United Foods FY 3Q17 Earnings Call Notes

Steve Spinner – Chairman & CEO

We continue to experience deflation

“We continue to experience deflation, which was negative 17 basis points excluding Haddon House during the quarter. Deflation in produce was around 2%. This was an improvement from the second quarter; however, reflects a headwind compared to the year ago period when we had inflation of 1.25%. The general lack of inflation also caused what we believe to be a short-term pressure on gross margin dollars”

Deflation has continued but it has moderated

” Although industry headwinds have not abated, we see some reasons for cautious optimism. Deflation has continued but is moderated.”