Dive Brief:

• 2015年一季度销售for McCormick & Company, Incorporated rose 2% over the first quarter of 2015, and disregarding unfavorable currency conditions, sales grew 6% with constant currency.
• While sales grew,operating incometook a hit due tospecial charges, unfavorable currency rates, and higher material costs. Additionally,profitfell 15%.
• In terms of its2015 outlook, McCormick maintains confidence in constant currency growth in sales, at an estimated 4% to 6% and adjusted operating income, at 6% to 7%. The company also increased its outlook for special charges from $20 million to $30 million for the year, though it cut its earnings per share and adjusted earnings per share outlook.

Dive Insight:

The Wall Street Journal reported, "For the year ending in November, McCormick expects currency fluctuations will take a bigger bite from its overall sales outlook than previously anticipated and now predicts a negative effect of five percentage points, compared with previous estimate of three percentage points."

Part of McCormick's strategy in the past few months has been two acquisitions: natural, savory flavorings companyBrand Aromaticsand the announced agreement to purchase Italian spice companyDrogheria & Alimentari. McCormick chairman and CEOAlan D. Wilson said in apress releasethat Brand Aromatics "adds great capabilities to our industrial business" and D&A "complements McCormick's strong brands across Europe."