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June 18, 2014
14:09 EDTSWY, UNFIUnited Natural Foods announces verbal agreement with Safeway
United Natural Foods (UNFI) disclosed that during an investor presentation today, its CFO Mark Shamber commented that United Natural has reached a verbal agreement with Safeway (SWY), its largest conventional supermarket customer, to renew its current distribution agreement which was scheduled to expire in September. Shamber also commented that the company has agreed to terms on a distribution agreement with Schnucks Markets, a new customer for the company that is a regional conventional supermarket chain with approximately 100 stores in five states throughout the Midwestern United States. United Natural anticipates the written agreements for both the renewed relationship with Safeway and the new relationship with Schnucks will be finalized during the current fiscal quarter. As a result of the anticipated agreements with Safeway and Schnucks, the company expects to generate approximately $425M in combined net sales with these two customers in FY15. The amount of expected net sales from the two customers in FY15 is not in addition to the company's net sales to Safeway in FY14.
News For UNFI;SWY From The Last 14 Days
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April 24, 2015
06:52 EDTUNFIStarbucks report bodes well for United Natural Foods, says Piper Jaffray
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April 20, 2015
15:16 EDTSWYGreenlight starts new GM long position, rolls Lorillard short bet to Reynolds
David Einhorn's Greenlight Capital hedge fund said in its latest quarterly letter to investors that it had established new long positions in General Motors (GM), Chicago Bridge & Iron (CBI) and AerCap Holdings (AER) last quarter. WHAT'S NEW: Greenlight believes GM should benefit from low gas prices, low raw material costs, and its decision to launch share buybacks, Greenlight stated. GM has an excellent chance of beating 2015 EPS expectations, added the firm. Einhorn's group said they found the valuation of Chicago Bridge and Iron, an engineering and construction company with significant exposure to energy, attractive following the stock's decline. Although energy prices may stay low for some time, the company has a significant backlog that should support its earnings for several years, Greenlight stated. Additionally, the market is overestimating how much of the cost overruns for two nuclear energy projects with be shouldered by the company, Greenlight contended. AerCap, the largest publicly traded aircraft leasing company, bought AIG's (AIG) aircraft leasing business last year at a bargain price, Greenlight stated. The combined business will benefit from AerCap's low tax rate, as well as efficiencies, the hedge fund believes. WHAT'S NOTABLE: Greenlight exited its short position in Lorillard (LO). Greenlight noted that it has rolled its short bet on Lorillard into a fresh position in Reynolds American (RAI), since it still believes that the FDA is gearing up to do "something major" in terms of regulation of menthol cigarettes, but is moving "slowly and deliberately" because it anticipates an extremely aggressive industry response. The firm also exited two other short positions because the companies agreed to takeovers: Safeway (SWY) and Freescale Semiconductor (FSL), which has agreed to sell itself to NXP Semicondictors (NXPI).
09:32 EDTUNFIUnited Natural Foods downgraded to Neutral from Buy at Cleveland Research
Cleveland Research downgraded United Natural Foods to Neutral on slowing sales growth and limited visibility for a re-acceleration.
April 13, 2015
14:18 EDTSWYTarget names Anne Dament as SVP, Merchandising
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