McCormick Earnings Take a Hit From COVID-19
Investors have been more cautious about McCormick's (NYSE: MKC) business since the COVID-19 outbreak began affecting global commerce in February. While the spice and flavorings giant sells pantry items that are now in high demand, it counts restaurant chains, which are facing historically challenging selling conditions right now, as some of its biggest customers.
On Mar. 31, McCormick announced fiscal first-quarter results that reflected this volatile operating position. While sales for the period were only mildly pressured by coronavirus containment measures in China, the earnings pinch was great enough to suggest significant challenges ahead through at least the next quarter.
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Source Fool.com
