United Natural Foods has reported an increase in net sales for six months to 26 January, with a drop in operating income as a result of an acquisition in November.
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The US-based natural foods distributor saw an increase in net sales of US$1.6bn from $1.3bn of the same period last year.
Operating income was down to US$43.8m from $44.58m due to its purchase of Millbrook Distribution Services.
“In an increasingly tough economy, we are pleased to report strong sales growth in all of our channels,” said Michael Funk, president and CEO. “As we look forward, we believe there are significant opportunities to expand and improve our speciality foods operations as we work to further integrate Millbrook into the company.”
United Natural Foods reaffirmed its projected net sales guidance for fiscal year 2008, ending 2 August, of $3.27-3.35bn, which represents a 19% to 22% increase in net sales over fiscal 2007.
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By GlobalDataHowever, the company ilowered ts guidance on earnings per share for fiscal 2008 to a range of $1.12 to $1.14 per diluted share.
