United Natural Foods, Inc. (NYSE:UNFI) Q2 2023 Earnings Conference Call March 8, 2023 8:30 AM ET

Company Participants

Steve Bloomquist - Vice President, Investor Relations

Sandy Douglas - Chief Executive Officer

John Howard - Chief Financial Officer

Conference Call Participants

Anders Myhre - Guggenheim Securities

Mark Carden - UBS

Andrew Wolf - CL King

Leah Jordan - Goldman Sachs

Peter Saleh - BTIG

Krisztina Katai - Deutsche Bank

Ben Wood - BMO Capital

William Reuter - Bank of America

Scott Mushkin - R5 Capital

Operator

Good morning. My name is Audra, and I will be your conference operator today. At this time, I would like to welcome everyone to the UNFI Second Quarter Fiscal 2023 Earnings Call. Today's conference is being recorded. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions] At this time, I would like to turn the call over to Steve Bloomquist, Vice President, Investor Relations. Please go ahead.

Steve Bloomquist

Good morning, everyone, and thank you for joining us on UNFI's second quarter fiscal 2023 earnings conference call. By now you should have received a copy of the earnings release issued this morning. The press release and earnings presentation, which management will speak to are available under the Investors section of the company's website at www.unfi.com. We've also included a supplemental disclosure file in Microsoft Excel with key financial information.

Joining me for today's call are Sandy Douglas, our Chief Executive Officer; and John Howard, our Chief Financial Officer. Sandy and John will provide a business update, after which we'll take your questions.

Before we begin, I'd like to remind everyone that comments made by management during today's call may contain forward-looking statements. These forward-looking statements include plans, expectations, estimates, and projections that might involve significant risks and uncertainties. These risks are discussed in the company's earnings release and SEC filings. Actual results may differ materially from the results discussed in these forward-looking statements.

And lastly, I'd like to point out that during today's call management will refer to certain non-GAAP financial measures. Definitions and reconciliations to the most comparable GAAP financial measures are included in our press release and the end of our earnings presentation.

I'd ask you to now turn to Slide 6 of our presentation as I turn the call over to Sandy.

Sandy Douglas

Thanks Steve, and good morning everyone. We appreciate you joining us for our second quarter call. As you've seen in our release, this was a challenging quarter for UNFI. Before I turn it over to John to share more details on our financial results and our expectations for the rest of the year, let me address our performance directly by explaining what happened? How it happened? What we're doing about it? And how it informs our strategic and operational thinking about the company going forward?