Key Takeaways UNFI's Natural Products segment grew sales 10.5% in Q1, while Conventional Products revenues declined 11.7%.UNFI cited unit growth, new business wins and demand for natural and organic products.Exiting the Allentown distribution center cut volumes but expanded margins and cash flow.United Natural Foods, Inc.’s ((UNFI) first quarter of fiscal 2026 results highlighted a widening performance gap between its Natural and Conventional segments, underscoring how mix and execution are shaping margin o ...

Key Takeaways FLO sales grew 3% to $1.227 billion in Q3, but adjusted EBITDA, net income and EPS fell year over year.FLO margins declined as price mix, lower volumes and Simple Mills purchases offset ingredient cost relief.FLO is closing bakeries and realigning supply chains, while innovation investments weigh on margins.Flowers Foods, Inc. (FLO) reported third-quarter fiscal 2025 results that reflected continued pressure on profitability despite modest revenue growth. Net sales increased 3% year over year ...

Popular Italian Chain Continues Arizona Growth with New Surprise Location LOS ANGELES, Dec. 18, 2025 (GLOBE NEWSWIRE) -- Fazoli’s, a portfolio company of FAT Brands Inc. and America’s beloved fast and fresh Italian chain, officially announces the opening of its fourth restaurant in the greater Phoenix area. Located at 13510 N. Litchfield Road in Surprise, the all-new drive-thru restaurant features all the fan-favorites, including classics such as Chicken Fettuccine Alfredo, Baked Spaghetti with Meatballs, ...

Core Insights - United Natural Foods, Inc. (UNFI) is hosting its 2025 Investor Day to discuss strategic priorities, operational focus, and long-term financial goals [1][2] Strategic Initiatives - The company is advancing its strategy to build unique capabilities that help customers and suppliers differentiate and compete effectively in the marketplace [2] - UNFI aims to become the most valued partner in the food retail industry, leveraging its improved financial position and scaled network for profitable growth [2][3] Financial Targets - UNFI is updating its long-term financial algorithm, targeting low-single digit average annual growth in net sales, aiming for approximately $33 billion by fiscal 2028 [6] - The company projects low-double digit average annual growth in adjusted EBITDA, targeting around $800 million by fiscal 2028 [6] - Free cash flow is expected to be approximately $300 million annually from fiscal 2026 to fiscal 2028 [6] Value Creation Framework - The company is focused on creating new capabilities for retailers and suppliers, enhancing customer stewardship, merchandising, and digital services [6] - Investment in next-generation supply chain technologies and Lean Daily Management processes is a priority to maximize productivity and streamline operations [6] Company Overview - UNFI is North America's premier grocery wholesaler, serving over 30,000 locations with a wide variety of products, including fresh, branded, and owned brand items [5] - The company provides value-added services and marketing expertise, including proprietary technology and market insights, to support customer and supplier growth [5]

Financial Data and Key Metrics Changes - For Q4 2025, net sales were $7.7 billion, down from $8.2 billion in the previous year, reflecting a 1.6% growth when excluding the $582 million benefit from an extra week in last year's quarter [22][23] - Full-year net sales rose 4.6%, with volumes growing 1.4% and inflation at about 1.8% [24] - Adjusted EBITDA for Q4 was $116 million, compared to $133 million in the prior year, with full-year adjusted EBITDA at $552 million, slightly above the midpoint of guidance [27][28] - Free cash flow for Q4 was $86 million, bringing the full-year total to around $240 million, a significant improvement from a cash use of approximately $90 million in fiscal 2024 [28][29] Business Line Data and Key Metrics Changes - The natural segment grew by 9% on a comparable 13-week basis, outperforming the market, while conventional segment sales declined by 6% [23] - For the full year, volume growth outperformed Nielsen's industry benchmarks, largely due to the strength of the customer base and new business with existing customers [24] Market Data and Key Metrics Changes - The company is targeting a $90 billion addressable market, focusing on natural, organic, specialty, multicultural, and conventional grocery retailers [10] - The growth in the natural segment is supported by enduring consumer trends towards health and wellness [17][92] Company Strategy and Development Direction - The company aims to become the food industry's most valued partner by providing innovative products and services to help retailers and suppliers grow [9] - The refresh strategy focuses on creating more value for customers and suppliers while improving operational efficiency [10][13] - The company expects to achieve net sales growth in the low single digits from fiscal 2024 to 2027, with adjusted EBITDA growth in the low double-digit range [17][18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's trajectory and ability to create sustainable long-term value despite challenges faced during the cyber incident [20] - The company anticipates continued growth in the natural segment and improved profitability through operational efficiencies and strategic investments [21][34] Other Important Information - The company reduced net debt to around $1.8 billion, the lowest level since 2018, and reduced net leverage by 0.7 turns compared to the previous year [8][29] - The company is focused on enhancing capabilities in merchandising, revenue growth management, and technology to drive long-term growth [31] Q&A Session Summary Question: Opportunities in natural merchandising initiatives - Management highlighted three key areas: innovation for natural retailers, deepening involvement for conventional retailers, and simplifying the experience for emerging suppliers [37] Question: Improving conventional profitability - Management noted that natural products have historically higher margins and emphasized efforts to improve product mix, efficiency, and lean operations across both segments [40] Question: Updated three-year guidance and customer attrition - Management indicated solid growth in the customer file and better-than-expected organic growth, particularly in natural and organic segments [46] Question: Industry promotional backdrop - Management observed a disciplined increase in promotional activities, with volume sold on deal still below 2019 levels [48] Question: Volume metrics and cyber incident impact - Management clarified that volumes were up about 1.5% for the full year, with a more significant impact from the cyber incident on conventional sales [51] Question: Factors leading to raised adjusted EBITDA algorithm - Management attributed the increase to better-than-expected top-line growth, progress in shrink reduction, and productivity improvements [52] Question: Relationship with Amazon - Management refrained from commenting on specific customers but emphasized a tailored strategy for enterprise accounts and support for small independents [56] Question: Capital investment and facility expansion - Management discussed ongoing rationalization and expansion of distribution centers, with a focus on automation and efficiency [61][62] Question: Margin gain flow in 2026 - Management outlined key components for EBITDA growth, including the exit of unprofitable contracts and continuous progress on shrink and supplier programs [66] Question: Tariff impact - Management is closely monitoring tariffs and working with suppliers and customers to manage costs effectively [68]

Financial Data and Key Metrics Changes - For Q4 2025, net sales were $7.7 billion, down from $8.2 billion in the previous year, reflecting a 1.6% growth when excluding the $582 million benefit from an extra week in last year's quarter [22][23] - Full-year adjusted EBITDA was $552 million, slightly above the midpoint of the outlook provided earlier, with a Q4 adjusted EBITDA of $116 million compared to $133 million in the prior year [27][28] - Free cash flow for Q4 was $86 million, bringing the full-year total to approximately $240 million, a significant improvement from a cash use of about $90 million in fiscal 2024 [28][29] Business Line Data and Key Metrics Changes - The natural segment grew by 9% on a comparable 13-week basis, outperforming the market, while conventional segment sales declined by 6% [23] - For the full year, net sales rose 4.6%, with volume growth of 1.4% and inflation at about 1.8% [24] Market Data and Key Metrics Changes - The company is targeting a $90 billion addressable market, focusing on natural, organic, specialty, multicultural, and conventional grocery retailers [10] - The company expects net sales to grow in the low single digits on average from fiscal 2024 to 2027, reflecting better-than-projected organic growth [17] Company Strategy and Development Direction - The company aims to become the food industry's most valued partner by providing innovative products and services to help retailers and suppliers grow profitably [9] - The refresh strategy focuses on creating more value for customers and suppliers while becoming a more effective and efficient business [10][12] - The company plans to enhance capabilities in merchandising, revenue growth management, and technology to drive long-term growth [31] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's trajectory and ability to create sustainable long-term value despite challenges faced during the cyber incident [20] - The company anticipates continued execution of its strategy and another year of profitable growth, with adjusted EBITDA expected to exceed $730 million by fiscal 2027 [18][34] Other Important Information - The company reduced net debt to around $1.8 billion, the lowest level since 2018, and reduced net leverage by 0.7 turns compared to the previous year [8][29] - The company is focused on improving the experience for independent customers and emerging suppliers, which are critical to the industry's vitality [16] Q&A Session Summary Question: Opportunities in natural merchandising initiatives - Management highlighted three key areas: innovation for natural retailers, deepening involvement in categories for conventional retailers, and simplifying the experience for emerging suppliers [37] Question: Improving conventional profitability - Management noted that natural products have historically higher margins, and efforts are focused on improving product mix, driving efficiency, and embedding lean practices [40] Question: Updated three-year guidance and customer attrition - Management indicated solid growth in the customer file and better-than-expected organic growth, particularly in natural and organic segments [46] Question: Industry promotional backdrop - Management observed a disciplined increase in promotional activities, with volume sold on deal still below 2019 levels [48] Question: Volume metrics and cyber incident impact - Management clarified that volume growth was skewed towards natural products, with a heavier impact from the cyber incident on conventional sales [51] Question: Factors leading to raised adjusted EBITDA algorithm - Management cited stronger top-line growth, continuous progress on shrink reduction, and productivity efforts as key contributors [52] Question: Relationship with Amazon - Management refrained from commenting on specific customers but emphasized a tailored strategy for enterprise accounts [56] Question: Capital investment and facility expansion - Management confirmed ongoing rationalization and optimization of distribution centers, with plans for automation and modernization [62] Question: Margin gain flow in 2026 - Management outlined key components for EBITDA growth, including the exit of unprofitable contracts and continuous shrink reduction efforts [66] Question: Tariff impact - Management is closely monitoring tariffs and working with suppliers and customers to manage costs effectively [68]

Financial Data and Key Metrics Changes - In Q4 2025, net sales were $7.7 billion, down from $8.2 billion in the previous year, reflecting a 1.6% growth when excluding the $582 million benefit from an extra week in last year's quarter [37][38] - Full-year net sales rose 4.6% on a comparable 52-week basis, with volumes growing 1.4% and inflation at about 1.8% [39] - Adjusted EBITDA for Q4 was $116 million, compared to $133 million in the prior year, with full-year adjusted EBITDA at $552 million, slightly above the midpoint of the outlook [42][43] - Free cash flow in Q4 was $86 million, bringing the full-year total to around $240 million, a significant improvement from a cash use of approximately $90 million in fiscal 2024 [43][44] - Net debt was reduced to approximately $1.8 billion, the lowest level since 2018, with net leverage decreasing by around 0.7 turns from the end of the last fiscal year [23][44] Business Line Data and Key Metrics Changes - The natural segment experienced a growth of 9% on a comparable 13-week basis, outperforming the market, while conventional segment sales declined by 6% [38] - The company is focusing on improving category merchandising and account management capabilities, which includes realigning sales and merchandising teams [26][28] Market Data and Key Metrics Changes - The company is targeting a $90 billion addressable market that includes natural, organic, specialty, multicultural, and conventional grocery retailers [25] - The growth in the natural segment is supported by enduring consumer trends towards health and wellness [33][120] Company Strategy and Development Direction - The company aims to become the food industry's most valued partner by providing innovative products and services to help retailers and suppliers grow profitably [24] - The refresh strategy focuses on creating more value for customers and suppliers while becoming a more effective and efficient business [25][31] - The company expects to achieve net sales growth in the low single digits on average from fiscal 2024 to 2027, reflecting better-than-projected organic growth [32][33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's trajectory and ability to create sustainable long-term value despite challenges faced during the cyber incident [35] - The company anticipates continued execution of its strategy and another year of profitable growth while further strengthening its balance sheet [31][49] Other Important Information - The company has implemented lean daily management in 28 of its 52 distribution centers, which is expected to enhance operational efficiency [45] - The fiscal 2026 outlook includes expected net sales in the range of $31.6 billion to $32 billion, with adjusted EBITDA projected between $630 million and $700 million [47][48] Q&A Session Summary Question: Opportunities in natural merchandising initiatives - Management highlighted three key areas for growth in natural merchandising, focusing on innovation, simplifying the experience for emerging suppliers, and deepening involvement in categories for conventional retailers [52][56] Question: Improving conventional profitability - Management acknowledged that conventional products have lower margins and emphasized the need for thoughtful business shrinkage while focusing on improving product mix and operational efficiency [58][62] Question: Updated three-year guidance and customer attrition - Management noted solid growth in the customer file and emphasized that the strategy remains unchanged, with better-than-expected organic growth in natural and organic segments [67][68] Question: Industry promotional backdrop - Management observed a disciplined increase in promotional activities but noted that the share of volume sold on deal remains below 2019 levels [69] Question: Volume metrics and cyber incident impact - Management clarified that volume growth for the full year was about 1.5%, with a more significant impact from the cyber incident on conventional sales [70][71] Question: Adjusted EBITDA algorithm changes - Management attributed the improved adjusted EBITDA outlook to better-than-expected organic growth, continuous shrink reduction, and productivity efforts [72][73] Question: Relationship with Amazon - Management refrained from commenting on specific customers but emphasized a tailored strategy for enterprise accounts and a segmented approach to support customers of all sizes [78][79] Question: Capital investment and facility expansion - Management indicated that ongoing rationalization and expansion of distribution centers are part of their strategy, with a focus on automation and modernization [80][84] Question: Margin gain distribution in 2026 - Management outlined several factors contributing to EBITDA growth, including the exit of unprofitable contracts and continuous productivity improvements [90][93] Question: Tariff impact - Management is closely monitoring tariff developments and working with suppliers and customers to navigate challenges while keeping prices competitive [96] Question: Sales outlook for 2026 - Management expects organic sales growth led by the natural business, offset by the impact of distribution center optimization [110][111]

Q2 2025 Financial Highlights - Net sales increased by 17%[7] - Comparable store sales increased by 10.2%[7] - Diluted earnings per share (EPS) reached $1.35, representing a 44% growth[7] - Cash generation amounted to $111 million[7] - Share repurchases totaled $73 million[7] YTD 2025 Performance - Net sales increased by 18%[8] - Cash generation year-to-date reached $410 million[8] - Share repurchases year-to-date totaled $292 million[8] Full-Year 2025 Outlook - Total sales growth is projected to be between 14.5% and 16.0%[22] - Comparable sales growth is expected to be between 7.5% and 9.0%[22] - The company plans to open at least 35 new stores[22] - Earnings before interest & taxes (EBIT) is projected to be between $675 million and $690 million[22] - Diluted earnings per share (EPS) is expected to be between $5.20 and $5.32[22]