InsideFood Message Board
Sign up Calendar
 
 
 


Reply
  Author   Comment  
Changingworld

Newbie
Registered:
Posts: 7
Reply with quote  #1 
 Is it one president for every two OPCO's now? or more complicated than that? Are presidents being let go or reassigned? 
0
laser

Senior Member
Registered:
Posts: 152
Reply with quote  #2 
No. I am not sure what the formula is, but it probably has something to with an average sales volume of each group. Presidents are being given separation packages, based on their tenure.


__________________
laser
0
FlashusClay

Newbie
Registered:
Posts: 4
Reply with quote  #3 
Some areas are combining 3 to 1
0
formerdsr

Senior Member
Registered:
Posts: 189
Reply with quote  #4 
If Sysco follows the USF "hub-and-spoke" model, you will have one President at the hub Opco, as well as a hub VP of Sales. The other branches will have VPs of Sales. Some of whom were the former President of those branches.
0
DENFOODIE

Member
Registered:
Posts: 40
Reply with quote  #5 
I heard 45 Presidents are left.
0
Pizza boy

Newbie
Registered:
Posts: 1
Reply with quote  #6 
No all presidents are being let go.
Some are give an option. Say and be the VP of sales or go

0
Investigator

Avatar / Picture

Prophet/Sage
Registered:
Posts: 1,507
Reply with quote  #7 
https://www.thelayoff.com/sysco


Key Highlights:

 13-Week Period Ended52-Week Period Ended
     
Financial Comparison:June 27, 2020ChangeJune 27, 2020Change
Sales$8.9 billion-42.7%$52.9 billion-12.0%
Gross profit$1.6 billion-47.4%$9.9 billion-13.2%
Gross Margin17.66%-159 bps18.72%-26 bps
     
GAAP:    
Operating expenses$2.1 billion-7.1%$9.2 billion0.8%
Certain Items$(497.7) millionNM$(962.5) million138.8%
Operating (Loss) Income$(531.6) million-173.8%$749.5 million-67.8%
Operating Margin(6.00)%-1065 bps1.42%-246 bps
Certain Items in Other expense (income), net$(47.0) million-170.8%$(47.0) million-170.8%
Net (Loss) Earnings$(618.4) million-215.4%$215.5 million-87.1%
Diluted (Loss) Earnings Per Share$(1.22)-218.4%$0.42 -86.9%
     
Non-GAAP (1):    
Operating Expenses$1.6 billion-26.0%$8.2 billion-5.6%
Operating (Loss) Income$(33.9) million-104.1%$1.7 billion-37.4%
Operating Margin(0.38)%-567 bps3.24%-131 bps
Net (Loss) Earnings$(147.8) million-125.8%$1.0 billion-44.4%
Diluted (Loss) Earnings Per Share (2)$(0.29)-126.4%$2.01 -43.4%
     
Case Growth:    
U.S. Broadline-41.5% -11.2% 
Local-38.7% -9.6% 
     
Sysco Brand Sales as a % of Cases:    
U.S. Broadline38.46%-2 bps38.48%39 bps
Local45.19%-239 bps46.84%-24 bps



0
FoodPeddler

Junior Member
Registered:
Posts: 11
Reply with quote  #8 
Those are BRUTAL numbers!  The loss of GP and case counts indicate terrible terrible industry loss of business.  Big question is what do the other guys look like...example US or PFG or some of the huge independents.

Be curious to see if Mcdonalds  - BK - Taco Bell - Dominos - Wendys - etc had huge increases.  Seemed for months the only place Americans left there homes to eat was the above listed.
0
commoditiesguy

Senior Member I
Registered:
Posts: 212
Reply with quote  #9 
Quote:
Originally Posted by FoodPeddler
Those are BRUTAL numbers!  The loss of GP and case counts indicate terrible terrible industry loss of business.  Big question is what do the other guys look like...example US or PFG or some of the huge independents.

Be curious to see if Mcdonalds  - BK - Taco Bell - Dominos - Wendys - etc had huge increases.  Seemed for months the only place Americans left there homes to eat was the above listed.


From the US Foods website.  You can get the whole report.  This should paint the (ugly) picture.  About a week after these numbers were released, the letter from Pietro announcing massive layoffs was sent out.

ROSEMONT, Ill.--(BUSINESS WIRE)-- US Foods Holding Corp. (NYSE: USFD),one of the largest foodservice distributors in the United States, today announced results for the second quarter of fiscal 2020. In this press release we refer to certain organic financial results. Organic financial results exclude contributions during the respective period from Smart Stores Holding Corp. (“Smart Foodservice”), which was acquired on April 24, 2020 and the Food Group of Companies (the "Food Group"), which was acquired on Sept. 13, 2019.

Second Quarter Fiscal 2020 Highlights

  • Total case volume decreased 28.0%; total organic case volume decreased 40.2%
  • Net sales decreased 29.2% to $4.6 billion
  • Gross profit decreased 41.2% to $671 million
  • Net loss available to common shareholders was $97 million
  • Adjusted EBITDA decreased 72.5% to $88 million
  • Diluted EPS loss was $0.44; Adjusted Diluted EPS loss was $0.25

Six Month Fiscal 2020 Highlights

  • Total case volume decreased 12.6%; total organic case volume decreased 24.1%
  • Net sales decreased 12.6% to $10.9 billion
  • Gross profit decreased 20.8% to $1.7 billion
  • Net loss available to common shareholders was $229 million
  • Adjusted EBITDA decreased 52.0% to $265 million
  • Diluted EPS loss was $1.05; Adjusted Diluted EPS loss was $0.10
0
Previous Topic | Next Topic
Print
Reply

Easily create a Forum Website with Website Toolbox.