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Why United Natural Foods Stock Popped Today

·2 min read
Why United Natural Foods Stock Popped Today
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Shares of United Natural Foods (NYSE: UNFI) were soaring today after the organic and natural food wholesaler smashed earnings estimates in its fourth-quarter earnings report. United Natural Foods, which is the biggest supplier to Whole Foods and serves 30,000 other organic grocery stores and conventional supermarkets, said revenue fell 0.5% to $6.74 billion as the company faced difficult comparisons with the year-ago quarter when Americans were avoiding restaurants. New CEO Sandy Douglas said in a statement, "I see significant opportunity to accelerate the value we create with and for our customers as well as the opportunity to make our operations more effective and efficient, both leading to continued profitable growth within our estimated $140 billion addressable market."