The coronavirus chewed through Sysco’s core grub-supplying business as restaurants around the world shuttered last year. Revenues for Sysco, America’s biggest wholesale food distributor, fell 12% year on year to $52.9 billion, a decline that caused it to slide 20 places in the Global 500 rankings. COVID-19 took a bite out of profits, too, causing a stomach-churning 87% drop to $215 million. The Houston, Texas-based company pivoted amid pandemic-related closures to help its eatery customers offer alternative options, like takeout-meal kits and contactless menus. But Sysco’s financial prospects are mostly tied to people’s desire to dine out again as the economy reopens.
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