What United Natural Foods' Latest Earnings Report Tells Us About Its Future
In trading on Tuesday -- the day after the release of its fiscal fourth-quarter 2020 earnings report -- United Natural Foods (NYSE: UNFI) stock lost more than 14% of its value. Traders could be forgiven for taking some money off the table, as the company's shares had more than doubled year to date, and even after Tuesday's plunge, the stock is still up by 88% on the year. Profit-taking was catalyzed by the announcement that CEO Steve Spinner will retire on July 31, 2021 -- or perhaps sooner, depending on when his successor is named -- but he plans to continue on at UNFI in the role of executive chairman.
