PROVIDENCE, R.I. — United Natural Foods here said Tuesday it will phase in at least $100 million in new sales this year from two new customers of its specialty division.
However, Steven L. Spinner, president and chief executive officer, declined to name the customers when questioned by analysts during an investor call to discuss financial results for the second quarter and first half, which ended Jan. 30.
"Now that we have the specialty set to match the organics, it gives [retailers] a reason to take a hard look at us, whereas in the past they couldn't," he said. "A lot of the business wins we have had are solely due to the integration of the specialty business."
Net income for the second quarter rose 15% to $15.7 million, while sales increased 6% to $898.2 million. For the half net income was up 16.1% to $31.2 million, while sales climbed 4.2% to $1.8 billion. Spinner said sales trends showed some improvement late in the second quarter, with a modest uptick toward the end of January and early February.
"It's really not been sizeable, but we've held that number for most of the quarter," he said.
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