logo
Sysco's growth and expansion accelerates with grand opening of Tampa Bay facility in Florida

Sysco's growth and expansion accelerates with grand opening of Tampa Bay facility in Florida

Globe and Mail24-07-2025
PLANT CITY, Fla., July 24, 2025 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE:SYY) celebrated today the grand opening of its newest facility, Sysco Tampa Bay, the ninth site opened in the past year as the company continues its global growth and expansion.
Sysco Tampa Bay, the sixth broadline facility in Florida, will create more than 300 jobs in one of the state's most booming regions and is further evidence of the corporation's commitment to grow with its communities and customers.
Sysco has opened or expanded 13 facilities in the past year, including in Allentown, Pa., Calgary, Canada, Ireland, London and Sweden. Sysco's Greco Italian food specialty company has opened three facilities since the start of 2024, and four facilities, including in Wisconsin and Scotland have expanded their footprint.
'Sysco is committed to growing with our customers and our communities and making sure we are there to help them succeed by providing diverse, quality products at good value and superb customer service. We are doing this here in Florida, in Pennsylvania, Wisconsin, London, Ireland, Sweden and across the globe,' said Sysco Chairman and CEO Kevin Hourican.
'Sysco's global growth has created hundreds of jobs globally in the past year and we are confident our reach and community impact will expand as we meet the needs of our customers,' Hourican added.
Sysco Tampa Bay will cater to a 100-mile area of Florida and provide the growing food-away-from home sector with access to hundreds of thousands of well-priced quality products.
'Florida is one of the most rapidly growing areas of our country and we are excited to be a part of that journey,' Sysco West Florida Region President Jane Grout said. 'Our growth is evidence of Florida's growth – we outgrew our Orlando facility and so to support our current and our future customers we are expanding with them. Today we celebrate our mutual growth.'
About Sysco
Sysco is the global leader in selling, marketing and distributing food and related products to customers who prepare meals away from home. This includes restaurants, healthcare and educational facilities, lodging establishments, entertainment venues, and more. Sysco operates 340 distribution centers, in over 10 countries, with 76,000 colleagues serving approximately 730,000 customer locations. The company generated sales of more than $78 billion in fiscal year 2024 that ended June 29, 2024.
As the world's largest food-away-from-home distributor, Sysco offers customized supply chain solutions, bespoke specialty product offerings, and culinary support to drive customers to innovate and optimize their operations. We act as a trusted business partner to our customers, helping them grow through our industry-leading portfolio that includes fresh produce, premium proteins, specialty products, sustainably focused items, equipment and supplies, and innovative culinary solutions.
For more information, visit www.sysco.com investors.sysco.com.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Access Advance Extends Founding Licensee Incentives for Video Distribution Patent Pool Through September 30, 2025
Access Advance Extends Founding Licensee Incentives for Video Distribution Patent Pool Through September 30, 2025

National Post

time25 minutes ago

  • National Post

Access Advance Extends Founding Licensee Incentives for Video Distribution Patent Pool Through September 30, 2025

Article content BOSTON — Access Advance LLC today announced an extension of its Founding Licensee incentive program for the Video Distribution Patent (VDP) Pool through September 30, 2025. The incentive program, which originally concluded on June 30, 2025, offers significant savings in royalty payments for video streaming providers seeking comprehensive video codec licensing coverage across HEVC, VVC, VP9, and AV1 technologies. The VDP Pool Licensors have approved this extension to give potential Licensees additional time to qualify for the Founding Licensee benefits. Article content Founding Licensees will receive a 25% reduction in standard royalty rates and a complete waiver of back royalties through 2024. The extension gives potential licensees an additional period to qualify for these benefits by signing a license. The extension responds to continued market interest from video distributors evaluating the VDP Pool's one-stop licensing solution following the recent announcement of major industry participants including ByteDance, Kuaishou, NTT Docomo, and Tencent joining as Licensees of the VDP Pool. Article content Article content 'The strong initial response to our VDP Pool launch demonstrates the market's need for simplified video codec licensing,' said Peter Moller, CEO of Access Advance. 'By extending these Founding Licensee benefits, we're providing additional time for video streaming providers to evaluate how the VDP Pool can simplify and optimize their patent licensing while delivering meaningful savings in royalty payments. Some companies have asked us to extend the qualifying date for Founding Licensee incentives to December 31, 2025, but the Licensors have not yet made a decision about that request.' Article content Interested companies are encouraged to promptly contact Access Advance at licensing@ and lock in the Founding Licensee incentives before the current September 30, 2025 deadline. Article content About Access Advance: Article content Access Advance LLC is an independent licensing administrator company formed to lead the development, administration, and management of patent pools for licensing essential patents of the most important video codec technologies. Access Advance provides a transparent and efficient licensing mechanism for both patent owners and patent implementers. Article content Access Advance manages and administers the HEVC Advance Patent Pool for licensing over 27,500 patents essential to H.265/HEVC technology and the VVC Advance Patent Pool for licensing essential patents to VVC/H.266 technology. The company's Multi-Codec Bridging Agreement provides eligible licensees with a single discounted royalty rate structure for licensees participating in both the HEVC Advance and VVC Advance pools. In addition, Access Advance offers the VDP Pool, a comprehensive licensing solution for video streaming services covering HEVC, VVC, VP9, and AV1 codecs. For more information, please visit: Article content Article content Article content Article content Contacts Article content Media Contact: Article content Article content Meredith Hollander Article content Article content Article content Email: Article content press@ Article content Article content Website: Article content Article content Article content

RBGLY Investors Have Opportunity to Lead Reckitt Benckiser Group plc Securities Fraud Lawsuit with the Schall Law Firm
RBGLY Investors Have Opportunity to Lead Reckitt Benckiser Group plc Securities Fraud Lawsuit with the Schall Law Firm

Globe and Mail

time25 minutes ago

  • Globe and Mail

RBGLY Investors Have Opportunity to Lead Reckitt Benckiser Group plc Securities Fraud Lawsuit with the Schall Law Firm

The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Reckitt Benckiser Group plc ('Reckitt' or 'the Company') (OTC: RBGLY) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. Investors who purchased the Company's securities between January 13, 2021 and July 28, 2024, inclusive (the 'Class Period'), are encouraged to contact the firm before August 4, 2025. If you are a shareholder who suffered a loss, click here to participate. We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at or by email at bschall@ The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member. According to the Complaint, the Company made false and misleading statements to the market. Reckitt failed to inform investors that preterm infants suffered an increased risk of developing necrotizing enterocolitis ('NEC') when consumed its Enfamil formula. The Company misled investors about its exposure to legal claims related to NEC. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Reckitt, investors suffered damages. Join the case to recover your losses. The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

Buy, Sell or Hold Astera Labs Stock? Key Tips Ahead of Q2 Earnings
Buy, Sell or Hold Astera Labs Stock? Key Tips Ahead of Q2 Earnings

Globe and Mail

time25 minutes ago

  • Globe and Mail

Buy, Sell or Hold Astera Labs Stock? Key Tips Ahead of Q2 Earnings

Astera Labs ALAB is set to report its second-quarter 2025 results on Aug. 5. For the to-be-reported quarter, ALAB expects revenues between $170 million and $175 million, suggesting an increase between 7% and 10% year over year. Earnings are expected between 32 cents and 33 cents per share. The Zacks Consensus Estimate for second-quarter revenues is currently pegged at $172.7 million, indicating an increase of 124.7% from the figure reported in the year-ago quarter. The consensus mark for earnings is currently pegged at 33 cents per share, unchanged over the past 30 days and suggests massive 153.85% growth over the figure reported in the year-ago quarter. ALAB's earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average earnings surprise being 28.41%. Let's see how things are shaping up prior to this announcement. Factors to Note for ALAB's Q2 Earnings Astera Labs expects accelerated shipments of Scorpio P-Series switches and Aries 6 retimers on a customized rack-scale AI platform based on market-leading GPUs to boost top-line growth. Scorpio revenues are expected to grow sequentially in the second quarter. Astera Labs is benefiting from strong demand for Aries and Taurus product families, both expected to grow on a sequential basis in the second quarter of 2025. Diversification across both GPU and custom ASIC-based systems for a variety of applications, including scale-up and scale-out connectivity, is a key catalyst for ALAB's Aries product family. Continued deployment of AI and general-purpose systems at leading hyperscaler customers is benefiting the Taurus system. However, uncertainty over tariff-related issues and stiff competition from the likes of Credo Technology CRDO and Broadcom AVGO are major headwinds. The company continues to invest in product development to stay ahead of the competition. In first-quarter 2025, research and development (R&D) expenses jumped 20% year over year to $64.6 million. Operating expense is expected to be between $73 million and $75 million in the second quarter of 2025, driven by higher R&D expenses. ALAB Shares Underperform Sector Astera Labs shares have dropped 1% year to date, underperforming the broader Zacks Computer and Technology sector's return of 9.1% and the Zacks Internet Software industry's return of 17.5%. ALAB Stock's Performance Astera Labs stock is not so cheap, as the Value Score of F suggests a stretched valuation at this moment. In terms of the forward 12-month Price/Sales, ALAB is trading at 26.26X, higher than the industry's 5.65X. Price/Sales (F12M) Astera Labs is currently trading above the 50-day and 200-day moving averages, indicating a bullish trend. ALAB Trades Above 50-Day and 200-Day SMAs Strong Portfolio Aids Astera Labs Amid Growing Competition Astera Labs has emerged as a key player in next-gen data center connectivity with a full-stack portfolio spanning PCIe 6.0, Ultra Accelerator (UA) Link, and CXL 3.0. Apart from shipping PCIe Gen 6 Scorpio P-Series Smart Fabric Switches, Aries 6 PCIe/CXL Smart Retimers, and Aries 6 PCIe Smart Cable Modules, the company added Aries 6 PCIe Smart Gearboxes. The addition of PCIe 6 over Optics Technology is noteworthy. Astera Labs plans to provide a broad portfolio of connectivity solutions for the entire AI rack through purpose-built silicon hardware and software to support computing platforms based on both custom ASICs and merchant GPUs is a key catalyst. UA Link, which combines the memory semantics of PCIe and the fast speed of Ethernet, but is devoid of the software complexity and performance limitations of Ethernet, is a game-changer. ALAB expects to deliver UA Link solutions in 2026 to solve scale-up connectivity challenges for next-generation AI infrastructure. The growing proliferation of UA Link is expected to be a multibillion-dollar additional market opportunity for Astera Labs by 2029. A rich partner base that includes NVIDIA NVDA, Alchip and Wistron is noteworthy. Astera Labs has showcased the first end-to-end PCIe 6 interoperability with NVIDIA's Blackwell GPU and Micron's NVMe SSD, with both Aries 6 PCIe Smart Retimer and Scorpio-P PCIe SmartFabric Switch. ALAB is advancing next-gen data center infrastructure with the introduction of a PCIe 6-ready reference design based on NVIDIA Blackwell-based MGX platform that leverages Scorpio Smart Fabric Switches for AI and cloud infrastructure. ALAB has announced a collaboration with NVIDIA to provide scale-up connectivity solutions for the new NVIDIA NVLink Fusion ecosystem. However, Astera Labs is facing stiff competition from both Broadcom and Credo Technology. Broadcom's launch of PCIe Gen 6 portfolio, featuring high-port switches and retimers tested for interoperability with partners like Micron and Teledyne LeCroy, is a noteworthy development. Credo Technology continues to gain share in the optical segment, with a major DSP win for an 800G transceiver and the launch of ultra-low-power optical DSPs based on 5nm technology. It also reported a healthy pipeline of PCIe Gen6 AECs and retimers, with further customer wins expected to support fiscal 2026 growth. Conclusion Astera Labs benefits from a strong portfolio and partner base amid rising competition and tariff uncertainties. A stretched valuation somewhat dims the stock's appeal ahead of second-quarter 2025 results. ALAB currently has a Zacks Rank #3 (Hold), which implies that investors should wait for a more favorable entry point to accumulate the stock. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Zacks Names #1 Semiconductor Stock This under-the-radar company specializes in semiconductor products that titans like NVIDIA don't build. It's uniquely positioned to take advantage of the next growth stage of this market. And it's just beginning to enter the spotlight, which is exactly where you want to be. With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $971 billion by 2028. See This Stock Now for Free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. NVIDIA Corporation (NVDA): Free Stock Analysis Report Broadcom Inc. (AVGO): Free Stock Analysis Report Astera Labs, Inc. (ALAB): Free Stock Analysis Report

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store