UNFI Reports First Quarter Fiscal 2021 Results

United Natural Foods, Inc. reported that net sales increased 6.0% to $6.67B.  

December 09, 2020 07:00 AM Eastern Standard Time

PROVIDENCE, R.I.--(BUSINESS WIRE)--United Natural Foods, Inc. (NYSE: UNFI) (the “Company” or “UNFI”) today reported financial results for the first quarter of fiscal 2021 (13 weeks) ended October 31, 2020.

First Quarter Fiscal 2021 Highlights (comparisons to first quarter fiscal 2020)

• Net Sales increased 6.0% to $6.67 billion
• Net loss of $1 million, including $43 million in pre-tax charges and costs
• Adjusted EBITDA increased 30.6% to $159 million
• Loss per diluted share of $0.02, reflective of charges and costs
• Adjusted earnings per share (EPS) increased by $0.47 to $0.51
• Prior guidance affirmed for net sales, adjusted EBITDA, and adjusted EPS

“I am pleased with the start to fiscal 2021 as UNFI leveraged strong sales growth into year-over-year expanded adjusted EBITDA margins for the third consecutive quarter,” said Steven L. Spinner, Chairman and Chief Executive Officer. “We’ve done a great job protecting the safety of our associates and helping our customers succeed in an evolving operating environment while building for the future through new distribution centers, customer solutions, and innovation across our business. Our newest distribution center will be a campus in Allentown, PA to service Key Food beginning next fall and facilitate further growth in the greater New York metropolitan market.”

The full report may be viewed here.