United Natural Foods, Inc.
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to info@portnoylaw.com.
There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.
We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at info@portnoylaw.com.
If you choose to take no action, you can remain an absent class member.
Joining the case through the Portnoy Law website enables investors to learn about their legal claims and take an active role in recovering their losses.
The Portnoy Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
CONTACT:
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
www.portnoylaw.com
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067
info@portnoylaw.com
United Natural Foods, Inc. (UNFI) announced a $6 million decline in gross profits despite a 6% increase in net sales during its second quarter of 2023. The company attributed this decline to challenges in procurement gains and inventory gains due to supply chain volatility. This news caused a 28.1% drop in the company’s stock price. The complaint alleges that the company failed to disclose to investors that its data management and related infrastructure were inadequate, which hindered its ability to respond to cost changes such as inflationary pressure and appreciate the benefits of procurement and inventory gains achieved during fiscal 2022, leading to a material adverse impact on profitability.
