from Operations
$1.15
Dividends Declared Per Share
37.2
Sales
in billions
of dollars
10
39.3
11
42.4
12
44.4
13
46.5
14
1,180
Net Earnings
in millions
of dollars
10
1,152
11
1,122
12
992
13
932
14
1.99
Diluted
Earnings
Per Share
in dollars
10
1.96
11
1.90
12
1.67
13
1.58
14
885
Net Cash from
Operations
in millions
of dollars
10
1,092
11
1,404
12
1,512
13
1,493
14
.99
Dividends
Declared
Per Share
in dollars
10
1.03
11
1.07
12
1.11
13
1.15
14
tofiveoperating companies and
addedtwo more shortly after the
year’sclose, for a total of 12 com panies
now on the system. As we have made
enhancements along the way, each
implementation has been progressively
smoother and the technology has per-
formed well. Our focus in the next fiscal
year is to implement an SAP software
version upgrade and then to continue
deploying additional functions and
operating companies.
Expanding our portfolio of products
and services by initiating a customer-
centric innovation program
We continued to implement our
category management initiative in
thepast year. We focused on enhancing
ourexecution by developing and imple-
menting new field-ready sales tools,
enhancing our customer service in
support of the category wave rollouts,
and improving communication and
coordination with our local sales teams.
Nearly 100 product categories were
activated, and we anticipate launching
the remaining categories in scope by the
end of fiscal 2015. On the Sysco Ventures
front, more than 2,000 customers are
now using our technology solutions,
which utilize asuite of applications
tointeract with diners and that help
ourcustomers runtheir restaurants.
And through our ongoing “Customers 1st”
work across the business, we continue
to receive valuable insights into our cat-
egory rollouts and what our customers
need tosucceed.
Exploring, assessing and pursuing
new businesses and markets
In addition to the proposed merger with
US Foods, we continued to fill out our ser-
vice footprint in the fiscal year with some
strategic acquisitions. Among them was
an agreement to acquire a 50-percent
stake in Mayca Distribuidores S.A., a lead-
ing food distributor in Costa Rica. Domes-
tically, we also launched a comprehensive
effort to authentically serve fast-growing
ethnic market segments, beginning with
afocus on the Hispanic segment.
Developing and effectively integrating
a comprehensive enterprise-wide
talent management process
Results from our third Sysco Speaks
survey indicate that our leadership team
ismaking improvements in listening to
andengaging with associates. The survey
feedback ultimately allows us to develop
and refine tools and business processes
tohelp everyone better serve and support
our customers. Additionally, with the antic-
ipated completion of the proposed merger
with US Foods, we envision leveraging and
blending the best industry talent from
both companies to partner in our custom-
ers’ success.
The year ahead will be a continuation of
these transformational themes: growing
the core business, streamlining opera-
tions, optimizing and managing our
business costs, and beginning the inte-
gration of the proposed merger with
USFoods. The fundamental elements
forsuccess are in place. While we have
much work ahead of us, we believe that
we are making the right strategic invest-
ments to strengthen Sysco’s leadership
position in the industry and to be our
customers’ most valued and trusted
business partner.
Jackie Ward
Chairman of the Board
Bill DeLaney
President and Chief Executive Officer
3
Jackie Ward
Chairman of
the Board
Bill DeLaney
President &
Chief Executive
Officer