LONDON (MarketWatch) — Food distribution giant Sysco Corp. (SYY 26.20,+0.89, +3.5%) said fiscal first-quarter to Sept. 27 net income rose 4% to $276.8 million, or 46 cents a share, with sales up 5% to $9.88 billion. The company food cost inflation of 8.3% (emphasis mine) and a higher tax rate limited profit growth. Analysts polled by FactSet expected earnings of 47 cents a share.
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