United Natural Foods Remains Sharply Lower After Early Sell-Off

(RTTNews) - After falling sharply early in the session, shares of United Natural Foods, Inc. (UNFI) continue to see substantial weakness in afternoon trading on Friday. United Natural Foods is currently down by 24 percent after hitting its lowest intraday level in well over nine years.

The steep drop by United Natural Foods comes after the organic and specialty foods distributor reported weaker than expected fiscal first quarter adjusted earnings.

United Natural Foods reported first quarter adjusted earnings of $0.59 per share compared to analyst estimates of $0.73 per share, although its revenues of $2.87 billion came in above expectations for $2.70 billion.