US Foods first quarter sales up 24%

ROSEMONT - US Foods Holding Corp. reported net sales of $7.8 billion for its fiscal year first quarter, an increase of 23.9% from the prior year, driven by higher total case volume and food cost inflation of 17.3% compared to the same quarter a year ago.

Gross profit was $1.2 billion, an increase of 19.1% from the prior year period.

Operating expenses of $1.2 billion increased $186 million, or 19.1% from the prior year. Operating expenses increased primarily due to greater volume and higher distribution costs, in part due to higher temporary labor costs and higher than normal wage inflation, the company said.

"Our results this quarter are a promising affirmation of our progress in implementing our long-range plan to profitably grow market share, further optimize gross margins and improve operational efficiencies," said Executive Chairman Bob Dutkowsky.

Rosemont-based US Foods is one of the largest food service distributors in the United States.