United Natural Foods Inc has raised its full-year sales forecast after booking an increase in its revenue and earnings for the first nine months of the year.
In the year-to-date, UNFI has grown sales to US$4.4bn, up from $3.9bn in the comparable period of the previous year. Gains were driven by continued demand for its natural and organic products and services, the group said.
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The company also reported higher earnings in the first nine months of the year. Operating profit rose to $129.4m, up from $112.2m last year. Net income increased to $77.8m in the period, up from $66.2m.
On the back of the improved performance, UNFI raised its full-year outlook. The group said it now expects sales to fall in a range of $6.03-6.06bn, which represents a 15.2-15.7% increase in total net sales over 2012. Previously the company’s guidance range was $5.88-$5.98bn. UNFI also narrowed its EPS guidance to $2.12-2.14,
