United Natural Foods stock takes a 26% nose dive after concerns about Whole Foods loss
United Natural Foods Inc. UNFI, -27.46% stock fell 26.5% on Wednesday, en route to its largest-ever one-day percentage decline, after concerns were raised at CFRA about the permanent loss of the Whole Foods contract. Whole Foods Market is part of the Amazon.com Inc. AMZN, +0.11% portfolio. “[I]f United Natural’s contract with Whole Foods doesn’t get renewed by 2025, United Natural’s share price could plummet,” wrote CFRA’s Arun Sundaram in a note. United Natural reported a fiscal first-quarter earnings miss during the Wednesday premarket. United Natural shares are down 45.4% over the past year while the S&P 500 index SPX, +0.07% is up 19%.
As seen on www.marketplace.com, Written by Tonya Garcia