United Natural Foods, Inc. reports developments tied to its role as a North American grocery wholesaler serving natural product superstores, independent retailers, conventional supermarket chains, ecommerce providers, and foodservice customers. News commonly covers quarterly results, profitability and cash-flow trends, debt and leverage commentary, conference participation, and updates on the company’s value creation strategy.
Company updates also address fresh, branded, and owned brand product assortments, retail trend programs, supplier and customer services, proprietary technology, data and market insights, shelf management, supply-chain initiatives, network optimization, and lean process adoption across its distribution operations.
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United Natural Foods (NYSE: UNFI) will participate in the 2021 ICR Conference on January 12, 2021, starting at 9:30 am ET. CEO Steven Spinner and CFO John Howard will present and answer questions from investors. A live audio webcast and presentation will be accessible via the investor relations section of UNFI's website at www.unfi.com under the 'Events and Presentations' link. UNFI is North America's leading food wholesaler, delivering a wide array of products to various retail formats.
United Natural Foods (NYSE: UNFI) announced the grant of a restricted stock unit (RSU) award to R. Eric Esper, its Chief Accounting Officer, on December 11, 2020. This award covers 43,324 shares of common stock and will vest in three equal annual installments starting from the first anniversary of the grant date. The RSU was approved by the Compensation Committee under the NYSE's employment inducement exemption and is similar to RSUs granted to other employees. UNFI remains North America's leading food wholesaler, serving various retail and food service customers.
United Natural Foods, Inc. (NYSE: UNFI) reported a 6.0% increase in net sales to $6.67 billion for Q1 fiscal 2021, with a net loss of $1 million. Adjusted EBITDA rose 30.6% to $159 million, while adjusted EPS jumped from $0.04 to $0.51 year-over-year. The company reaffirmed its full-year guidance for net sales and adjusted EBITDA. Operating expenses increased slightly to 13.50% of net sales, but improved operational efficiency led to a better gross margin rate at 14.48%. The company is expanding its distribution capabilities to meet growing demand.
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United Natural Foods, Inc. (NYSE: UNFI) is set to release its fiscal 2021 first-quarter financial results for the period ending October 31, 2020, on December 9, 2020. The company will hold a conference call at 8:30 a.m. ET to discuss these results. Investors can join the call by dialing (877) 682-3423 and using conference ID 8959225. Additionally, an audio webcast and relevant materials will be available on the company's website for 120 days, highlighting UNFI's commitment to transparency and investor engagement.
United Natural Foods, Inc. (NYSE: UNFI) announced new long-term labor agreements with Teamsters in its Hudson Valley distribution center and California locations to enhance operational flexibility. The contracts ensure competitive wages and strong benefits for associates while reinforcing UNFI’s commitment to safety amid the COVID-19 pandemic. Chief Operating Officer Eric Dorne emphasized the significance of these agreements for bolstering customer service during peak seasons. UNFI has ratified approximately 15 labor agreements in the last two years, showcasing its commitment to equitable labor relations.
United Natural Foods, Inc. (NYSE: UNFI) has completed its notes offering of $500 million in 6.750% Senior Notes due 2028. After initial purchaser discounts and expenses, the net proceeds were approximately $490.5 million. UNFI will use these proceeds, along with borrowings from its ABL credit facility, to repay $500 million of its term loan facility. This marks UNFI's first unsecured note offering, aiding in extending the maturity of its debt and aims for a long-term net leverage between 2.0x and 2.5x, according to CFO John Howard.
United Natural Foods, Inc. (NYSE: UNFI) has priced its notes offering, increasing the amount to $500 million from $400 million. The 6.750% Senior Notes, due 2028, will be sold to investors at par and aim to reduce outstanding amounts under its term loan facility. The sale is set for October 22, 2020, pending customary closing conditions. The notes are unsecured obligations guaranteed by existing and future subsidiaries and will be offered only to qualified institutional buyers and non-U.S. persons.