Providence, Rhode Island-based United Natural Foods Inc. unveiled its new growth strategy, outlining the pillars of its “Fuel the Future” plan.
The “Fuel the Future” plan focuses on increasing market share through network optimization, stronger innovation and an enhanced customer experience during the company’s virtual investor day event.
“UNFI has built a tremendous customer base, we have amazing associates and we’re truly excited by our Fuel the Future strategy, which will help guide the next chapter of our growth,” said UNFI Chairman and CEO Steven Spinner. “I’m proud of all the work and success we’ve had under our prior Build-out-the-Store strategy, which widely expanded our offerings and strengthened our core business. Our new plan builds off that work, elevating us to the next level and focusing our efforts on making our customers stronger, our supply chain better and our food solutions more inspired.”
During the investor event, members of UNFI’s leadership team shared details of Fuel the Future, composed of six pillars that work together to deliver the “FUTURE” by advancing key areas of the UNFI business. Highlights of the plan include:
- Fulfill Power in Scale – optimizing UNFI’s far-reaching distribution network, maximizing capacity and simplifying operations with higher levels of standardization and making investments in technology;
- Unlock Customer Experience – expanding the company’s portfolio of brands, products and services while offering more tailored solutions to help UNFI’s customers grow;
- Taste the Future – investing in existing, high-margin growth platforms such as Brands+, services, e-commerce and Fresh, as well as developing new sources of revenue that further complement UNFI’s core wholesale business;
- UNFI Pride – focusing on UNFI’s people to deliver on: UNFI’s core value of safety in the workplace, as well as continuing our unique culture and enhancing the overall associate experience; embracing and growing diversity of background, thought and approach; and UNFI’s bold commitments toward climate change and food insecurity and injustice, among others;
- Retail Optimization – advancing the retail business through greater investment in store upgrades, e-commerce and digital platforms combined with new sites that will contribute to growth; and
- Earn Results – driving sustainable growth and stakeholder value, with the Fuel the Future plan helping deliver fiscal 2024 financial results, which are expected to include sales of over $30 billion; adjusted EBITDA of over $900 million; and earnings per share (EPS) of over $5.25.
Presenters at the UNFI 2021 Investor Day virtual event were: Chairman and CEO Steve Spinner, President Chris Testa, COO Eric Dorne, CFO John Howard, CMO Amanda Helming, Cub CEO Mike Stigers, Director of Sustainability and Social Impact Alisha Real and VP of Diversity Guillaume Bagal.
A replay of the entire event is available at the investor section of UNFI’s website at: UNFI.com.
The original article can be found at The Shelby Report.