McCormick’s price hikes spice up quarterly results despite sluggish demand
McCormick reported increased quarterly sales and profit due to higher prices for seasonings and sauces. These gains helped offset weaker consumer demand caused by economic factors and a cyclospora outbreak.
McCormick reported higher quarterly sales and profit on Thursday, as pricier seasonings and sauces helped cushion the blow from weaker consumer demand due to elevated gas prices and a cyclospora outbreak that dented volumes.
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