UNFI Hit by Unauthorized Activity, Slashes Sales Forecast
United Natural Foods (UNFI) has experienced an unauthorized activity on its internal networks, leading to a significant financial impact. The company has taken certain systems offline following the discovery on June 5, but the source of the activity remains unknown.
The unauthorized activity has resulted in a substantial revision to UNFI's fiscal 2025 net sales forecast. The company now expects a $350 million to $400 million hit, with annual adjusted profit projections lowered to between 40 cents and 80 cents. Previously, UNFI had estimated net sales of $31.3 billion to $31.7 billion and adjusted profits between 70 cents and 90 cents.
Despite the setback, UNFI has raised its annual net sales forecast to $31.6 billion to $31.8 billion. The company anticipates that insurance proceeds will cover the costs associated with the incident.
UNFI continues to investigate the unauthorized activity, but no search results have identified the trigger. The company has taken necessary measures to secure its systems and is working to mitigate the financial impact. UNFI's net sales and adjusted profit forecasts have been revised accordingly, with insurance expected to cover the incident's costs.
