What is in this article?:
- UNFI revenue report reveals growth for natural retailers
- Will natural retailers remain recession-resilient?
UNFI’s fourth quarter report shows that the natural products industry continues to be recession-proof. And it’s not just larger chains with ringing registers, but also independents that are enjoying double-digit growth.
Food distributor United Natural Foods Inc., reported that net sales for the fourth quarter of fiscal 2011, ending July 30, totaled $1.16 billion, an increase of 17.2 percent, or $170.2 million, over net sales of $988.5 million for the comparable quarter in fiscal 2010.
Net income for the fourth quarter of fiscal 2011 fell by $0.5 million, or 2.6 percent, to $17.2 million, from $17.6 million for the comparable quarter in fiscal 2010. The decrease is due primarily to expenses of a $6.3 million previously announced restructuring of the company's UNFI Specialty Distribution Services division ("UNFI Specialty"), including some $5.8 million related to the company’s selling of its non-food lines of business.
"Fiscal 2011 was a transitional year for UNFI, as we generated over 20 percent sales growth and record net income," commented Steven Spinner, president and chief executive officer, in a press release. "As we look forward to fiscal 2012, we plan to continue the roll-out of our new warehouse management system, while focusing on increasing service levels and operational productivity."