United Natural Foods (UNFI) shares dropped 15% due to Q2 sales miss and lowered sales outlook for 2024.
United Natural Foods (UNFI) shares dropped over 15% on Wednesday following a miss in second-quarter sales and a lower sales outlook for the full year. The company reported a Q2 sales decline of 0.5% to $7.78bn, compared to analyst expectations of $7.87bn. UNFI revised its 2024 outlook, reducing net sales expectations to $30.5bn-$31.0bn from previous guidance of $30.9bn-$31.5bn. The adjusted earnings for the quarter were $0.07 per share, versus the estimated $0.01 loss per share.
March 06, 2024
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