United Natural Foods UNFI Brands+ have over 5,000 products across 200 categories which allow more choices for consumers and more opportunities for retailers. With that, I'll turn the call over to John for detail on our financial results, capital allocation strategy, and outlook. And as I mentioned earlier, our wholesale matrix, which involves new customers and new categories. Hi. We again saw widespread growth across the business, with wholesale sales from our three primary channels increasing by 8.2% on a combined basis. It advised on their website "the agency has not objected to the use of the term if the food does not contain added color, artificial flavors, or synthetic substances. Suppliers interested in learning more about UNFIs UpNext program should visit http://discover.unfi.com/upnext/. But note: United Natural Foods may not be the best stock to buy. -, United Natural Foods, Inc. Sure. Customized packaging options are available to support the individual needs of every customer. Copyright 2022 Surperformance. Natural Hey, good morning. Allergy to Retailers and brands need to work together to engage and educate their shoppers and our smart shelf tags provide this unique opportunity, helping with decision-making at a key point of purchase in the store.. This press release features multimedia. The USDA has a standard for organic food called the National Organic Program. Our operating expense rate before the impact of pension withdrawal charges in the prior-year quarter increased by about 30 basis points compared to last year. July 31, 2021. How is your private label business performing in terms of units or sales, or anything you can help us with? One is kind of post-pandemic screwing down standard operating procedure and process discipline, then using technology to improve accuracy, efficiency, quality, and support for our customers, and then automation. With over 150 customizable solutions, UNFI Professional Services helps grocery retailers succeed by reducing operating costs, driving traffic, increasing basket size, and enhancing the customer experience. We narrowed it down to the low teens. For our customers and suppliers who are listening in, we thank you for your continued partnership and the business we do together. As the largest full-service grocery partner in North America, UNFI is committed to building a food system that is better for all and is uniquely positioned to deliver great food, more choices, and fresh thinking to customers. United Natural Foods "[15], The Food, Drug, and Cosmetic Act prohibits labeling that is false or misleading. United Natural Foods Turning to Slide 7. ShopRite (United States Turning to Slide 13. We achieved progress on this front in fiscal 2022 as our engagement scores improved during the year. Yeah. View source version on businesswire.com: https://www.businesswire.com/news/home/20221006006003/en/. United Natural Foods, Inc. (NYSE: UNFI) (the Company or UNFI) today announced it has completed its 2022 schedule of events wrapping up its Natural Winter show in Las Vegas, Nev. on Wednesday, Oct. 5. While deploying this capital, we've also strengthened our balance sheet. And then it's just the -- where we think we're going to end up with that. The natural and organic food industry has faced multiple challenges as retailers deal with consolidation and increased competition. That scale is part of the proposition. Today, Meyer Natural Foods has broadened their expertise in the natural protein category by expanding the product portfolio to include beef, pork and turkey. And what is factored into your guidance for fiscal '23 from a customer mix standpoint? The broader kind of observation across different verticals and different positionings of retailers, I wouldn't offer anything that would add value to what you already know. Importantly, as we make these investments, we're remaining highly disciplined in managing our expenses. Real-time Estimate Cboe BZX Flipping to Slide 11. Through events like this weeks Las Vegas show, they work alongside our team to help us identify new and on-trend products, source the best deals, and assist in supplier negotiations that are impactful to our merchandising plans. I know you're going to do five DCs over four years. United Natural Foods Thanks, John. Although the first store was only 2,000 square feet and had just eight employees, community support helped the store expand to its current 10,000 square feet. I'll just add that, as Sandy said, it's continued to accelerate through the fourth quarter and then in the early innings here in fiscal '23. We're growing and performing within a quickly evolving environment by steadfastly focusing on the four operating principles that I outlined on our last call, which underpin our execution of the Fuel the Future strategy. I think that -- I think an important point for our customers is that we represent the 32,000 retail locations that we serve. But, John, do you want to talk about confidence level in that, and how to think about it? So take a peek at this free list of interesting companies with high ROE and low debt. A united front has been formed between UNFI and CoupDog, as the duo helps its retail customers advance by providing access to its state-of-the-art digital coupon This will be a regular part of our quarterly reporting deliverables. The team managed both gross margin and direct store labor in a highly disciplined manner. They just revealed what they believe are the ten best stocks for investors to buy right now and United Natural Foods wasn't one of them! Sure, Kelly. In our DCs, at the end of Q4, were down 4% and our driver vacancy rate had improved from 12% down to 8%. Thank you. Generally, we feel that we have a strong and well-diversified business and that we're capable of building our offerings largely through internal investment. Obviously, some M&A got in the way of it all being used. United Natural Foods As far as looking out over a multiyear period, it's a dynamic situation. And that's a healthy thing for suppliers because units represent consumption occasions for brands, and that's the business they're in. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. So, it's a correct read-through to see that we got the gas pedal down on that business. The machine readable files are formatted to allow researchers, regulators, and application developers to more easily access and analyze data. With your permission we and our partners would like to use cookies in order to access and record information and process personal data, such as unique identifiers and standard information sent by a device to ensure our website performs as expected, to develop and improve our products, and for advertising and insight purposes. Eric Larson -- Seaport Research Partners -- Analyst. And we clearly have more customers now than we did a year ago, so that implies that the customers we've had for more than a year, high unit performance that's weaker than the company's. Through the UpNext program, UNFI has helped give us the extra support and knowledge we needed to bring a facelift to the period care aisle, said Katie Diasti, CEO and Founder of Viv. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. [Operator instructions] Thank you. Copyright 2022 Meyer Natural Foods. I guess one other thing I'd add is that we -- one of the things, and I mentioned this in the prepared remarks, that we've been focused a lot on is attracting count. This link leads to the machine-readable files that are made available in response to the federal Transparency in Coverage Rule and includes negotiated service rates and out-of-network allowed amounts between health plans and healthcare providers. UNFI Professional Services offers the most comprehensive suite of services and solutions for grocery retailers in the market today. As Sandy just highlighted, we're pleased with the finish we delivered to fiscal 2022. United Natural Foods, Inc A review of the natural-is-better bias", http://bmb.oxfordjournals.org/cgi/reprint/56/1/1-a.pdf, "Guide to Food Labeling and Advertising, Chapter 4", "Criteria for use of the terms Fresh, Pure, Natural Etc. Retailers come to our shows not only to discover new items to keep their stores a step ahead of their competition, but also for the opportunity to connect with suppliers and utilize our insights and advanced offerings to deliver a differentiated value proposition consumers expect from their local grocer.. We feel good about the $350 million based on what we know today. The Motley Fool->, United Natural Foods (NYSE: UNFI)Q4 2022 Earnings CallSep 27, 2022, 8:30 a.m. After funding internal investments, we plan to evaluate external investments, including potential smaller, strategic, accretive, tuck-in M&A opportunities. Hi. [11] In 1971, Eleanor Levitt authored The Wonderful World of Natural Food Cookery which dismissed processed foods such as readymade dinners, cookie mixes, and cold cuts as being full of preservatives and other "chemical poisons. After the speakers.' Artificial sweeteners may be derived through manufacturing of plant extracts or processed by chemical synthesis.Sugar substitute products are commercially United Natural Foods, Inc Natural food and all-natural food are terms in food labeling and marketing with several definitions, often implying foods that are not manufactured by processing.In some countries like the United Kingdom, the term "natural" is defined and regulated; in others, such as the United States, the term natural is not enforced for food labels, although there is USDA regulation of organic labeling. We're going to look for where we can better service our customers, where we can invest in the growth of the business. First, bringing value to our customers, then improving the way we partner with suppliers. Viv is newer to retail as we started off as a direct-to-consumer brand. The technology front is particularly focused right now on quality, improving the on-time in full, accurate delivery because that was an opportunity that became stressed particularly during COVID. We are pleased to have this new capital allocation lever at our disposal as it will enable us to opportunistically repurchase shares as we embark on a reinvigorated growth strategy. Good morning. I will now turn the call over to UNFI management for some final closing comments. news Before we conclude the call, I did want to take a moment to thank Eric Dorne, our Chief Operating Officer, prior to his retirement at the end of this coming month, for his 11-plus years of service to UNFI and a leadership that he has shown throughout, Eric has been an amazing partner and a friend and a great executive here at UNFI, and we wish him good health and happiness in his future endeavors, and he will certainly be missed. As an automation technology leader, we look forward to working with the company to help streamline and improve operations across strategic assets within our distribution network. life-staged foods, and premium care products for pet birds, small animals, and wild birds. Although the first store was only 2,000 square feet and had just eight employees, community support helped the store expand to its current 10,000 square feet. That's at the heart of our model, and then from that strength of scale and earning business from the winning independent retail segment around the country, we then have the services platform to add value on top. As you can see on Slide 14, fiscal 2023 adjusted EPS is expected to benefit from about $0.44 from higher adjusted EBITDA, about $0.11 due to lower net interest expense, and by around $0.01 to a slightly lower expected tax rate. Eric, do you want to comment? Thank you. We expect this growth in adjusted EBITDA will drive similar adjusted EPS growth, with the midpoint of fiscal 2023 range at $5 per share. As we enter the new fiscal year, we strongly believe we have the right leadership team to maximize the value creation of our Fuel the Future strategy, and we're committed to doing just that. But you're right. As the largest full-service grocery partner in North America, UNFI is committed to building a food system that is better for all and is uniquely positioned to deliver great food, more choices, and fresh thinking to customers. Obviously, nice outperformance. We broadly exceeded our prior outlook expectations, with adjusted EBITDA and adjusted EPS surpassing their respective midpoints of our outlook. Editors Note: Photos from the show are available by contacting UNFIs media relations team at communications@unfi.com. I hope you've heard and take away from today's call that UNFI has momentum as we enter fiscal 2023. We ended the year with an improved balance sheet and ample liquidity to fund our growth initiatives and strategic capital allocation.
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