UNFI Raises Sales Forecast Despite $350M Network Breach Impact
United Natural Foods (UNFI) has revised its financial outlook for the year. The company now expects a significant impact on its net sales due to an unauthorized activity on its internal networks, discovered on June 5. Despite this, UNFI has raised its annual net sales forecast.
UNFI has reduced its annual adjusted profit forecast to between 40 cents and 80 cents per share. This revision follows the discovery of the unauthorized activity, which is expected to result in a $350 million to $400 million hit to its fiscal 2025 net sales. In response, UNFI took certain systems offline to contain the issue.
Despite this setback, UNFI has raised its annual net sales forecast to a range of $31.6 billion to $31.8 billion. This reflects the company's strong year-to-date performance. UNFI anticipates that insurance proceeds will cover the costs associated with the incident.
UNFI's financial outlook for the year has been revised due to an unauthorized activity on its internal networks. While the company expects a significant impact on its net sales, it has also raised its annual net sales forecast. UNFI is confident that insurance proceeds will cover the incident's costs.
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