United Natural Foods (NASDAQ:UNFI) announced that first quarter income was higher by 42 percent due to strong sales. The company earned $21.5 million, or 43 cents per share, versus $15.2 million, or 31 cents per share, in the same period last year. Adjusted earnings were 46 cents per share matching the analyst estimates. Revenue increased by 16 percent to $1.41 billion, slightly beating expectations.
Shares are lower by about a quarter of a percent.
Whole Foods (NASDAQ:WFM) and Fresh Market (TFM), both of whom buy inventory from United Natural Foods, have seen their share prices tumble after announcing earnings last month.
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