PROVIDENCE – United Natural Food Inc. earned a $59 million profit in the company’s fiscal-year second quarter that ended Jan. 30, or $1 per diluted share, the company reported Wednesday.
One year prior, the company reported a loss of $30.7 million, or 57 cents per diluted share.
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United Natural Foods shares were trading around $35 at 10 a.m. on Wednesday, more than a 14% increase over its closing price of $30.52 the day before.
The company’s share price has skyrocketed during the pandemic, climbing from $6.47 on Feb. 1, 2020.
Quarterly sales totaled $6.9 billion, an increase from $6.4 billion one year prior.
“Our strong second-quarter results demonstrate that UNFI continues to execute at a high level as we again leveraged strong year-over-year sales increases into even stronger bottom-line growth,” said Steven L. Spinner, CEO and chairman. “We anticipate the underlying momentum in our business and the increasing benefits we’re realizing from our build out the store strategy to continue for the balance of this fiscal year, and we’re also very pleased to have extended our strong partnership with Whole Foods through September 2027.”
UNFI revenue channels for the fiscal second quarter:
- The company’s sales to chains totaled $3.1 billion, a rise of 6.5% year over year.
- Sales to independent retailers totaled $1.7 billion, a 9% increase year over year
- Sales to “supernatural” stores, including Whole Foods, totaled $1.3 billion a rise of 7.2% year over year.
- Retail sales totaled $621 million, a rise of 15.2% year over year
- Sales to international customers other than Canada totaled $568 million, a rise of 0.4% year over year.
