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Why United Natural Foods Stock Crashed 16% Today

TheMotleyFool

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Why United Natural Foods Stock Crashed 16% TodayPhoto, wide shot, wide-angle lens, Home appliance manufacturer, neutral atmosphere, photo by Joe Cornish: https://img.theapi.app/temp/fb3845ac-e3c6-43ef-86c1-b57ed8c272c4.png

Shares of United Natural Foods (NYSE: UNFI) tumbled 16.4% through 12:15 p.m. ET on Wednesday after the grocery wholesaler and retailer missed badly on third-quarter earnings -- and followed up that miss with an earnings warning.

Heading into its fiscal Q3, analysts had forecast that United Natural Foods would earn $0.68 per share in adjusted income on sales of $7.5 billion. United Natural actually came within a whisker of hitting that sales target, but earnings whiffed entirely, coming in at only $0.54 per share.

Bad as that already sounds, it gets worse.

Source Fool.com

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