United Natural Foods Inc - UNFI STOCK NEWS

United Natural Foods, Inc. (NYSE: UNFI) has appointed Mark Bushway as Chief Supply Chain Officer, effective January 3, 2022. Bushway, previously President of UNFI’s Atlantic Region, will oversee the fulfillment network of 56 distribution centers serving over 30,000 customers in North America. His focus will include optimizing the fulfillment strategy and expanding distribution capabilities. With 18 years at UNFI and prior experience at C&S Wholesale Grocers, Bushway is well-positioned to lead this critical area of the business.

United Natural Foods reported Q1 FY2022 results with net sales of $7.0 billion, up 4.7% year-over-year. Net income reached $76 million, a significant increase from last year's loss. Earnings per share (EPS) stood at $1.25, up from a loss of $0.02. Adjusted EBITDA rose to $189 million, a 18.9% increase. The Company affirmed its full-year outlook with anticipated net sales between $27.8 billion and $28.3 billion. Credit ratings were upgraded by Moody's and S&P as the Company invests in distribution capabilities to meet customer needs.

United Natural Foods, Inc. (NYSE: UNFI) will announce its fiscal 2022 Q1 financial results on December 8, 2021, at 8:30 a.m. ET. The results will cover the quarter ending October 30, 2021. A conference call will be held following the release, accessible via a U.S. toll-free number. An audio webcast and related materials will be available on the company's website for up to 120 days post-event.

United Natural Foods, Inc. (NYSE: UNFI) has completed the repricing of its senior secured term loan, lowering the Applicable Rate from 3.50% to 3.25% for LIBOR-based loans, while maintaining a LIBOR floor of 0.00%. The amendment did not change other material terms of the loan, including covenants and maturity. Additionally, S&P Global and Moody’s Investors Service upgraded UNFI's corporate credit ratings to ‘B+’ and ‘Ba3’, respectively, citing improved operating performance and credit metrics.

United Natural Foods (NYSE: UNFI) has established a reseller agreement with DoorDash (NYSE: DASH) to enhance on-demand grocery delivery for independent retailers across the nation. This collaboration enables local grocers to utilize DoorDash's logistics network, allowing consumers to order groceries without minimums or time slots. The initiative aims to drive sales for independent retailers by improving online access and increasing customer loyalty. UNFI's Professional Services offers over 150 customizable solutions to assist grocers in navigating the evolving market.

United Natural Foods, Inc. (NYSE: UNFI) announced the granting of a total of 43,215 shares in restricted stock units (RSUs) and performance-based stock units (PSUs) to CEO J. Alexander Miller Douglas. The RSUs will vest annually over three years, while the PSUs will vest after three years based on performance metrics. This grant follows Douglas's appointment and was approved under NYSE's employment inducement exemption. Notably, Douglas's retirement qualification period differs from other employees, set at six years instead of the usual ten.

United Natural Foods (NYSE: UNFI) reported its financial results for Q4 and FY2021, highlighting a 1.5% increase in net sales to $27.0 billion. Q4 net sales fell 0.5% to $6.7 billion, with net income at $43 million, an 18.9% decrease.

However, adjusted EPS rose 11.3% to $1.18. The company reduced net debt by $317 million and projected FY2022 net sales of $27.8 - $28.3 billion with net income growth of 56%.

United Natural Foods, Inc. (NYSE: UNFI) will report its fiscal 2021 fourth-quarter financial results on September 28, 2021, covering the period ending July 31, 2021. A conference call will follow at 8:30 a.m. ET, where management will discuss the results. Interested parties can access the call by dialing (877) 682-3423 in the U.S. or via an audio webcast on the company's website. UNFI is the largest publicly traded grocery distributor in America, serving various customer sectors across North America.

United Natural Foods (NYSE: UNFI) has expanded its partnership with RangeMe to enhance product discovery for retailers and suppliers. This advancement allows retailers to facilitate purchase orders via UNFI’s Easy Options platform directly through RangeMe. The collaboration aims to improve the visibility of emerging suppliers and increase access to a broader array of grocery and wellness products. UNFI's Easy Options serves small-to-medium-sized businesses, while RangeMe enhances retail buyer discovery processes.