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.
United Natural Foods (NYSE: UNFI) announced plans to offer $400 million in Senior Notes due 2028. The company aims to utilize the net proceeds to repay part of its term loan facility, including accrued interest. The offering is targeted at qualified institutional buyers in the U.S. and outside the U.S. under applicable securities regulations. The notes will not be registered with the Securities Act, thus limiting their sale without proper registration. This release serves informational purposes and does not constitute a sale or solicitation.
United Natural Foods, Inc. (NYSE: UNFI) reported a net sales increase to $26.5 billion for fiscal 2020, marking an 18.9% growth year-over-year. Despite recording a net loss of $(274 million due to goodwill impairment, adjusted EBITDA rose to $673 million, and adjusted EPS increased to $2.72. In Q4, net sales reached $6.75 billion, a 0.4% increase, while net income surged 173.7% to $52 million. The company expects fiscal 2021 growth with net sales projected between $27.0 - $27.8 billion, reflecting a 3.3% increase over FY20.
United Natural Foods (UNFI) announced that CEO Steven L. Spinner will retire on July 31, 2021, or earlier with a successor's appointment. Post-retirement, Spinner will serve as Executive Chairman. The Board has commenced a search for a new CEO, engaging an executive search firm to consider both internal and external candidates. Spinner expressed pride in UNFI's achievements during his 12-year tenure, highlighting growth from $3 billion to over $26 billion in annual sales. He emphasized the company’s mission of delivering food and looked forward to future expansions and opportunities.