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United Natural Foods Inc (UNFI) is the leading independent national distributor in North America, providing a wide range of natural, organic, and specialty foods, as well as related products like nutritional supplements, personal care items, and organic produce. With operations spanning the United States and Canada, UNFI delivers exceptional distribution services alongside a suite of innovative, value-added services aimed at fostering mutual growth and success for both customers and suppliers.
Headquartered in Providence, Rhode Island, UNFI operates through five principal units: UNFI Eastern Region, UNFI Western Region, Albert’s Organics, Select Nutrition Distributors, and UNFI Canada. These divisions are supported by 28 strategically located distribution centers, ensuring efficient and timely delivery to a diverse customer base that includes conventional supermarket chains, natural product superstores, independent retail operators, e-commerce platforms, and foodservice channels.
UNFI's product portfolio encompasses national, regional, and private label brands grouped into various categories such as grocery and general merchandise, produce, perishables and frozen foods, nutritional supplements and sports nutrition, bulk and foodservice products, and personal care items. Beyond distribution, the company’s divisions like Blue Marble Brands, Earth Origins Markets, Woodstock Farms Manufacturing, and Honest Green further solidify its market presence.
UNFI also offers comprehensive marketing and promotional tools, merchandising, category management, and store support services to ensure client success. Recent achievements include expanding their distribution network, enhancing service offerings, and entering into strategic partnerships to boost operational efficiency and market reach.
Dedicated to sustainability and social responsibility, UNFI continues to lead the industry with a focus on delivering high-quality, health-conscious products, and fostering a positive impact on the communities they serve.
United Natural Foods (NYSE: UNFI) announced the grant of a restricted stock unit (RSU) award to R. Eric Esper, its Chief Accounting Officer, on December 11, 2020. This award covers 43,324 shares of common stock and will vest in three equal annual installments starting from the first anniversary of the grant date. The RSU was approved by the Compensation Committee under the NYSE's employment inducement exemption and is similar to RSUs granted to other employees. UNFI remains North America's leading food wholesaler, serving various retail and food service customers.
United Natural Foods, Inc. (NYSE: UNFI) reported a 6.0% increase in net sales to $6.67 billion for Q1 fiscal 2021, with a net loss of $1 million. Adjusted EBITDA rose 30.6% to $159 million, while adjusted EPS jumped from $0.04 to $0.51 year-over-year. The company reaffirmed its full-year guidance for net sales and adjusted EBITDA. Operating expenses increased slightly to 13.50% of net sales, but improved operational efficiency led to a better gross margin rate at 14.48%. The company is expanding its distribution capabilities to meet growing demand.
United Natural Foods, Inc. (NYSE: UNFI) is set to release its fiscal 2021 first-quarter financial results for the period ending October 31, 2020, on December 9, 2020. The company will hold a conference call at 8:30 a.m. ET to discuss these results. Investors can join the call by dialing (877) 682-3423 and using conference ID 8959225. Additionally, an audio webcast and relevant materials will be available on the company's website for 120 days, highlighting UNFI's commitment to transparency and investor engagement.
United Natural Foods, Inc. (NYSE: UNFI) announced new long-term labor agreements with Teamsters in its Hudson Valley distribution center and California locations to enhance operational flexibility. The contracts ensure competitive wages and strong benefits for associates while reinforcing UNFI’s commitment to safety amid the COVID-19 pandemic. Chief Operating Officer Eric Dorne emphasized the significance of these agreements for bolstering customer service during peak seasons. UNFI has ratified approximately 15 labor agreements in the last two years, showcasing its commitment to equitable labor relations.
United Natural Foods, Inc. (NYSE: UNFI) has completed its notes offering of $500 million in 6.750% Senior Notes due 2028. After initial purchaser discounts and expenses, the net proceeds were approximately $490.5 million. UNFI will use these proceeds, along with borrowings from its ABL credit facility, to repay $500 million of its term loan facility. This marks UNFI's first unsecured note offering, aiding in extending the maturity of its debt and aims for a long-term net leverage between 2.0x and 2.5x, according to CFO John Howard.
United Natural Foods, Inc. (NYSE: UNFI) has priced its notes offering, increasing the amount to $500 million from $400 million. The 6.750% Senior Notes, due 2028, will be sold to investors at par and aim to reduce outstanding amounts under its term loan facility. The sale is set for October 22, 2020, pending customary closing conditions. The notes are unsecured obligations guaranteed by existing and future subsidiaries and will be offered only to qualified institutional buyers and non-U.S. persons.
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.
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