US Foods' profit grows in second quarter

ROSEMONT - US Foods Holding Corp. announced financial results of its fiscal year second quarter, including a 15.2% increase in net sales to $8.8 billion and an 18.3% increase in gross profit to $1.4 billion, as compared to the same quarter last year.

"Our results this quarter demonstrate significant progress on the execution of our long-range plan," said Interim CEO Andrew Iacobucci. "Our strategic initiatives are driving results as we grew market share with gains in key customer types, implemented key supply chain initiatives to improve service levels, and expanded our omnichannel strategy with continued CHEF'STORE growth."

Key drivers for the increase in profit included optimized pricing, increased freight income from improved inbound logistics, and cost of goods sold optimization. Food cost inflation in multiple product categories also contributed to increased gross profit, the company said.