unfilogoa07.jpg
December 6, 2018

UNITED NATURAL FOODS, INC. REPORTS FIRST QUARTER FISCAL 2019 RESULTS

Net Sales Increased 16.7% to $2.87 Billion
Provides Fiscal 2019 Guidance Inclusive of SUPERVALU

Providence, Rhode Island- December 6, 2018 -- United Natural Foods, Inc. (Nasdaq: UNFI) (the "Company" or "UNFI") today reported financial results for the first quarter of fiscal 2019 ended October 27, 2018.

First Quarter Fiscal 2019 Highlights
 
13-Week Period Ended
 
 
($ in thousands, except for per share data)
October 27,
2018
 
October 28,
2017
 
Change
Net Sales
$
2,868,156

 
$
2,457,545

 
$
410,611

16.7
 %
Net (Loss) Income
$
(19,294
)
 
$
30,505

 
$
(49,799
)
(163.2
)%
Adjusted EBITDA(1)
$
86,194

 
$
84,824

 
$
1,370

1.6
 %
(Loss) Earnings Per Diluted Share (EPS)
$
(0.38
)
 
$
0.60

 
$
(0.98
)
(163.3
)%
Adjusted EPS(1)
$
0.59

 
$
0.60

 
$
(0.01
)
(1.7
)%
(1)
Please refer to the tables in this press release for a reconciliation of non-GAAP financial measures to the most directly comparable financial measure calculated in accordance with GAAP.

"We closed on the previously announced purchase of SUPERVALU which will accelerate UNFI's transformation of food distribution throughout North America," said Steven L. Spinner, Chairman and Chief Executive Officer. "The integration of the two companies is well underway and we continue to be excited about the long-term creation of value for our shareholders we expect to deliver with this combination."

First Quarter Fiscal 2019 Summary
Net sales of continuing operations by customer channel for the first quarter of fiscal 2019 compared to the first quarter of fiscal 2018 were as follows ($ in millions):
 
 
 
 
13-Week Period Ended
Customer Channel
 
% Growth
 
October 27, 2018
 
October 28, 2017
Supernatural
 
20.4%
 
$
1,027

 
$
853

Independents
 
4.4%
 
667

 
639

Supermarkets
 
0.6%
 
707

 
704

Other
 
(7.3)%
 
243

 
262

Supervalu
 
 
 
224

 

Total
 
16.7%
 
$
2,868

 
$
2,458


Gross margin for the first quarter of fiscal 2019 was 14.38% of net sales and included a $1.8 million, or 0.06% of net sales, inventory fair value adjustment charge related to the acquisition of SUPERVALU. When adjusted for this charge, gross margin in the first quarter of fiscal 2019 was 14.44% of net sales compared to 14.94% of net sales in last fiscal



The following information was filed by United Natural Foods Inc (UNFI) on Thursday, December 6, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
×

Membership Level change

You have selected the Paid Monthly membership level.

Get unlimited access to our online tools for reading 10-Ks and 10-Qs more efficiently including:

  • Positive & negative highlights info
  • No advertisements info
  • Direct links to disclosures info
  • Wider reading area info
  • Email notifications info
  • Stock screener info

The price for membership is $0.00 now and then $10.00 per Month after your 3 day trial.


Account Information Already have an account? Log in here

LEAVE THIS BLANK

Select a Payment Plan No contracts, cancel anytime

Payment Information We Accept Visa, Mastercard, American Express and Discover

/
(what's this?)
Your privacy is important to us - We do not rent or sell your personal information to third parties.
By creating an account, you are agreeing to our Terms and Privacy Policy

Log in with your credentials

or    

Forgot your details?

Create Account