UNFI reports $48.6M profit in fiscal Q3

PROVIDENCE – United Natural Foods Inc. earned a $48.6 million profit in the company’s fiscal third quarter ended May 1, or 80 cents per diluted share, a decline from $88.1 million one year prior, or $1.60 per diluted share, the company said on Wednesday.

Company quarterly revenue totaled $6.6 billion, a decline from $7 billion one year prior.

“Our results reflect our unrelenting focus on efficiency and the profitability of our business, as we cycled the highest spikes of sales revenue from pantry loading in the prior-year quarter,” said Steven L. Spinner, chairman and CEO of UNFI in a statement. “We continue to focus on helping our customers operate their businesses and meet the needs of their shoppers through our differentiated business model. As the industry and economic backdrop continue to evolve, UNFI remains well-positioned for future growth. Fiscal 2020 was a record year for UNFI and fiscal 2021 is on track to set another record. Looking ahead, we fully expect fiscal 2022 to be even better than this year.”

UNFI revenue channels for the fiscal third quarter:

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  • The company’s sales to chains totaled $2.9 billion, a decline of 5.9% year over year.
  • Sales to independent retailers totaled $1.6 billion, an 11.4% decrease year over year.
  • Sales to “supernatural” stores, including Whole Foods, totaled $1.3 billion, a rise of 0.6% year over year.
  • Retail sales totaled $578 million, a decline of 9.3% year over year.

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