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Sales Up for UNFI, No Thanks to Supernatural Channel
July 21, 2003
1 Min Read
Sales Up for UNFI, No Thanks to Supernatural Channel
DAYVILLE, Conn.United Natural Foods Inc. (NASDAQ:UNFI) reportedJune 4 that for its third quarter (3Q03), ended April 30, sales rose thanks todouble-digit growth in the companys mass market and independent distributionchannels.
Sales rose to $363.6 million from $300.4 million, and gross margin stayedeven at 20.2 percent of sales. Operating expenses rose to $61.9 million comparedto 3Q02s $50.2 million, and earnings rose slightly to $5.8 million, or $.30per share earned, from $5.3 million, or $.28 per share earned.
The sales increase included a 21-percent and 38-percent growth in the massmarket and independent distribution channels, respectively; sales in thesupernatural sector decreased by approximately 3 percent, due to losing WildOats business, UNFIs second largest customer.
The company reported it projects sales growth for the fourth quarter (4Q03)to be between 15 percent and 19 percent, with diluted share earnings for thefiscal year (ending July 31) to be between $1.18 and $1.20, consistent withprevious guidances.
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