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Unified Grocers Inc. has posted net sales of $17.9 million for its first quarter of fiscal 2015 ended Dec. 27, 2014, an increase of 1.9 percent from the year-ago.
According to President/CEO Bob Ling, the sales boost reflects the ongoing improvements in the company's core wholesale distribution business, which he said is "performing well," adding that the quarter's results "demonstrate the company's strong fundamentals and the health of our retail customers."
Unified reported a Q1 net loss of $1.2 million, however, driven by a one-time charge of $3.2 million, incurred in connection with the company's debt refinancing in December and the payoff of fixed rates notes.
"Last year was all about turning around the business and establishing positive momentum, and this year we're focused on continuing that trend," Ling said.
Unified has also signed on as the primary supplier for Haggen stores that the retailer acquired as a result of the Alberstons-Safeway merger. "The new business with Haggen in California, Arizona, Nevada, Oregon and Washington will be reflected in our results later in the year, and we are pursuing a number of other growth initiatives," Ling added.
Los Angeles-based Unified Grocers supplies independent retailers throughout the western United States.