PROVIDENCE, R.I. — United Natural Foods Inc. here said Thursday an increasing number of crossover consumers — those who shop for both organic and conventional products — helped boost financial results for the fiscal third quarter that ended April 30.
Net income for the quarter rose 19.9% to $23.4 million, while sales increased 22.1% to a record $1.2 billion.
Sales grew consistently across all customer channels, Steven Spinner,
president and chief executive officer, noted, including 19.8% among
supermarkets, 10.3% at Whole Foods and 8% in the independent channel, excluding the impact of two acquisitions earlier in the year.
The company acquired SunOpta Distribution in Canada in June 2010 and two non-perishables warehouses from Whole Foods Market, Austin, Texas, last October, which combined for estimated sales of $95.9 million. Excluding those items, sales for the quarter rose 12.4% to $1.1 billion.
For the nine-month period net income increased 17.4% to $59.5 million, while sales jumped 21.8% to $3.4 billion.
UNFI said it has narrowed its earnings guidance for the year to a range of $1.67 to $1.69 per share, compared with previous guidance of $1.65 to $1.71; it has also raised its annual sales guidance to a range of $4.48 billion to $4.52 billion, compared with previous guidance of $4.4 billion to $4.5 billion.
