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Profits Soar at UNFI, but Sales Miss Analysts' Mark
DAYVILLE, Conn. -- Sharing a fate similar to one of its biggest customers, Whole Foods, United Natural Foods, Inc. (UNFI) here yesterday took lumps from Wall Street even though it reported net income of $12.7 million for the fourth quarter ended July 29, a 7.6 percent increase over the previous year, and net sales of $619.8 million, up $76.8 million, or 14.1 percent, from last year. The problem: the natural foods wholesaler still fell short of analysts' high expectations, which on average predicted sales of $630.5 million.UNFI attributed the gap between results and expectations t -
Profits Soar at UNFI, but Sales Miss Analysts' Mark
DAYVILLE, Conn. -- Sharing a fate similar to one of its biggest customers, Whole Foods, United Natural Foods, Inc. (UNFI) here yesterday took lumps from Wall Street even though it reported net income of $12.7 million for the fourth quarter ended July 29, a 7.6 percent increase over the previous year, and net sales of $619.8 million, up $76.8 million, or 14.1 percent, from last year. The problem: the natural foods wholesaler still fell short of analysts' high expectations, which on average predicted sales of $630.5 million.UNFI attributed the gap between results and expectations t