UNFI Stock Recent News

United Natural (UNFI) is strategically focusing on operational enhancements and efficiency to boost profitability despite retail sector challenges and a changing economic landscape.

United Natural's (UNFI) first-quarter fiscal 2024 results reflect loss due to reduced inflationary benefits. Net sales increase from the year-ago quarter's level.

United Natural Foods, Inc. (NYSE:UNFI ) Q1 2024 Earnings Conference Call December 6, 2023 8:30 AM ET Company Participants Steve Bloomquist - Vice President, Investor Relations Sandy Douglas - Chief Executive Officer John Howard - Chief Financial Officer Conference Call Participants Andrew Wolf - CL King John Heinbockel - Guggenheim Leah Jordan - Goldman Sachs Scott Mushkin - R5 Capital Kelly Bania - BMO Capital Markets William Kirk - ROTH Capital Partners Chuck Cerankosky - Northcoast Research Operator Hello and welcome to the UNFI First Quarter Fiscal 2024 Earnings Call. All lines have been placed on mute to prevent any background noise.

United Natural Foods (NASDAQ:UNFI), the main supplier to Whole Foods Market, has reported a smaller-than-expected first-quarter loss on sales that fell short of expectations. The Providence, Rhode Island-based wholesale foods distributor also guided for a bigger full-year net loss, sending its share lower in early Wednesday morning trading.

United Natural Foods Inc.'s stock UNFI, +0.68% was moving between gains and losses early Wednesday, after the grocery wholesaler posted a narrower-than-expected fiscal first-quarter adjusted loss, but sales that fell short of estimates. The company had a net loss of $39 million, or 67 cents a share, for the quarter to Oct. 28, after income of $66 million, or $1.07 a share, in the year-earlier period.

United Natural's (UNFI) Q1 performance will likely reflect retail footprint pressure stemming from tightening consumer demand, lower government support programs and stiff price competition.

United Natural (UNFI) is benefiting from its e-commerce strength thanks to its increased digital solutions. However, the company continues to battle softness in the Retail business.

Investors cheered as United Natural Foods' CFO and CEO each bought shares in recent weeks. The purchases followed a sharp pullback late last month on the heels of the company's latest quarterly results.

The company needs to upgrade its supply chain and modernize its technology. That transformation will be a multiyear effort, and it will take time to turn things around.

Shares of United Natural Foods (UNFI) plunged over 27% on Tuesday to a more than three-year low after the natural and organic food distributor posted a quarterly loss and gave a full-year outlook that was well below forecasts.