Looking beyond last year s pandemic sales surge, sales for the quarter increased 6.7% over 2019
Because 2020 s sales were so extremely unusual, United Natural Foods Inc. (UNFI) knew it would not surpass those figures, but the company was still bullish on its third quarter earnings the first quarter to lap last year’s pandemic-spurred sales particularly when compared to fiscal 2019.
UNFI reported net sales of $6.62 billion in Q3, which ended May 1, a drop of 5.9% year over year but an increase of 6.7% over the third quarter of 2019. We calculated this by adding the year-over-year growth rate to the prior year-over-year growth rate, and we believe it to be an appropriate way to view sales this quarter, given the unprecedented activity in last year s third quarter, said president Chris Testa in an earnings call with analysts Wednesday morning.
Chicken prices double as demand for fast food chicken soars
11 May 2021, 05:13 GMT+10
WASHINGTON D.C.: Chicken prices have soared sharply in the U.S. this year, fueled by supply shortages and a growing appetite for chicken among restaurants, which has left producers scrambling to raise production, even as labor remains scarce.
Since the start of this year, chicken breast prices have more than doubled in the U.S., while wing prices have climbed to record levels, according to market-research firm Urner Barry, according to The Wall Street Journal.
Chris Testa, president of supermarket distributor United Natural Foods, has partly attributed this rise in prices to higher demand from restaurants.
By Jaewon Kang Prices are rising as high demand runs up against constraints on the availability of goods and services across the U.S. economy. Price tags on consumer goods from processed meat to dishwashing products have risen by double-digit percentages from a year ago, according to NielsenIQ. Whirlpool Corp. freezers and dishwashers and Scotts Miracle-Gro Co. lawn and garden products are also getting costlier, the companies say. Some consumers are feeling stretched. Kaitlyn Vinson, a program manager in Denver, said her recent $275 bill at a Costco Wholesale Corp. store, which included razors and cotton pads on top of her typical grocery list, was more expensive than usual. Ms. Vinson said she switched from buying fresh to frozen fruit and vegetables because they are less expensive and last longer.
Image courtesy of iStock.
May 6, 2021
Chicken prices have more than doubled year to date, and wing prices have set new records on account of a shortage, according to Urner Barry, a market research firm, reported The Wall Street Journal.
Boneless skinless chicken breast averaged around $1 a pound last year and is now trading at $2.04 a pound, according to the researcher, while prices for jumbo wings have risen to a record $2.92 a pound.
United Natural Foods Inc., a supermarket distributor, has seen chicken prices increase on account of higher restaurant demand, according to Chris Testa, president.
One factor is chicken sandwich price wars among fast food chains including Wendy s, McDonald s and Popeyes Louisiana Chicken. More chains, including Burger King, plan to introduce chicken sandwiches