Consumer demand boosts United Natural Foods results
products, has achieved another strong quarterly performance driven
primarily by the growth of consumer demand in independent retail
operations and the conventional mass market.
"During the quarter we realized solid increases in net sales, net income and earnings per share, all indications that our sales and marketing strategies are on target," said United Natural Foods CEO Steven Townsend.
Net sales for the second quarter - ending 31 January 2004 - were $393.2 million, up 16.2 per cent from the previous year, with net income for the same period increasing by 27.9 per cent to $7.0 million.
The increase in net sales included growth in the conventional mass market and supernatural channels, which increased by 17 per cent and 15 per cent respectively. These increases combined sales figures from the second quarters of 2003 and 2004 following the acquisition of Blooming Prairie and Northeast Cooperative in late 2002.
"We remain focused on serving a broad customer base. Looking ahead we remain committed to meeting the needs of our customers and consistently providing high service levels across our entire distribution network," said Townsend.
United Natural Foods serves a wide variety of retail formats including conventional supermarket chains, natural product superstores, independent retail operators and the food service channel, distributing over 32,000 products to over 14,000 customers.
Recently United Natural Foods signed an agreement with Wild Oats Market - a natural food store - to become the retailer's primary distributor.
The company expects to take on primary distribution to Wild Oats Market by 1 April 2004.
