Please join the Hedgeye Consumer Staples Team in an institutional Black Book presentation led by Howard Penney to discuss the addition of United Natural Foods (UNFI) to their Best Ideas List as a short.
KEY DISCUSSION POINTS
- Whole Foods (WFM) represents ~35% of UNFI's net sales - WFM announced on 2/8 that they are taking a harder look at growth and will likely pull square footage growth down over time as they focus on their current units and company-wide consumer centric initiatives.
- With WFM slowing unit growth, we believe other players in the industry will follow (SFM).
- The WFM category management initiative will be removing "slow moving SKUs" which are core to UNFI.
- Captive distribution will pressure the business.
- What are the potential implications of UNFI being tied to HAIN's questionable financial practices.
CALL DETAILS
If you are not a current subscriber to our Consumer Staples research there will be a fee associated with this call. Ping sales@hedgeye.com for more information.
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