US distributor United Natural Foods Inc said it achieved “real progress” in fiscal 2012/13, resulting in an increase in full-year sales and earnings.
Earnings climbed 18.1% to US$107.9m in the 12 months ended 3 August. UNFI put the increase down to more efficient purchasing and logistics, which partially offset a shift by consumers to lower margin conventional supermarkets.
“Continued expansion of our distribution network, technology improvements and coming together as one company will be important strategies for continuing to deliver long term growth,” CEO Steven Spinner added.
Operating income amounted to $185.5m, a 19.6% increase on the prior-year period. Sales were up 15.8% to $6.06bn.
Click here to view the full earnings release.