United Natural Foods Inc Reports Net Income of $24 Million for FY 2023
Annual revenue reaches $30,272 million
UNITED NATURAL FOODS INC [UNFI], a leading distributor of natural and organic foods, has reported its financial results for the fiscal year 2023 ending on July 29, 2023. The company recorded a net income of $24 million, representing a decrease compared to the previous year. Despite this, the company achieved strong annual revenue of $30,272 million, demonstrating continued growth in its core business.
Financial Performance
United Natural Foods Inc's gross profit for the year amounted to $4,131 million, showing stability in its ability to generate revenues. Operating expenses for the year reached $3,973 million, reflecting the company's efforts to control costs. The company's operating income for the year was $120 million, a significant decline compared to the previous year's figure of $423 million. This decrease can be attributed to higher restructuring, acquisition, and integration-related expenses.
