Shares of organic and natural foods distributor and supermarket operator United Natural Foods (NYSE: UNFI) tumbled 27.5% through 11:15 a.m. ET Wednesday morning after the company announced a big earnings miss. Despite edging out analyst predictions for $7.8 billion in sales for its fiscal second quarter of 2023, United Natural Foods whiffed badly on earnings, reporting a non-GAAP (adjusted) profit of only $0.78 per share where Wall Street had expected $1.46. Gross profit margin slumped 80 basis points to 13.7%, with noncash charges related to how the company accounts for the value of inventory (specifically, using last in, first out valuation, or LIFO) accounting for some of the decline.