PROVIDENCE – United Natural Foods Inc. reported a $15 million loss in its fiscal second quarter that ended Jan. 27, or 25 cents per diluted share, the company reported Wednesday.
One year prior, the natural and organic food company reported a profit of $19 million, or 31 cents per diluted share.
Quarterly sales totaled $7.7 billion, a decrease from $7.8 billion one year prior.
“Our second quarter results reflect our continued focus and progress on execution and profitability improvement through the important holiday selling season," said CEO Sandy Douglas. "Greater-than-anticipated benefits from our near-term value creation initiatives and further advances in managing shrink partially offset the expected reduction in procurement gains and startup costs associated with a new distribution center.
"We are making steady progress on the multiple work streams underlying both our near-term and longer-term transformation into a more efficient and effective partner to our customers, while we also enhance profitability and long-term shareholder value creation,” he added.
UNFI revenue for the fiscal second quarter:
- The company’s sales to chains totaled $3.2 billion, a 0.5% loss year over year.
- Sales to independent retailers totaled $1.9 billion, a 3.7% loss year over year.
- Sales to “supernatural” stores, including Whole Foods Market, totaled $1.7 billion, a rise of 5.5% year over year.
- Retail sales totaled $631 million, a loss of 4.4% year over year.
- Sales classified as “other” totaled $615 million, a rise of 1% year over year.
Also on Wednesday, Giorgio “Matteo” Tarditi was named president and chief
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GIORGIO “MATTEO” Tarditi has been named president and chief financial officer, effective April 15.. Tarditi will succeed John W. Howard, who is leaving the company following a short transition period. / COURTESY UNFI[/caption]
financial officer, effective April 15. Tarditi will succeed John W. Howard, who is leaving the company.
“Matteo is a proven executive who, over the course of his more than 26 years at [General Electric], served as CFO for seven business units, including renewable energy and energy connections as externally reported segments, and large divisions of the power, oil and gas, aerospace and health care businesses," Douglas said. "His deep financial expertise and knowledge of these businesses enabled him to successfully drive operational excellence, efficiency and increased productivity in complex transformations and M&A integrations."
In his new role, Tarditi oversee corporate finance, treasury, strategy, financial planning and analysis, tax, accounting, investor relations, risk management and shared services.
“I am thrilled to join UNFI’s talented team, renowned for its customer-centric and collaborative culture,” said Tarditi. “I am excited by the opportunity to contribute to the mission of feeding families across North America and to support the customer and supplier-driven strategy and transformation plan for the company."
Tarditi began his career with General Electric in 1997, which included numerous positions of increasing responsibility in health care. Most recently he served as group financial planning and analysis Leader since 2021. Prior to that, he served as CFO of GE Renewable Energies.