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United Natural Foods misses sales expectations but offers an upbeat outlook

United Natural Foods Inc. reported fiscal fourth-quarter net income totaling $43 million, or 69 cents per share, down from $53 million, or 89 cents per share, last year. Adjusted EPS of $1.18 beat the FactSet consensus of 80 cents. Sales of $6.735 billion were down from $6.767 billion and below the FactSet consensus for $6.850 billion. For fiscal 2022, United Foods is guiding for sales of $27.8 billion to $28.3 billion, EPS of $3.60 to $3.90 and adjusted EPS of $3.90 to $4.20. The FactSet consensus is for sales of $27.831 billion and EPS of $3.38. United Natural shares fell 1.9% in Tuesday premarket trading but have soared 137.8% for the year to date. The S&P 500 index has gained 18.3% for 2021 so far.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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