PROVIDENCE – United Natural Foods Inc. reported a loss of $31 million in the company’s second quarter ended Feb. 1, an improvement from a $342 million loss one year prior.
Loss per diluted share was 57 cents for the quarter, compared with $6.72 one year prior.
Quarterly revenue was $6.1 billion, a 0.2% decline year over year. The company’s supermarkets channel revenue was $3.9 billion. UNFI’s supernatural channel, which supplies Whole Foods, had a revenue of $1.2 billion, a 10% increase year over year. The company’s independents channel had revenue of $631 million, a decline from $675 million one year prior.
“UNFI continues to evolve as the industry leader providing retailers with today’s most sought-after products,” said Steven L. Spinner, chairman and CEO. “Despite considerable industry headwinds, I’m encouraged by our underlying performance and the momentum that is building within our business.”
The company incurred restructuring, acquisition and integration costs of $29.7 million for the quarter, a decline from $47.1 million one year prior. The costs were said to include charges related to the disposal of existing retail and surplus real estate, distribution network consolidation and employee-related costs.
UNFI acquired the wholesaler and retail supermarket company SUPERVALU in October 2018 for approximately $2.9 billion. Since the acquisition, the company has been integrating SUPERVALU’s wholesale business and exiting its retail operations.
UNFI did not report any goodwill impairment charges for the quarter, compared with $370.9 million in the fiscal second quarter one year prior.
