Food

Changes Keep McCormick's Business Booming

BALTIMORE (WJZ) ― Are you changing habits because of the economy? If so, you're not alone.

Political reporter Pat Warren reports one company is benefitting from its changes as business has never been better.

There's plenty of belt-tightening going on that's having an impact on restaurants now that eating out is being replaced with eating in.

It's making millions for McCormick and Company.

"That's absolutely what we're finding. The latest reports show that the restaurant sales in July were off about six percent, and we've seen consumer sales continue to grow," said Alan Wilson.

Consumer sales helped give McCormick a 21 percent rise in third quarter earnings.

In fact, there's a lot more spice in life than salt and pepper. More and more McCormick's products are one-step combinations that give consumers a quick step into satisfying their taste buds and their wallets.

"We're seeing it in the items that, for us, are reflections of lower cost cuts of meat that people are using, so our slow cooker line is up about 17 percent," said Wilson.

While McCormick's products certainly aren't big ticket items, you can certainly say a little goes a long way.

"What we're finding is what was really popular two years ago were more gourmet products like seasoned sea salt and very high end kinds of things, and we're finding it now more mixing to everyday products that people can simply prepare at home," said Wilson.

McCormick reported a third quarter profit of $68.6 million this year, up from $57 million the same period last year.

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