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

Shares of McCormick & Company (MKC) 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.

McCormick CEO Brendan Foley sits down with Yahoo Finance Executive Editor Brian Sozzi 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. And so that definitely gives an indication of where the trends are. Spices and seasonings are doing well in that environment, and they tend to do well because people want a way to flavor their proteins or their vegetables or whatever it might be. And that's just an opportunity for us," Foley tells Yahoo Finance.

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This post was written by Nicholas Jacobino