United Natural Foods, Inc. Announces Second Quarter Fiscal 2018 Results
PROVIDENCE, RI - United Natural Foods, Inc. has reported the financial results for the second quarter of fiscal 2018, which ended January 27, 2018. Results were overwhelmingly positive with increases in net sales, earning per diluted common share, and adjusted operating income.
“Our business performed well during the quarter, and I’m proud of both our results and our people. While the retail landscape continues to change, I believe UNFI is well-positioned to win. Consumer interest in better-for-you products has never been greater than it is today, and UNFI is an important connector between manufacturers, brick and mortar retailers, and Ecommerce customers. Our outlook for the remainder of fiscal 2018 remains strong,” said Steven L. Spinner, Chairman and Chief Executive Officer, according to a recent press release.
Highlights from the second fiscal quarter of 2018 are as follows:
- Net sales increased 10.6% to $2.53 billion compared to $2.29 billion for the same period last fiscal year
- Earnings per diluted common share increased $0.49 to $0.99 from $0.50 for the same period last fiscal year; adjusted earnings per diluted common share was $0.71, excluding a provisional one-time benefit related to U.S. tax reform and restructuring and impairment charges
- Operating income decreased $6.1 million, or 13.1%, to $40.2 million compared to $46.3 million for the same period last fiscal year; adjusted operating income, excluding restructuring and impairment charges, increased $5.2 million, or 11.2%, to $51.4 million
- Net income for the second quarter of fiscal 2018 increased $25.0 million, or 98.1%, to $50.5 million, or $0.99 per diluted common share, from $25.5 million, or $0.50 per diluted common share, for the second quarter of fiscal 2017
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