Law Offices of Howard G. Smith announces an investigation on behalf of United Natural Foods, Inc. (“United Natural Foods” or the “Company”) (NYSE: UNFI) investors concerning the Company’s possible violations of federal securities laws.
On March 8, 2023, United Natural Foods released its second quarter fiscal year 2023 results, missing consensus estimates, reducing its profitability expectations for fiscal 2023, and withdrawing its fiscal 2024 forecasts. The Company explained that “profits were challenged as we did not repeat the significant level of procurement gains from rapidly accelerating inflation and inventory gains, due to supply chain volatility, that we experienced in the second quarter of last year.”
On this news, the Company’s stock price fell $11.49, or 28.1%, to close at $29.47 per share on March 8, 2023, thereby injuring investors.
If you purchased United Natural Foods securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20230310005121/en/
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
