United Natural Foods
21 named things its latest annual report says its results depend on, each in the company's own words. 13 of them are also named by other companies we've read.
Customers
Other companies
Collective bargaining agreements (unionized workforce)
11,341 of our 23,431 employees (approximately 48%)named as a riskAs of August 1, 2026, 11,341 of our 23,431 employees (approximately 48%) were covered by 64 collective bargaining agreements, including existing agreements under negotiation, which expire through May 16, 2031.Risk factors (Item 1A)
Also named by APG, BALL, CAG, CARR, HLT, HSY, IEX, KR and 10 more
ABL Credit Facility
$2,530 millionnamed as a riskOur debt agreements, including the loan agreement (the “ABL Loan Agreement”) related to our $2,530 million asset-based revolving credit facility (the “ABL Credit Facility”) entered into in April 2026, and the term loan agreement (the “Term Loan Agreement”) related to our $500 million term loan facility (the “Term Loan Facility”) entered into in October 2018, as amended, and the indenture governing our $500 million of unsecured 6.750% Senior Notes due October 15, 2028 (the “Senior Notes”) contain financial covenants and other restrictions that limit our operating flexibility and our flexibility in planning for or reacting to changes in our business.Risk factors (Item 1A)
Cub Foods and Shoppers
operates in · 65 Cub Foods and Shoppers retail grocery storesAs of August 1, 2026, our Retail segment included 65 Cub Foods and Shoppers retail grocery stores.Business (Item 1)
Places
Hazards
June 2025 cybersecurity incident
named as a riskAs previously disclosed, in June 2025, we experienced a cybersecurity incident, which resulted in reduced sales volume and increased operational costs and negatively impacted our results of operations for the fourth quarter of fiscal 2025.Cybersecurity (Item 1C)
Western U.S. wildfires and drought
named as a riskFor example, in the past, weather patterns or events, such as lower than average levels of precipitation in key agricultural states or wildfires in the West, have affected prices of food products of certain of our suppliers.Risk factors (Item 1A)
Commodities and inputs
SOFR
exposed to its price · approximately $4 millionnamed as a riskAs of August 1, 2026, we estimate that a 100-basis point increase in the interest rates related to our variable rate borrowings would increase our annualized interest expense by approximately $4 million, net of the floating interest rate receivable on our interest rate swaps.Market risk (Item 7A)
Also named by AAP, AIOT, APG, APH, ARES, AXON, BGC, BR and 82 more
Diesel fuel
exposed to its pricenamed as a riskHigher costs for diesel fuel can increase the price we pay for products as well as the costs we incur to deliver products to our customers, including costs of inbound goods from our suppliers.Risk factors (Item 1A)
Also named by ADM, BLDR, BTU, CAH, CHD, CHRW, COST, CP and 43 more
Organic bulk products (nuts, seeds, grains)
depends onWe have positioned ourselves as one of the largest purchasers of organically grown bulk products in the natural and organic products industry by centralizing our purchase of nuts, seeds, grains, flours and dried foods.Business (Item 1)
Regulators
U.S. Department of Transportation
subject toOur United States trucking operations are subject to regulation by the United States Department of Transportation and the United States Federal Highway Administration.Risk factors (Item 1A)
Also named by ACHR, AESI, ALK, BLDR, CHRW, CTAS, DAL, EXPE and 19 more
Laws and programs
SUPERVALU INC. Retirement Plan
$141 millionnamed as a riskAs of August 1, 2026, a 10% unfavorable change in the total value of investments held by the SUPERVALU INC. Retirement Plan (entirely within the return-seeking portion of the plan assets) would not have had an impact on our minimum contributions required under ERISA for fiscal 2026, but would have resulted in an unfavorable change in net periodic pension income for fiscal 2027 of $2 million and would have reduced Stockholders’ equity by $141 million on a pre-tax basis as of August 1, 2026.Market risk (Item 7A)
USDA National Organic Program
subject to · 33 Organic Handler certificationsAcross our United States distribution center network, QAI has issued 33 Organic Handler certifications under the USDA National Organic Program.Business (Item 1)
Payment Card Industry Data Security Standard (PCI DSS)
subject tonamed as a riskAs a merchant that accepts debit and credit cards for payment, we are subject to the Payment Card Industry Data Security Standard (“PCI DSS”), issued by the PCI Council.Risk factors (Item 1A)
Also named by ABNB, AZO, BJ, BKNG, CASH, CASY, COST, DOV and 20 more
Multiemployer pension plans
named as a riskIf a withdrawal were to occur for any reason, the withdrawal liability from our multiemployer plans could be material, our efforts to mitigate these liabilities may not be successful, and potential exposure to withdrawal liabilities could cause us to forgo or negatively impact our ability to enter into other business opportunities.Risk factors (Item 1A)
Also named by ECG, IBP, LYV, MDLZ, NYT, PWR, RSG, STRL and 3 more
Tariffs on imported goods
subject tonamed as a riskIn addition, increased costs of imported goods, including due to tariffs, import restrictions, global conflict or otherwise, may reduce customer demand for affected products if the parties experiencing those increased costs increase their prices.Risk factors (Item 1A)
Controlled Substances Act
subject tonamed as a riskFor example, in 2019, the Company settled with the Drug Enforcement Administration alleged violations of the Controlled Substances Act relating to an administrative subpoena received by Supervalu that requested, among other things, information on the Company’s pharmacy policies and procedures generally, as well as the production of documents that are required to be kept and maintained pursuant to the Controlled Substances Act and its accompanying regulations.Risk factors (Item 1A)
Perishable Agricultural Commodities Act
subject toFor meat-based and produce product lines, we are also subject to the Federal Meat Inspection Act, the Poultry Products Inspection Act, the Perishable Agricultural Commodities Act, the Packers and Stockyard Act and regulations promulgated by the USDA to interpret and implement these statutory provisions.Business (Item 1)
FDA Food Safety Modernization Act (FSMA)
subject toThe FDA Food Safety Modernization Act (“FSMA”) in the United States (administered by the FDA) and the Safe Foods for Canadians Act in Canada (administered by the Canadian Food Inspection Agency) have expanded food safety requirements across the food supply chain and, among other things, impose additional regulations focused on prevention of food contamination, more frequent inspection of high-risk facilities, increased record-keeping and improved tracing of food.Business (Item 1)
Technology
ERP system implementation
depends onnamed as a riskWe are in the process of a multi-year implementation of a new enterprise resource planning (“ERP”) system, which has required, and will continue to require, the investment of significant personnel and financial resources over the duration of the project.Risk factors (Item 1A)
GLP-1 weight-loss drugs
named as a riskConsumer habits could be affected by a number of factors, including changes in disposable income levels, which may be impacted by a number of factors, including a reduction in the level of government spending that supports grocery purchases, changes in product prices or other macro trends, changes in behavior arising from the increased use of pharmaceutical weight-loss therapies such as GLP-1, an increase in food-away-from home options, changes in attitudes regarding benefits of natural and organic products when compared to similar lower margin conventional products, new information regarding the health effects of consuming certain foods.Risk factors (Item 1A)