United Natural Foods, Inc. Announces "Fuel the Future" Strategy at 2021 Investor Day; Steven Spinner Discusses
PROVIDENCE, RI - If we fill up our tanks now, the fuel will burn long into the future. This is the mentality United Natural Foods, Inc. (UNFI) is operating under, as at the distributor’s recent Investors Day event, it announced the launch of its new “Fuel the Future” strategy, aiming to increase market share through network optimization, innovation, and enhanced customer experiences.
“UNFI has built a tremendous customer base; we have amazing associates, and we’re truly excited by our Fuel the Future strategy, which will help guide the next chapter of our growth,” said UNFI Chairman and Chief Executive Officer Steven Spinner. “I’m proud of all the work and success we’ve had under our prior Build-out-the-Store strategy, which widely expanded our offerings and strengthened our core business. Our new plan builds off that work, elevating us to the next level and focusing our efforts on making our customers stronger, our supply chain better, and our food solutions more inspired.”
According to the release, members of UNFI’s leadership team got together to compose the six pillars UNFI will stand on. During the investor event, UNFI shared details of its Fuel the Future plan, working together to deliver the “FUTURE” by advancing key areas of the UNFI business.
Highlights of the plan include:
- Fulfill Power in Scale – optimizing UNFI’s far-reaching distribution network, maximizing capacity, and simplifying operations
- Unlock Customer Experience – expanding the company’s portfolio of brands, products, and services
- Taste the Future – investing in existing, high-margin growth platforms such as Brands+, Services, eCommerce, and Fresh
- UNFI Pride – focusing on UNFI’s people to deliver on: UNFI’s core value of safety in the workplace; embracing and growing diversity of background, thought, and approach; and UNFI’s bold commitments toward climate change, food insecurity, and injustice, among others
- Retail Optimization – advancing the retail business through greater investment in store upgrades, eCommerce, and digital platforms
- Earn Results – driving sustainable growth and stakeholder value, with the Fuel the Future plan helping deliver fiscal 2024 financial results, which are expected to include sales of over $30 billion; adjusted EBITDA of over $900 million; and earnings per share (EPS) of over $5.25
With its tank full of fuel, there is no telling what UNFI’s future will look like.