UNFI Files 2024 10-K: Financials and Operations Detailed

TL;DR

UNFI's 2024 10-K is in. Full financial picture for the year is out.

AI Summary

United Natural Foods Inc. (UNFI) filed its 10-K for the fiscal year ending August 3, 2024. The company, headquartered in Providence, RI, operates in the wholesale grocery sector. Key financial data and operational details for the fiscal year are presented in this comprehensive filing.

Why It Matters

This filing provides investors and stakeholders with a detailed overview of United Natural Foods Inc.'s financial performance and strategic positioning for the fiscal year 2024.

Risk Assessment

Risk Level: medium — This is a standard annual financial filing providing historical data and forward-looking statements, not indicative of immediate risk.

Key Numbers

• 2024 — Fiscal Year End (The report covers the fiscal year ending August 3, 2024.)
• 0001020859 — Central Index Key (Unique identifier for the filer.)

Key Players & Entities

• UNITED NATURAL FOODS INC (company) — Filer of the 10-K
• 20240803 (date) — Fiscal year end date
• 20241001 (date) — Filing date
• Providence, RI (location) — Company headquarters and mailing address

FAQ

Key Financial Figures

• $0.01 — ich registered Common stock, par value $0.01 UNFI New York Stock Exchange Securiti
• $90 billion — e food retail industry that totals over $90 billion of wholesale sales and includes many sp
• $1.5 million — of its five-year plan and awarded over $1.5 million in grants. We also made significant str

Filing Documents

• unfi-20240803.htm (10-K) — 2866KB
• exhibit1039annualincentive.htm (EX-10.39) — 81KB
• exhibit1040-formofrsu.htm (EX-10.40) — 64KB
• exhibit1041-formofpsu.htm (EX-10.41) — 66KB
• exhibit19-insidertradingpo.htm (EX-19) — 184KB
• exhibit21-8324.htm (EX-21) — 41KB
• exhibit231-8324.htm (EX-23.1) — 3KB
• exhibit311-10k8324.htm (EX-31.1) — 10KB
• exhibit312-10k8324.htm (EX-31.2) — 10KB
• exhibit321-10k8324.htm (EX-32.1) — 4KB
• exhibit322-10k8324.htm (EX-32.2) — 4KB
• image_0.jpg (GRAPHIC) — 93KB
• image_0b.jpg (GRAPHIC) — 16KB
• unfi-20240803_g1.jpg (GRAPHIC) — 11KB
• unfi-20240803_g2.jpg (GRAPHIC) — 115KB
• 0001020859-24-000045.txt ( ) — 17887KB
• unfi-20240803.xsd (EX-101.SCH) — 105KB
• unfi-20240803_cal.xml (EX-101.CAL) — 158KB
• unfi-20240803_def.xml (EX-101.DEF) — 517KB
• unfi-20240803_lab.xml (EX-101.LAB) — 1264KB
• unfi-20240803_pre.xml (EX-101.PRE) — 929KB
• unfi-20240803_htm.xml (XML) — 3342KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 9 Item 1B. Unresolved Staff Comments 22 Item 1C. Cybersecurity 22 Item 2.

Properties

Properties 24 Item 3.

Legal Proceedings

Legal Proceedings 25 Item 4. Mine Safety Disclosures 26 Part II Item 5. Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 26 Item 6. Reserved 28 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 28 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 44 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 47 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 96 Item 9A.

Controls and Procedures

Controls and Procedures 96 Item 9B. Other Information 97 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 97 Part III Item 10. Directors, Executive Officers and Corporate Governance 98 Item 11.

Executive Compensation

Executive Compensation 98 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 98 Item 13. Certain Relationships and Related Transactions, and Director Independence 98 Item 14. Principal Accounting Fees and Services 98 Part IV Item 15. Exhibit and Financial Statement Schedules 99 Item 16. Form 10-K Summary 101

Signatures

Signatures 102 Table of Contents PART I.

BUSINESS

ITEM 1. BUSINESS In this Annual Report on Form 10-K ("Annual Report" or "Report"), unless otherwise specified, references to "United Natural Foods", "UNFI", "we", "us", "our" or the "Company" mean United Natural Foods, Inc. together with its consolidated subsidiaries. We are a Delaware corporation based in Providence, Rhode Island. We conduct our business through various subsidiaries. Since the formation of our predecessor in 1976, we have grown our business both organically and through acquisitions, which have expanded our distribution network, product selection and customer base. Our Background UNFI is a leading distributor of grocery and non-food products, and support services provider to retailers in the United States and Canada. We believe we are uniquely positioned to provide the broadest array of products and services to customers throughout North America. Our diversified customer base includes over 30,000 customer locations ranging from some of the largest grocers in the country to smaller independents as well. We offer approximately 250,000 products consisting of national, regional and private label brands grouped into the following main product categories: grocery and general merchandise; perishables; frozen foods; wellness and personal care items; and bulk and foodservice products. We believe we are North America's premier grocery wholesaler with 55 distribution centers and warehouses representing approximately 31 million square feet of warehouse space. We are a coast-to-coast distributor with customers in all 50 states as well as all ten provinces in Canada, making us a desirable partner for retailers and consumer product manufacturers. We believe our total product assortment and service offerings are unmatched by our wholesale competitors. We plan to continue to pursue new business opportunities with independent retailers that operate diverse formats, regional and national chains, as well as international customers with wide-ranging needs. Our bus

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View this 10-K filing on SEC EDGAR