UNFI Q1 Sales Grow, Net Loss Shrinks
Fiscal year first quarter sales at United Natural Foods, Inc. increased more than 4% driven by an increase in wholesale unit volume that included new business with existing and new customers.
For the quarter ended November 2, net sales were up 4.2% to $7.9 billion. The company reported a quarterly net loss of $21 million, an improvement compared to the net loss of $39 million in the comparable quarter the previous year. Net loss per diluted share (EPS) was $(0.35) for the first quarter of fiscal 2025 compared to net loss per diluted share of $(0.67) for the first quarter of fiscal 2024.
“Our performance this quarter represents a solid start to fiscal 2025 and serves as an early proof point of our recently introduced multi-year strategic plan predicated upon bringing value to our customers and suppliers while enhancing our efficiency, improving free cash flow, and reducing net leverage,” said Sandy Douglas, UNFI’s CEO.
Douglas continued, “We’re encouraged by positive volume trends attributable to new business with existing customers and new customer additions. This volume strength primarily reflects successful execution by our customer base, supported by UNFI’s value-added positioning and unique go-to-market strategy. We remain focused on operational execution, driving efficiencies, and delivering strengthening service levels to customers and suppliers during the important holiday selling season.”
UNFI officials said the company continued to execute its recently announced multi-year strategy. This includes optimization across its distribution network including the pending closure of its Ft. Wayne, Ind., distribution center and completed the closures of its Bismark, N.D., and Billings, Mont., distribution centers. The company also moved natural volumes from its York, Pa., facility to the larger and soon-to-be automated Manchester, Pa., distribution center.
