McCormick's momentum continues as retailers restock

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HUNT VALLEY, MD. – Supply chain constraints during the fourth quarter of fiscal 2020 forced McCormick & Co. to put some North American customers on allocation to meet elevated levels of demand. Easing of the constraints during the first quarter of fiscal 2021 led retailers to restock inventory and that created a slingshot effect that contributed to strong earnings during the quarter. “For the first time in several quarters, our sales increase was higher than our US IRI consumption growth,” said Lawrence E. Kurzius, chairman, . . ..
Customer replenishment is expected to continue throughout the fiscal year.