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United Natural Foods Inc. (UNFI+1.30%) has submitted its 10-Q filing for the quarterly period ended February 1, 2025.
The filing reports net sales of $8.158 billion for the quarter, an increase from $7.775 billion in the same quarter of the previous year. This growth was primarily driven by increased unit volumes in the Natural category and inflation.
Cost of sales for the quarter was $7.086 billion, resulting in a gross profit of $1.072 billion. The gross profit margin decreased slightly to 13.1% from 13.3% in the previous year, mainly due to lower product margin rates and changes in customer and product mix.
Operating expenses totaled $1.031 billion, representing 12.6% of net sales, compared to 13.0% in the previous year. The decrease in operating expense ratio was attributed to cost-saving initiatives and the leveraging impact of higher sales.
The company incurred $9 million in restructuring, acquisition, and integration related expenses, primarily due to employee severance and separation costs.
Net interest expense for the quarter was $38 million, a slight decrease from $40 million in the previous year, due to lower outstanding debt balances.
The company reported a net loss attributable to United Natural Foods, Inc. of $3 million, or $0.05 per diluted share, compared to a net loss of $15 million, or $0.25 per diluted share, in the previous year.
Adjusted EBITDA for the quarter was $145 million, up from $128 million in the previous year, reflecting improved gross profit and controlled operating expenses.
The report highlights that the company continues to focus on optimizing its distribution network and enhancing service to customers through a realignment of its commercial wholesale organization into two product-centered divisions.
United Natural Foods Inc. maintains a total liquidity of $1.312 billion, including $1.268 billion of unused credit under its ABL Credit Facility and $44 million in cash and cash equivalents.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the United Natural Foods Inc. quarterly 10-Q report dated March 11, 2025. To report an error, please email earnings@qz.com.