United Natural Foods Inc. reported a 26% bump in sales for its private brands arsenal for the third-quarter, ended May 2.
The thousands of private brands under UNFI’s direction flourished and helped drive an overall 12% rise in net sales for the company, year over year, reaching $6.67 billion for the quarter. Net income increased by 54% to $88 million.
The grocery distributor delivers products to natural product superstores, independent retailers, conventional supermarket chains and more. It also said during its 2020 outlook that it will continue to operate its Cub Foods banner and some Shoppers Foods Warehouse stores for the next two years.
UNFI purchased Supervalu in 2018 for nearly $3 billion and has four private brands currently on its roster: Wild Harvest, Culinary Circle, Essential Everyday and Equaline.
"UNFI's ability to successfully manage the strong increase in customer demand driven by the COVID-19 pandemic is a testament to the dedication of our associates, our strong industry position, and the critical role we play in the North American food supply chain," said Steven L. Spinner, chairman and chief executive officer. "We expect elevated consumer demand for our wide variety of natural, conventional and fresh perimeter products, along with our ongoing synergy and integration initiatives, to result in a strong finish to the fiscal year. I am so proud of our team of front line associates who continue to amaze us with their commitment to excellence. Our first priority will continue to be their safety."