Aramark Says Retention Dented by Chicago Schools Exit -- Market Talk

Dow Jones11-11

0925 ET - $Aramark(ARMK-W)$'s retention took a hit during 3Q from the loss of some lower-margin facility services accounts, particularly that of Chicago Public Schools, CEO John Zillmer says on a call with analysts. CPS said in February that it wouldn't renew a contract for Aramark to keep managing school janitors and cleaning services, allowing their most recent contract to expire at the end of June. Zillmer says the exit was the result of a "policy change driven by political considerations" and that Aramark is "not pleased with the effect this had" on overall retention." (dean.seal@wsj.com)

(END) Dow Jones Newswires

November 11, 2024 09:25 ET (14:25 GMT)

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