Business Excellence Awards
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PROVIDENCE – United Natural Foods’ fiscal fourth-quarter profit rose 46 percent from a year ago, The Associated Press reported last week.
The food distributor’s gross margin declined and its fiscal 2013 guidance was weaker than expected, the AP said.
For the three months ended July 28, the company earned $25.1 million, or 51 cents per share, compared with $17.2 million, or 35 cents per share, a year earlier. The prior-year period included $6.3 million in expenses related to a division’s restructuring. The AP said quarterly revenue increased 16 percent to $1.34 billion from $1.16 billion, topping Wall Street’s estimate of $1.32 billion.
United Natural also announced this month that it plans to consolidate four existing distribution plants in Denver into a new facility in Aurora, Colo. No jobs are expected to be impacted by the consolidation. The plant is expected to begin operations in the summer of 2013, the AP said. •