☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended January 27, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) Commission File Number: 001-15723 UNITED NATURAL FOODS, INC. (Exact name of registrant as specified in its charter) Delaware 05-0376157 (I.R.S. Employer ...

United Natural Foods, Inc. (NYSE:UNFI) Q2 2024 Earnings Conference Call March 6, 2024 8:30 AM ET Company Participants Sandy Douglas - Chief Executive Officer John Howard - Chief Financial Officer Steve Bloomquist - Vice President, Investor Relations Conference Call Participants Mark Carden - UBS Leah Jordan - Goldman Sachs John Heinbockel - Guggenheim Securities Edward Kelly - Wells Fargo Scott Mushkin - R5 Capital Chuck Cerankosky - Northcoast Research Ben Wood - BMO Capital Markets Andrew Wolf - CL King A ...

Second Quarter Fiscal 2024 Earnings Conference Call TM March 6, 2024 Disclaimer Certain information in this presentation and discussed on the conference call which this presentation accompanies constitutes forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this presentation regarding the Company's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties and are based on current expectations ...

Exhibit 99.1 March 6, 2024 UNITED NATURAL FOODS, INC. REPORTS SECOND QUARTER FISCAL 2024 RESULTS • Net sales decreased 0.5% to $7.8 billion • Net loss of $15 million; Loss per diluted share (EPS) of $(0.25) • Adjusted EBITDA decreased 29.3% to $128 million • Adjusted EPS decreased to $0.07 • Revising fiscal 2024 outlook to reduce net sales expectations, while maintaining the midpoints and narrowing the ranges for net income, EPS, adjusted EPS, and adjusted EBITDA • Continuing to drive improved operational e ...

Commission File Number: 001-15723 UNITED NATURAL FOODS, INC. (Exact name of registrant as specified in its charter) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to For the quarterly period ended October 28, 2023 Indicate by check mark whether the re ...

United Natural Foods, Inc. (NYSE:UNFI) Q1 2024 Earnings Conference Call December 6, 2023 8:30 AM ET Company Participants Steve Bloomquist - Vice President, Investor Relations Sandy Douglas - Chief Executive Officer John Howard - Chief Financial Officer Conference Call Participants Andrew Wolf - CL King John Heinbockel - Guggenheim Leah Jordan - Goldman Sachs Scott Mushkin - R5 Capital Kelly Bania - BMO Capital Markets William Kirk - ROTH Capital Partners Chuck Cerankosky - Northcoast Research Operator Hello ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization) FORM 10-K 05-0376157 (I.R.S. Employer Identification No.) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended July 29, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to ...

Financial Data and Key Metrics Changes - Fourth quarter net sales grew by 2% to over $7.4 billion, driven by inflation and new business wins, despite a decline in unit volume [37] - Adjusted EBITDA for the fourth quarter totaled $93 million, down from $213 million in the previous year, primarily due to lower procurement gain opportunities and higher shrink levels [39][42] - GAAP EPS for Q4 was a loss of $1.15, while adjusted EPS was a loss of $0.25 compared to $1.27 income in the previous year [42] Business Line Data and Key Metrics Changes - Adjusted EBITDA in the retail segment decreased to $4 million, impacted by margin investments and higher costs associated with new stores [41] - Sales from the three primary wholesale channels grew nearly 3%, with supernatural growing over 9% [37] Market Data and Key Metrics Changes - Retail sales declined by 2% compared to the previous year's fourth quarter, primarily due to lower unit volumes [38] - The company experienced pressure in the Minneapolis-Saint Paul market due to tightening consumer demand and increased competition [38] Company Strategy and Development Direction - The company is focused on a multi-year transformation plan to modernize technology and improve operational efficiency, aiming to restore profitability and enhance shareholder value [9][10] - A refreshment of the Board was announced, adding members with deep industry experience to guide the transformation [10] - The company aims to leverage its competitive advantages through a unified technology and operational platform [20][29] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing challenges in the food industry but expressed confidence in the company's long-term growth opportunities [9][33] - Fiscal 2024 is viewed as a pivotal year for transformation, with expectations for improved efficiency and profitability [50] Other Important Information - The company plans to invest approximately $400 million in fiscal 2024, primarily in transformation initiatives [49] - The net debt to adjusted EBITDA leverage ratio finished fiscal 2023 at 3.0 times, reflecting efforts to reduce debt [43] Q&A Session Summary Question: What are you seeing from your independent grocer base? - Management noted that independent grocers are performing slightly better than the market average, with programs in place to support their success [55] Question: What has changed in your expectations for profitability? - Management indicated that external factors and the addition of performance incentives for executives contributed to a lower profitability outlook [54] Question: Can you discuss procurement gains in a normal environment? - Management confirmed that procurement gains were significantly higher pre-COVID, with expectations for a decline in fiscal 2024 [59][60] Question: How do you plan to strengthen the balance sheet? - Management emphasized the importance of the Board's refreshment in driving transformation and maximizing shareholder returns [62] Question: Can you provide an update on cost savings and contract reviews? - Management stated that significant progress has been made in reviewing contracts, with ongoing efforts to optimize agreements [70] Question: What is the outlook for retail profitability? - Management acknowledged challenges in the retail segment due to competitive pressures and increased costs, but remains optimistic about the brand's strength [92]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 29, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-15723 UNITED NATURAL FOODS, INC. (Exact name of registrant as specified in its charter) Delaware 05-0376157 (I.R.S. Employer Id ...

Financial Data and Key Metrics Changes - Net sales grew by 3.7% in Q3 2023, totaling over $7.5 billion, reflecting continued customer demand and moderating inflation [22][24] - Adjusted EBITDA for Q3 totaled $159 million, down from $196 million in the previous year, primarily due to a decline in gross profit rate [24][27] - GAAP EPS for Q3 was $0.12, including a $0.55 pretax LIFO charge, while adjusted EPS was $0.54, down from $1.10 in the previous year [27] Business Line Data and Key Metrics Changes - Wholesale sales grew by 4%, including inflation, net of elasticity of about 8% [22] - Supernatural channel sales grew the most at 12%, driven by new customer volume and increased item penetration [23] - Retail sales declined slightly due to lower customer counts and reduced items per transaction, offset by higher average unit retail [23] Market Data and Key Metrics Changes - Inflation for UNFI in Q3 was 8.2%, down from 10% in Q2, indicating a deceleration of inflation [52] - The company experienced a shift in consumer behavior towards smaller basket sizes and more value-oriented items [9][10] Company Strategy and Development Direction - The company aims to improve profitability through a detailed plan that includes SKU rationalization, administrative structure efficiencies, and commercial contract reviews [12][14] - A focus on enhancing supply chain performance and efficiency, collaborating with suppliers and customers, and upgrading digital experiences is emphasized [16][19] - The management is committed to turning around the retail segment, particularly the Cub brand, which remains a market leader in its region [40] Management's Comments on Operating Environment and Future Outlook - Management expressed disappointment in recent results but remains optimistic about future growth and profitability improvements [8][20] - The company is facing challenges from a volatile macroeconomic environment, including inflation and competition from mass merchants [10][29] - Management believes that the actions being taken will create long-term value for shareholders despite recent volatility [30] Other Important Information - The company plans to implement actions expected to add over $100 million in annualized operating margin benefits [12] - The total outstanding net debt decreased to just over $2 billion, the lowest level since the SUPERVALU acquisition [27] Q&A Session Summary Question: Challenges with procurement gains in Q3 - Management noted softness in forward buy opportunities and the magnitude of those opportunities, contributing to guidance adjustments for the rest of the year [31] Question: Impact of $100 million in near-term cost-outs - Management indicated that the $100 million in cost actions would primarily impact fiscal 2024 with minimal effect on fiscal 2023 [32] Question: Vendor promotions tracking - Promotions remain below pre-pandemic levels, and management anticipates this trend to continue into Q4 [34][35] Question: Capital allocation priorities - Management emphasized the importance of balancing investments in growth and transformation with debt reduction [36][37] Question: Retail performance and strategy - Management acknowledged weak retail performance but is implementing a strong plan to revitalize the Cub brand [39][40] Question: Changes in shrink issues - Management identified multiple factors contributing to increased shrink, including theft and operational challenges, and is focused on addressing these issues [60][61] Question: Consumer behavior trends - Management observed a gradual shift towards value-oriented purchasing and smaller basket sizes, which has been increasing over time [63] Question: Renegotiating contracts with customers and suppliers - Management highlighted the opportunity to review thousands of contracts for profitability and compliance, estimating a potential $100 million benefit [67][69]