Providence, R.I.-based United Natural Foods has reported net sales of $5.96 billion — including $3.24 billion from Supervalu — for the third quarter of the fiscal year.
The earnings report demonstrated how the customer mix for the company has changed since its acquisition of Supervalu.
In the third quarter of 2018, net sales were $992 million from the supernatural customer channel (37%), $689 million from independents (26%), $706 million from supermarkets (27%) and $262 million (10%) from the “other” channel. In the third quarter of 2019, net sales were $1.1 billion from supernatural (18%), $829 million from independents (14%), $3.67 billion from supermarkets (62%) and $357 million from the “other” channel (6%).
Along with sales numbers, UNFI listed as highlights of the quarter the continued progress of the integration of Supervalu, including the establishment of a national leadership team.
“Our transformational journey continues, and I’m proud of what our team has accomplished this quarter,” Steve Spinner, chairman and CEO, said in a news release. “I am excited about our next chapter and the acceleration of value creation we expect to realize from the scale, services and assortment that only UNFI can deliver.”
The company remains on track to realize its projected cost synergies of more than $36 million in the current fiscal year and $185 million in year four of the acquisition.