UNFI - United Natural Foods surges on double beat expanding customer base

United Natural Foods, Inc. (UNFI +15.7%) shares jump after the company reports an earnings beat and reaffirms its full-year guidance. Net sales increased 4.7% Y/Y primarily driven by inflation and new business from both existing and new customers, including the benefit of cross selling, partially offset by supply chain challenges and expected modest market contraction. Gross margin rate expanded 48 bps driven by improvements in the Wholesale segment margin rate, including the impact of inflation. Operating expenses as a percent of sales fell 20 bps  due to leveraging fixed expenses and lower Y/Y distribution center start-up and consolidation costs, partially offset by higher transportation expenses. FY2022 outlook: Dig into United Natural Foods' earnings history here.

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United Natural Foods surges on double beat, expanding customer base