McCormick's New Products Are About to Wake Up America
McCormick & Company (NYSE: MKC) reaffirmed its annual guidance for the year when it recently reported solid second-quarter results. Management believes it can achieve 5% to 7% top-line sales growth on a constant-currency basis in 2017.
One of the areas the company is counting on to boost sales is new consumer products to be introduced in the second half of the year. It's part of McCormick's three-pronged strategy to grow revenue to $5 billion in 2019. (The other two prongs are growth in the company's base products and acquisitions.)
Here is a look at McCormick's robust slate of new consumer products, which features an entrance to a completely new market for the company: breakfast foods. Non-cereal breakfast in the U.S. is a $4 billion market where the company has virtually no sales of significance and a wide open green field of opportunity.
Source: Fool.com
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