UNFI profits, revenue rise in 2Q

THE BOTTOM LINE FOR UNITED Natural Foods Inc. rose 2.8 percent during the second quarter of fiscal year 2013 and 18.8 percent during the first six months of its fiscal year.
Posted 2/26/13

PROVIDENCE - United Natural Foods Inc.’s profit rose 2.8 percent year over year during the three months ended Jan. 26, and 18.8 percent year over year for the first two quarters of its fiscal year, the company announced Tuesday.

UNFI’s net income for the quarter totaled $22.6 million, or 46 cents per diluted share, from $22.01 million, or 45 cents per diluted share.

Year-to-date, the company’s profit came to $44.2 million, or 89 cents per diluted share, from $37.2 million, or 76 cents per diluted share.

United Natural Foods also saw its sales rise 12.3 percent and 14 percent, during the quarter and the six month period, respectively. For the three months ended Jan. 26, UNFI registered $1.4 billion in sales, while for the first six months of the company’s fiscal year sales rose to $2.9 billion from $2.5 billion in 2012.

UNFI President and CEO Steven Spinner commented that the company was “extremely focused on bringing a resolution to our labor dispute in Auburn, Wash., during the second quarter.” Spinner added that those associates are back to work and the facility is “back at full capacity.”

“UNFI continued to drive toward increasing operating excellence during the second quarter of fiscal 2013, realizing higher sales while managing our cost structure despite the quarter’s labor-related expenses,” said Spinner in a statement.

During the second quarter, the company paid $3.6 million in operating expenses related to the labor action at the Washington facility.

“Our sustained top-line growth reflects strong consumer demand being fueled by more people maintaining healthier lifestyles,” said Spinner. “We expect this trend to continue for the foreseeable future and will continue with our mission to supply natural and organic products that meet their growing needs.”

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