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Tuesday, August 16, 2022

United Natural Foods Inc. (UNFI) Stock Surges Following Disclosure of Stellar Financial Reports for Q4 2021

United Natural Foods Inc. (UNFI) stock prices were up by 19.15% shortly after market trading commenced on September 28th, 2021. This brought the price per share up to USD$45.24 early on in the trading day.

UNFI Stock’s Net Sales reports

UNFI stock reported net sales from continuing operations for the fourth quarter of fiscal 2021 in the amount of USD$6.735 million. This is lower than the USD$6.767 million in reported in the prior year quarter. This year over year difference is largely attributable to the 2020 quarter benefiting from strong customer demand. This demand was driven by early consumer responses to the pandemic. The yearly different was partially offset by growth in sales in the Supernatural channel.


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Gross Margin Breakdown

Gross margin rate for the fourth quarter of fiscal 2021 came in at 14.91% of net sales. This is comparable to the 14.84% of net sales for the fourth quarter of fiscal 2020. This year over year difference was primarily driven by improvements in Wholesale segment margin rate. This was despite the impact of a higher LIFO expense in the 2021 year.

Changes in Pension Program

Operating expenses for the fourth quarter of fiscal 2021 came out to USD$951 million. USD$63 million from the total came in the form of charges related to the withdrawal from three Retail multi-employer pension plans. UNFI stock is focused on maintaining retirement benefits for impacted associates going forward in defined contribution plans. The company will also aim to reduce risk within its operations associated with these multi-employer plans.

UNFI Stock’s Operating Expenses

Excluding the charges from pension plan adjustments, operating expenses came out to USD$888 million for Q4 2021, representing 13.18% of net sales. Operating expenses reported by UNFI stock for the prior year quarter came out to USD$887 million, representing 13.11% of net sales. The remaining year over year increase in operating expense rate was largely driven from higher supply chain and employee benefit costs. These yearly gains were partially offset by power pandemic related costs and incentive compensation expense.

Future Outlook for UNFI Stock

The company reported a promising fourth quarter of fiscal 2021, as evidenced by the strength of its financial reports. UNFI stock is poised to capitalize on the opportunities it finds at its disposal moving forward. Current and potential investors are hopeful that management will be able to effectively leverage the resources at their disposal. This is hoped to usher in consistent and organic growth in shareholder value over the long term.

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