- Grocery suppliers are not likely to reach pre-COVID-19 stock levels again until the fall, said food distributor and grocery operator United Natural Foods (UNFI) CEO Steve Spinner on a Wednesday earnings call.
- Pantry-loading and closed restaurants have created unseasonal demand for grocery stores and suppliers are struggling to catch-up. "The fill rate is certainly the lowest that I've ever experienced by or seen by 1,000 plus basis points," said Spinner.
- Stockouts and low stock levels are hampering UNFI's sales, Spinner said. Still, net sales increased 12% year-over-year in the quarter ending May 2.