US: UNFI lifts sales target after "record" Q3
US distributor United Natural Foods (UNFI) today (2 June) lifted its full-year sales targets after seeing third-quarter revenues rise almost 11%.
The company said it expects to report net sales of US$3.68-3.72bn for fiscal 2010, a rise of 6.5-7.5% on the year. UNFI's previous forecast was $3.54-3.63bn.
UNFI posted third-quarter net sales of $985.7m, an increase of 10.8%, as the distributor benefited from growing demand in the US organic sector.
"Our fiscal 2010 third quarter reflected the continuing rebound of the natural and organic industry as our growth accelerated during most of the quarter, resulting in both record revenues and net income," UNFI president and CEO Steve Spinner said.
Net income stood at $19.5m for the three months to 1 May, up from $16.8m a year earlier.
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