'Value-seeking' shoppers are an 'opportunity' for McCormick: CEO

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Mccormick & Company News

Brendan Foley,Brian Sozzi,Sales Estimates

Shares of McCormick & Company (MKC) are rising on Thursday after the company posted its second quarter report, beating earnings and sales estimates...

) are rising on Thursday after the company posted its second quarter report, beating earnings and sales estimates. McCormick pointed to strong demand for its spices and seasonings in Europe, the Middle East, and Africa.to give insight into the company's recent performance. Foley also discusses consumer habits and how McCormick can capitalize on those trends.

"The consumer is definitely showing a lot and exhibiting a lot of value-seeking behavior. They're being really more selective on price points. And we definitely see that throughout the store. What we're seeing, though, in the perimeter is that we're seeing more shopping going on to the perimeter. People are looking and when they usually do that, they're doing it because they're saving money or they're not eating out as much.

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