United Natural Foods, Inc. (NYSE:UNFI) shares are trading lower on Wednesday.
United Natural reported second-quarter adjusted earnings per share of $0.07, beating the analyst consensus of $(0.01) loss.
Quarterly revenues of $7.775 billion missed the street view of $7.873 billion.
Net sales decreased 0.5% year over year, primarily driven by a decline in unit volumes, which was partially offset by inflation and new business with existing customers.
Gross profit in the second quarter was $1 billion, a decrease of 3.2% year over year. Quarterly gross margin of 13.3% was …
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