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United Natural Foods Inc. (NYSE:UNFI) reported fourth-quarter adjusted earnings above market expectations on Tuesday, although revenue missed analysts' forecasts and declined from the previous year.
Adjusted earnings per share came in at $0.69, ahead of the analyst consensus of $0.61. Revenue reached $7.64 billion, below the $7.69 billion expected by analysts and down 0.7% from $7.70 billion in the prior-year quarter.
United Natural Foods shares edged 0.09% higher in pre-market trading following the results.
Fourth-quarter sales were affected by approximately 500 basis points from planned optimisation measures and a further 150-basis-point headwind related to the completion of short-term project work.