United Natural Foods Inc - UNFI STOCK NEWS

United Natural Foods, Inc. (NYSE: UNFI) has announced enhancements in its produce sourcing model, utilizing new technologies to shorten delivery times by over a day. This initiative aims to provide fresher produce to customers, resulting in sales growth that outpaces industry trends amid inflationary pressures. The company has streamlined procurement by consolidating purchasing and sourcing directly from major Mexican suppliers, improving inventory turnover and reducing shrink. Additionally, UNFI is expanding its Wild Harvest organic produce brand, which has seen strong performance.

United Natural Foods, Inc. (NYSE: UNFI) successfully hosted its annual Conventional Expo in Minneapolis from July 19-21, attracting nearly 2,700 customers and 700 suppliers. The event showcased 270 new products and introduced 250 sustainable items, enhancing retailers' offerings for the holiday season. CEO Sandy Douglas emphasized UNFI's role in aiding retailers' growth through innovative services and exclusive promotions. The expo also included the introduction of the Independent Grocer’s Guidebook, produced with AlixPartners, designed to support grocery growth strategies.

United Natural Foods, Inc. (NYSE: UNFI) has announced a new leadership structure aimed at driving growth across four key platforms: Services, Wholesale, Retail, and Corporate and Business Transformation. CEO Sandy Douglas emphasized a focus on sustainable, profitable growth with a $140 billion addressable market. Chris Testa will lead the Services platform, while Steve Dietz will focus on Wholesale growth. This restructuring aligns with the company's 'Fuel the Future' strategy, which is now entering its second year, expecting to enhance capital allocation flexibility and shareholder value.

United Natural Foods (UNFI) reported Q3 fiscal 2022 results, showcasing a 9.2% increase in net sales to $7.2 billion and a 39.6% rise in net income to $67 million. Earnings per share (EPS) hit $1.10, marking a 37.5% growth. Adjusted EBITDA rose 5.9% to $196 million. The company updates its full-year outlook, projecting net sales between $28.8 and $29.1 billion. UNFI also refinanced its credit facility, adding $500 million to bolster liquidity. CEO Sandy Douglas emphasized the effectiveness of their strategic initiatives amid market challenges.

United Natural Foods (NYSE: UNFI) has announced its commitment to reducing emissions across its operations and value chain. The targets, validated by the Science-Based Targets initiative, aim for a 38% reduction in heavy freight GHG emissions and a 50% reduction in scope 1 and 2 emissions by 2030, using fiscal 2020 as a base year. Additionally, UNFI plans to cut scope 3 emissions from purchased goods and services by 25%. This initiative is part of their broader ESG agenda, titled Better for All.

United Natural Foods, Inc. (NYSE: UNFI) is set to release its financial results for the fiscal 2022 third quarter, ending April 30, 2022, on June 7, 2022, at 8:30 a.m. ET. Investors can access the conference call by dialing 888-660-6768, using conference ID 1099581. An audio webcast with related materials will be available on the company's website, where an archive will remain accessible for 120 days. UNFI is North America's leading food wholesaler, providing a broad range of products to diverse retail and food service customers.

United Natural Foods, Inc. (NYSE: UNFI) announced the retirement of COO Eric Dorne, effective October 29, 2022, after 46 years in the grocery industry and 11 years with UNFI. Under his leadership, the company achieved revenues exceeding $27 billion and expanded to 56 distribution centers. Dorne will assist in transitioning responsibilities to ensure operational continuity. CEO Sandy Douglas praised Dorne's significant contributions during his tenure, especially during the integration of Supervalu Inc. in 2018 and navigating the COVID-19 pandemic.

United Natural Foods, Inc. (NYSE: UNFI) expands its partnership with Too Good To Go, enhancing food waste reduction efforts. Initially a pilot program, this collaboration has significantly increased participation among retailers. The program allows grocers to sell surplus food at discounted prices, benefiting consumers and preventing waste. With plans to extend availability to more cities, UNFI aims to support independent grocers in combating food insecurity and climate change.