What is in this article?:
- UNFI Experiences Growth Pains in Q4
- Union Cites Compensation Gap
“We’re growing. We grew almost 21% last year and 16% this year.”
— Steven Spinner, CEO, UNFI
Union Cites Compensation Gap
The union, which represents 168 workers at the facility, said UNFI has refused to bargain about a large compensation gap between the company and its local competitors. “Despite soaring profits, UNFI compensates its employees at a rate of 25% less than the compensation provided by other major unionized grocery distributors in the Puget Sound area,” the local said in a statement.
2012 Power 50: No. 20 Steven Spinner
For the fourth quarter, which ended July 28, UNFI said sales increased by 16% to $1.3 billion while net income of $25.1 million improved by 46.4%. Gross margin as a percent of sales was down by 1.5%.
For the fiscal year, sales increased 15.6% to $5.2 billion while net income of $91.3 million was up 19.1%.
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