logo
  Join        Login             Stock Quote

United Natural Foods (UNFI) 1Q Earnings, Sales Rise On Strond Demand

 November 30, 2012 07:52 AM
 


(By Balachander) United Natural Foods Inc. (NASDAQ: UNFI) posted higher earnings and sales growth for the first quarter on strong demand for its natural and organic products.

The distributor of natural, organic and specialty foods delivered adjusted earnings per share (EPS) rose 16 percent to 46 cents, in line with consensus estimates. GAAP net income grew 41 percent to $21.5 million.

Net sales jumped 16 percent to $1.41 billion. Wall Street analysts expected revenue growth of 14.40 percent.

Gross margin shrank 110 basis points to 16.7 percent for the three months ended October.

"Despite moderated inflation and higher than anticipated product shortages, strong consumer demand continued to drive steady growth for our products and services during the quarter," commented CEO Steven Spinner.

[Related -United Natural Foods, Inc. (UNFI) Q1 Earnings Preview: Can UNFI Post Another Beat?]

Spinner said he anticipates growth for the holiday season to remain strong as consumers continue to move towards a healthier lifestyle.

UNFI stock closed Thursday's regular trading at $52.07. Over the past year, shares have been trading between $35.85 and $61.26.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageUpbeat Forecasts For US Housing Sales In March

The Fiscal Times advises that the “the housing market is about to perk up.” One of the reasons for the read on...

article imageHappy Birthday, Moore's Law - Pearls of Wisdom for Investors

As Moore’s Law turns 50, we reflect on technology’s incredible history and limitless read on...

article imageIndex Investing Is Not Inherently Socialistic

How does capital get allocated to the public stock read on...

article imageDon't Let Fear of a 'Grexit' Keep You Out of European Stocks

After nearly three years of extremely weak economic growth, the European Central Bank is finally delivering read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.