PROVIDENCE, RI - In spite of the inflation, shipping backlogs, and shortages facing the supply chain, companies like United Natural Foods, Inc. (UNFI) are using their industry prowess and strategic capabilities to continue coming out ahead. Recently, the company showed proof of this as it released its second quarter fiscal 2022 report detailing a more than $500 million boost in sales from the year prior.
“Our second quarter sales were the highest in UNFI’s history as our customers provided the products consumers sought for their winter holiday occasions. Despite accelerating inflation and supply chain concerns, UNFI continues to remain agile to provide the best possible service to our customers,” said Sandy Douglas, Chief Executive Officer. “We are optimistic toward the second half of the fiscal year as our Fuel the Future strategy continues to deliver real value and best positions our customers for success in today’s unpredictable environment.”
As revealed in the report for the 13 weeks ending January 29, 2022, net sales for the distributor totaled $7.4 billion, an increase of 7.5 percent from the $6.9 billion recorded during the same period last year. In addition to this rise in sales, UNFI also noted other highlights including:
- Net income of $66 million, an increase of 11.9 percent
- Earnings per diluted share (EPS) of $1.08, an increase of 8.0 percent
- Earned Top Score in Human Rights Campaign Foundation’s 2022 Corporate Equality Index
- Raised outlook for net sales
To share these results, UNFI held a conference call and audio webcast on March 9. To listen, click here.
With the strategic plan already making headway, how will UNFI continue to grow throughout the rest of 2022? Stay tuned to find out.
