United Natural Foods Drops On Q2 Sales Miss, Decreased Sales Outlook

(RTTNews) - Shares of United Natural Foods, Inc. (UNFI) are falling more than 10 percent Wednesday morning after its sales in the second-quarter fell short of analysts' view. The company also lowered its full-year sales outlook.

Sales for the second quarter were $7.78 billion, lower than $7.82 billion in the same period last year. Analysts on average polled by Thomson-Reuters were expecting sales of $7.87 billion.

The company posted a loss of $15 million or $0.25 per share for the quarter, compared with a profit of $19 million or $0.31 per share in the same quarter a year ago.

Excluding items, United Natural Foods reported earnings of $4 million or $0.07 per share. The consensus estimate was for $0.01 loss per share.

For the full year, sales are expected between $30.5 billion and $31.0 billion, down from the prior guidance of $30.9 billion - $31.5 billion. The Street is looking for sales of $31.01 billion.

UNFI is at $13.31 currently. It has traded in the range of $12.88 - $30.77 in the last 52 weeks.