On Tuesday, United Natural Foods, Inc. (NASDAQ:UNFI)’s shares declined -4.59% to $60.74.
United Natural Foods, Inc. (UNFI) declined more than 7% in after-hours trading on Jun 8. Lower-than-predictable third quarter fiscal 2015 results and a cut in guidance for fiscal 2015 dampened investors’ confidence in the stock and resulted in the share price decline.
United Natural missed earnings and revenues estimates in the third quarter. Moderate sales growth and continued margin pressure hurt profits in the quarter.
Third quarter fiscal 2015 adjusted earnings of 83 cents per share missed the Zacks Consensus Estimate of 86 cents by 3.5%. However, it grew 13.7% from the prior-year quarter earnings, driven by growth in sales and acquisitions.
Revenue and Margin Details
Quarterly net sales of $2.115 billion raised 18.7% year over year driven by continuous enhance in demand for organic, gourmet and ethnic products, and robust acquisitions. Tony’s Fine Foods (attained during fourth quarter fiscal 2014) contributed noteworthy net sales of about $213.7 million in the quarter. Not taking into account the impact of the acquisition of Tony’s Fine Foods, sales raised 6.7%. However, the company marginally missed the Zacks Consensus Estimate of $2.136 billion. Sales growth of 18.7% was also weaker than 22.5% growth in the preceding quarter.
On a channel basis, supermarket sales raised 22.1% in the third quarter and represented 26% of total sales. Supernatural channel sales raised 14.9% and represented 35% of sales in the first quarter of fiscal 2015. Sales growth in the Independent channel was 16.6% and it constituted about 32% of total sales. Food service comprised about 5% of total sales and raised 53.5% in the third quarter.
United Natural Foods, Inc., together with its subsidiaries, distributes and retails natural, organic, and specialty foods, as well as non-food products primarily in the United States and Canada. The company distributes approximately 80,000 products in 6 product categories, including grocery and general merchandise, produce, perishables and frozen foods, nutritional supplements and sports nutrition, bulk and food service products, and personal care items. It operates 12 natural products retail stores in the United States; and 1 natural products retail store in British Columbia.
SYSCO Corporation (NYSE:SYY)‘s shares gained 0.08% to $37.10.
SYSCO Corporation (SYY) declared that its Board of Directors declared a regular quarterly cash dividend of $0.30 per share, payable on July 24, 2015, to common shareholders of record at the close of business on July 2, 2015.
Sysco Corporation, through its auxiliaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates in Broadline and SYGMA segments. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats; dairy products; beverage products; imported specialties; and fresh produce.
At the end of Tuesday’s trade, General Growth Properties Inc (NYSE:GGP)‘s shares dipped -1.12% to $26.49.
General Growth Properties Inc (GGP) declared its Board of Directors declared a second quarter common stock dividend of $0.17 per share payable on July 31, 2015, to stockholders of record on July 15, 2015. The dividend represents an enhance of $0.02 per share, or about 13%, from the second quarter 2014 common stock dividend.
The Board of Directors also declared a quarterly dividend on the 6.375% Series A Cumulative Redeemable Preferred Stock (NYSE: GGP PrA) of $0.3984 per share payable on July 1, 2015, to stockholders of record on June 15, 2015.
General Growth Properties, Inc is an equity real estate investment trust. The firm invests in the real estate markets of the United States. It engages in owning, managing, leasing, and redeveloping high-quality regional malls. General Growth Properties, Inc is based in Chicago, Illinois.
Centurylink Inc (NYSE:CTL), ended its Tuesday’s trading session with -0.47% loss, and closed at $32.07.
Centurylink Inc (CTL) declares that it will host a Financial Analyst Day on Wednesday, June 24, 2015, in New York City at 8:45 a.m. EDT.
A live webcast of the event will be accessible on CenturyLink’s Investor Relations website at ir.centurylink.com. A replay of the webcast will be accessible for 21 days.
CenturyLink, Inc. provides various communications services to residential, business, governmental, and wholesale customers in the United States. It operates through two segments, Business and Consumer. The company offers broadband services, which allow customers to connect to the Internet through their existing telephone lines or fiber-optic cables; private line services for transmission of large amounts of data between sites; and multi-protocol label switching, a data networking technology to support real-time voice and video.
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