United Natural Foods (UNFI) 10-Q 8 Mar 18 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jan. 27, 2018	Mar. 05, 2018
Document and Entity Information
Entity Registrant Name	UNITED NATURAL FOODS INC
Entity Central Index Key	1,020,859
Current Fiscal Year End Date	--07-28
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Jan. 27, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		50,409,083

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jan. 27, 2018	Jul. 29, 2017
Current assets:
Cash and cash equivalents	$ 25,401	$ 15,414
Accounts receivable, less allowances of $19,784 and $13,939	629,362	525,636
Inventories	1,140,928	1,031,690
Deferred income taxes	0	40,635
Prepaid expenses and other current assets	61,481	49,295
Total current assets	1,857,172	1,662,670
Property & equipment, net	578,053	602,090
Other assets:
Goodwill	363,841	371,259
Intangible assets, less accumulated amortization of $59,712 and $49,926	200,831	208,289
Other assets	49,783	42,255
Total assets	3,049,680	2,886,563
Current liabilities:
Accounts payable	627,085	534,616
Accrued expenses and other current liabilities	159,301	157,243
Current portion of long-term debt	12,322	12,128
Total current liabilities	798,708	703,987
Notes payable	287,039	223,612
Deferred income taxes	36,257	98,833
Other long-term liabilities	29,140	28,347
Long-term debt, excluding current portion	143,796	149,863
Total liabilities	1,294,940	1,204,642
Commitments and contingencies
Stockholders’ equity:
Preferred stock, par value $0.01 per share, authorized 5,000 shares; issued none	0	0
Common stock, par value $0.01 per share, authorized 100,000 shares; 50,972 shares issued and 50,408 shares outstanding at January 27, 2018, 50,622 shares issued and outstanding at July 29, 2017	510	506
Additional paid-in capital	471,118	460,011
Treasury Stock, Common, Value	(22,237)	0
Accumulated other comprehensive loss	(10,204)	(13,963)
Retained earnings	1,315,553	1,235,367
Total stockholders’ equity	1,754,740	1,681,921
Total liabilities and stockholders’ equity	$ 3,049,680	$ 2,886,563

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Jan. 27, 2018	Jul. 29, 2017
Statement of Financial Position [Abstract]
Accounts receivable, allowance (in dollars)	$ 19,784	$ 13,939
Intangible assets, accumulated amortization (in dollars)	$ 59,712	$ 49,926
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized shares	5,000	5,000
Preferred stock, issued shares	0	0
Preferred stock, outstanding shares	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized shares	100,000	100,000
Common stock, issued shares	50,972	50,622
Common stock, outstanding shares	50,408	50,622

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 27, 2018	Jan. 28, 2017	Jan. 27, 2018	Jan. 28, 2017
Income Statement [Abstract]
Net sales	$ 2,528,011	$ 2,285,518	$ 4,985,556	$ 4,563,882
Cost of sales	2,156,489	1,940,573	4,246,818	3,869,921
Gross profit	371,522	344,945	738,738	693,961
Operating expenses	320,076	298,674	632,185	594,351
Restructuring and asset impairment expenses	11,242	0	11,242	0
Total operating expenses	331,318	298,674	643,427	594,351
Operating income	40,204	46,271	95,311	99,610
Other expense (income):
Interest expense	4,233	4,441	7,900	8,963
Interest income	(96)	(97)	(187)	(196)
Other expense (income), net	(418)	(101)	(1,281)	282
Total other expense, net	3,719	4,243	6,432	9,049
Income before income taxes	36,485	42,028	88,879	90,561
Provision for income taxes (benefit)	(14,001)	16,546	7,888	35,862
Net income	$ 50,486	$ 25,482	$ 80,991	$ 54,699
Basic per share data:
Net income (usd per share)	$ 1	$ 0.50	$ 1.60	$ 1.08
Weighted average basic shares of common stock outstanding	50,449	50,587	50,633	50,531
Diluted per share data:
Net income (usd per share)	$ 0.99	$ 0.50	$ 1.59	$ 1.08
Weighted average diluted shares of common stock outstanding	50,741	50,755	50,849	50,677

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 27, 2018	Jan. 28, 2017	Jan. 27, 2018	Jan. 28, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 50,486	$ 25,482	$ 80,991	$ 54,699
Other comprehensive income (loss):
Fair value of swap agreements, net of tax	2,256	3,483	2,920	5,078
Foreign currency translation adjustments	3,045	1,281	839	(620)
Total other comprehensive income	5,301	4,764	3,759	4,458
Total comprehensive income	$ 55,787	$ 30,246	$ 84,750	$ 59,157

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive (Loss) Income	Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury Stock, Common, Value	$ 0
Beginning Balance (shares) at Jul. 29, 2017	50,622,000	50,622,000
Beginning Balance at Jul. 29, 2017	$ 1,681,921	$ 506	$ 460,011	$ (13,963)	$ 1,235,367
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock option exercises and restricted stock vestings, net of tax		350,000
Stock option exercises and restricted stock vestings, net of tax	(4,156)	$ 4	(4,160)
Share-based compensation	$ 13,846		13,846
Treasury Stock, Shares, Acquired	564,660
Treasury Stock, Value, Acquired, Cost Method	$ (22,237)
Adjustments to Additional Paid in Capital, Other	107
Fair value of swap agreements, net of tax	2,920			2,920
Foreign currency translation adjustments	839			839
Net income	$ 80,991				80,991
Ending Balance (shares) at Jan. 27, 2018	50,408,000	50,972,000
Ending Balance at Jan. 27, 2018	$ 1,754,740	$ 510	$ 471,118	$ (10,204)	$ 1,315,553
Treasury Stock, Shares	565,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury Stock, Common, Value	$ (22,237)

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jan. 27, 2018	Jan. 28, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 80,991	$ 54,699
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation and amortization	44,249	42,458
Share-based compensation	13,846	14,011
Loss on disposals of property and equipment	100	395
Gain associated with disposal of investments	699	0
Excess tax deficit from share-based payment arrangements	0	1,413
Restructuring and asset impairment	3,370	0
Goodwill impairment	7,872	0
Deferred income taxes	(22,733)	0
Provision for doubtful accounts	5,569	3,217
Non-cash interest expense (income)	956	(24)
Changes in assets and liabilities, net of acquired businesses:
Accounts receivable	(109,097)	(26,140)
Inventories	(108,979)	30,759
Prepaid expenses and other assets	(13,508)	(20,514)
Accounts payable	60,636	9,363
Accrued expenses and other liabilities	2,308	(12,728)
Net cash (used in) provided by operating activities	(35,119)	96,909
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(15,535)	(22,674)
Purchase of businesses, net of cash acquired	(19)	(9,982)
Proceeds from disposals of property and equipment	36	18
Proceeds from disposal of investments	756	0
Long-term investment	(3,010)	(2,000)
Net cash used in investing activities	(17,772)	(34,638)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of long-term debt	(6,054)	(5,658)
Payments for Repurchase of Common Stock	(22,237)	0
Proceeds from borrowings under revolving credit line	311,061	136,787
Repayments of borrowings under revolving credit line	(247,632)	(169,618)
Increase (decrease) in bank overdraft	31,708	(9,076)
Proceeds from exercise of stock options	268	165
Payment of employee restricted stock tax withholdings	(4,424)	(1,191)
Excess tax deficit from share-based payment arrangements	0	(1,413)
Capitalized debt issuance costs	0	(180)
Net cash provided by (used in) financing activities	62,690	(50,184)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	188	(22)
NET INCREASE IN CASH AND CASH EQUIVALENTS	9,987	12,065
Cash and cash equivalents at beginning of period	15,414	18,593
Cash and cash equivalents at end of period	25,401	30,658
Supplemental disclosures of cash flow information:
Cash paid for interest	7,900	8,963
Cash paid for federal and state income taxes, net of refunds	$ 36,929	$ 45,944

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jan. 27, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	SIGNIFICANT ACCOUNTING POLICIES (a) Nature of Business United Natural Foods, Inc. and its subsidiaries (the “Company”) is a leading distributor and retailer of natural, organic and specialty products. The Company sells its products primarily throughout the United States and Canada. (b) Basis of Presentation The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany transactions and balances have been eliminated in consolidation. The accompanying unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC") for interim financial information, including the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, certain information and note disclosures normally required in complete financial statements prepared in conformity with accounting principles generally accepted in the United States have been condensed or omitted. In the Company’s opinion, these condensed consolidated financial statements include all adjustments necessary for a fair presentation of the financial position, results of operations and cash flows for the interim periods presented. The results of operations for interim periods, however, may not be indicative of the results that may be expected for a full year. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended July 29, 2017 . Net sales consist primarily of sales of natural, organic and specialty products to retailers, adjusted for customer volume discounts, returns, and allowances. Net sales also include amounts charged by the Company to customers for shipping and handling and fuel surcharges. The principal components of cost of sales include the amounts paid to suppliers for product sold, plus the cost of transportation necessary to bring the product to the Company’s distribution facilities, offset by consideration received from suppliers in connection with the purchase or promotion of the suppliers' products. Cost of sales also includes amounts incurred by the Company’s manufacturing subsidiary, United Natural Trading LLC, which does business as Woodstock Farms Manufacturing, for inbound transportation costs offset by consideration received from suppliers in connection with the purchase or promotion of the suppliers’ products. Operating expenses include salaries and wages, employee benefits, warehousing and delivery, selling, occupancy, insurance, administrative, share-based compensation and amortization expense. Operating expenses also include depreciation expense related to the wholesale and retail divisions. Other expense (income) includes interest on outstanding indebtedness, including the financing obligation related to our Aurora, Colorado distribution center and the lease for office space for our corporate headquarters in Providence, Rhode Island, interest income and miscellaneous income and expenses. As noted above, the Company includes shipping and handling fees billed to customers in net sales. Shipping and handling costs associated with inbound freight are generally recorded in cost of sales, whereas shipping and handling costs for selecting, quality assurance, and outbound transportation are recorded in operating expenses. Outbound shipping and handling costs, including allocated employee benefit expenses, totaled $146.4 million and $129.0 million for the second quarter of fiscal 2018 and 2017, respectively. Outbound shipping and handling costs, including allocated employee benefit expenses, totaled $284.4 million and $255.9 million for the first 26 weeks of fiscal 2018 and 2017 , respectively.

RECENTLY ISSUED ACCOUNTING PRON

RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS	6 Months Ended
	Jan. 27, 2018
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS	RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS In December 2017, the United States ("U.S.") government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act of 2017 (the “TCJA”). The SEC staff issued Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cut and Jobs Act ("SAB 118"), which provides guidance on accounting for the tax effects of the TCJA. Refer to Note 8, Income Taxes, for disclosure regarding the Company’s implementation of SAB 118. In August 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities, which changes the recognition and presentation requirements of hedge accounting, including eliminating the requirement to separately measure and report hedge ineffectiveness and presenting all items that affect earnings in the same income statement line item as the hedged item. The ASU also provides new alternatives for applying hedge accounting to additional hedging strategies, measuring the hedged item in fair value hedges of interest rate risk, reducing the cost and complexity of applying hedge accounting by easing the requirements for effectiveness testing, hedge documentation and application of the critical terms match method and reducing the risk of a material error correction if a company applies the shortcut method inappropriately. This ASU is effective for public companies in fiscal years beginning after December 15, 2018, which for the Company will be the first quarter of the fiscal year ending August 1, 2020, with early adoption permitted. We are currently reviewing the provisions of the new standard and evaluating its impact on the Company's consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting , which is intended to improve the accounting for share-based payment transactions as part of the FASB's simplification initiative. This ASU has changed aspects of accounting for share-based payment award transactions including accounting for income taxes, the classification of excess tax benefits and the classification of employee taxes paid when shares are withheld for tax-withholding purposes on the statement of cash flows, forfeitures, and minimum statutory tax withholding requirements. The Company adopted the new standard in the first quarter of fiscal 2018. Accordingly, the Company will account for excess tax benefits or tax deficiencies related to share-based payments in its provision for income taxes as opposed to additional paid-in capital. The Company recognized a de minimis amount of income tax expense related to tax deficiencies for share-based payments for the 13-week period ended January 27, 2018 and $0.9 million of income tax expense related to tax deficiencies for share-based payments for the 26-week period ended January 27, 2018 . In addition, the Company elected to account for forfeitures as they occur and recorded a cumulative adjustment to retained earnings and additional paid-in capital as of July 30, 2017, the first day of fiscal 2018, of approximately $0.8 million and $1.3 million , respectively. In February 2016, the FASB issued ASU No. 2016-2, Leases (Topic 842) . The objective of this ASU is to establish the principles that lessees and lessors shall apply to report useful information to users of financial statements about the amount, timing, and uncertainty of cash flows arising from a lease. Lessees are permitted to make an accounting policy election to not recognize the asset and liability for leases with a term of twelve months or less. In addition, this ASU expands the disclosure requirements of lease arrangements. This ASU will require the Company to recognize most current operating lease obligations as right-of-use assets with a corresponding liability based on the present value of future operating leases, which the Company believes will result in a significant impact to its consolidated balance sheets. Lessees and lessors will use a modified retrospective transition approach, which includes a number of practical expedients. The ASU is effective for public companies with interim and annual periods in fiscal years beginning after December 15, 2018, which for the Company will be the first quarter of the fiscal year ending August 1, 2020, with early adoption permitted. The Company expects to adopt this standard in the first quarter of fiscal 2020 and has begun an initial assessment plan to determine the impacts of this ASU on the Company's consolidated financial statements and any necessary changes to our accounting policies, processes and controls, and, if required, our systems. In November 2015, the FASB issued ASU No. 2015-17, Balance Sheet Classification of Deferred Taxes , which requires entities with a classified balance sheet to present all deferred tax assets and liabilities as noncurrent. The new pronouncement is effective for public companies with annual periods, and interim periods within those annual periods, beginning after December 15, 2016, which for the Company was the first quarter of fiscal 2018. The Company adopted this guidance on a prospective basis in the first quarter of fiscal 2018 and it resulted in a reclassification from current deferred income tax assets to noncurrent deferred income tax liabilities of $40.6 million . All future adjustments will be reported as noncurrent. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers, (Topic 606) , which has been updated by multiple amending ASUs and supersedes existing revenue recognition requirements. The core principle of the new guidance is that an entity will recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Additionally, the ASU requires new, enhanced quantitative and qualitative disclosures related to the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The collective guidance is effective for public companies with annual periods, and interim periods within those periods, beginning after December 15, 2017, which for the Company will be the first quarter of the fiscal year ending August 3, 2019. The new standard permits either of the following adoption methods: (i) a full retrospective application with restatement of each period presented in the financial statements with the option to elect certain practical expedients, or (ii) a retrospective application with the cumulative effect of adopting the guidance recognized as of the date of initial application (“modified retrospective method”). The Company will adopt this new guidance in the first quarter of fiscal 2019 and preliminarily expects to use the modified retrospective method. The Company's evaluation of the impact of the adoption of the ASU on the consolidated financial statements, footnote disclosures and accounting policies is ongoing and the impact cannot be reasonably estimated at this time. The Company continues to progress through its implementation plan and expects to complete its impact assessment in the third quarter of fiscal 2018. As part of our assessment work to-date, we have completed our scoping of revenue streams, began reviewing contracts with customers and began documenting the impacts of the ASU on our wholesale distribution and other segments. After we have finalized our assessment, we will implement new policies, processes and controls to support revenue recognition under the new standard throughout the remainder of fiscal 2018.

ACQUISITIONS ACQUISITIONS (Note

ACQUISITIONS ACQUISITIONS (Notes)	6 Months Ended
	Jan. 27, 2018
Business Combinations [Abstract]
ACQUISITIONS [Text Block]	ACQUISITIONS Wholesale Segment - Wholesale Distribution Acquisition Gourmet Guru, Inc. On August 10, 2016, the Company acquired all of the outstanding equity securities of Gourmet Guru, Inc. ("Gourmet Guru"). Gourmet Guru is a distributor and merchandiser of fresh and organic food focusing on new and emerging brands. Total cash consideration related to this acquisition was approximately $10.0 million . The fair value of identifiable intangible assets acquired was determined by using an income approach. The identifiable intangible asset recorded based on a provisional valuation consisted of customer lists of $1.0 million , which are being amortized on a straight-line basis over an estimated useful life of approximately two years. During the first quarter of fiscal 2018, the Company recorded an increase to goodwill of approximately $0.2 million with a decrease to prepaid expenses. The goodwill of $10.3 million represents the future economic benefits expected to arise that could not be individually identified and separately recognized. During the first quarter of fiscal 2018, the Company finalized its purchase accounting related to the Gourmet Guru acquisition. Operations have been combined with the Company's existing wholesale distribution business and therefore results are not separable from the rest of the wholesale distribution business. The Company has not furnished pro forma financial information relating to this acquisition as such information is not material to the Company's financial results.

RESTRUCTURING ACTIVITIES AND AS

RESTRUCTURING ACTIVITIES AND ASSET IMPAIRMENTS	6 Months Ended
	Jan. 27, 2018
Restructuring and Related Activities [Abstract]
Restructuring and Related Activities Disclosure [Text Block]	RESTRUCTURING ACTIVITIES AND ASSET IMPAIRMENTS 2018 Earth Origins Market. During the second quarter of fiscal 2018, the Company recorded restructuring and asset impairment expenses of $11.4 million related to the Company's Earth Origins Market retail business. The Company made the decision in the second quarter of fiscal 2018 to close three non-core, under-performing stores of its total twelve stores which resulted in restructuring costs of $0.2 million related to severance and closure costs. Based on the decision to close these stores, coupled with the decline in results in the first half of fiscal 2018 and the future outlook as a result of competitive pressure, the Company determined that both a test for recoverability of long-lived assets and a goodwill impairment analysis should be performed. The determination of the need for a goodwill analysis was based on the assertion that it was more likely than not that the fair value of the reporting unit was below its carrying amount. As a result of both these analyses, the Company recorded a total impairment charge of $3.3 million on long-lived assets and $7.9 million to goodwill, respectively. Both of these charges are recorded in the Company's "Other" segment. The Company expects to incur additional restructuring charges primarily related to future exit costs of approximately $2.6 million during the second half of fiscal 2018. 2017 Cost Saving and Efficiency Initiatives. During fiscal 2017, the Company announced a restructuring program in conjunction with various cost saving and efficiency initiatives, including the planned opening of a shared services center. The Company recorded total restructuring costs of $6.9 million during the fiscal year ended July 29, 2017, all of which was recorded in the second half of fiscal 2017. Of the total restructuring costs recorded, $6.6 million was primarily related to severance and other employee separation and transition costs and $0.3 million was due to an early lease termination and facility closing costs for the Company's Gourmet Guru facility in Bronx, New York. During the second quarter of fiscal 2018 the Company performed an analysis on the remaining restructuring cost liability and as a result, recorded a benefit of $0.2 million . This is included in "payments and other adjustments" in the table below. The following is a summary of the restructuring costs the Company recorded in fiscal 2017, as well as the remaining liability as of January 27, 2018 (in thousands): Restructuring Costs Recorded in Fiscal 2017 Payments and Other Adjustments Restructuring Cost Liability as of January 27, 2018 Severance and other employee separation and transition costs $ 6,606 $ (5,428 ) $ 1,178 Early lease termination and facility closing costs 258 (258 ) — Total $ 6,864 $ (5,686 ) $ 1,178

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jan. 27, 2018
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The following is a reconciliation of the basic and diluted number of shares used in computing earnings per share (in thousands): 13-Week Period Ended 26-Week Period Ended January 27, January 28, January 27, January 28, Basic weighted average shares outstanding 50,449 50,587 50,633 50,531 Net effect of dilutive stock awards based upon the treasury stock method 292 168 216 146 Diluted weighted average shares outstanding 50,741 50,755 50,849 50,677 For the second quarter s of fiscal 2018 and fiscal 2017 , there were 292,703 and 36,986 anti-dilutive share-based awards outstanding, respectively. For the first 26 weeks of fiscal 2018 and 2017 , there were 581,618 and 40,862 anti-dilutive share-based awards outstanding, respectively. These anti-dilutive share-based awards were excluded from the calculation of diluted earnings per share.

FAIR VALUE MEASUREMENTS OF FINA

FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS	6 Months Ended
	Jan. 27, 2018
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS	FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS Hedging of Interest Rate Risk The Company manages its debt portfolio with interest rate swaps from time to time to achieve an overall desired position of fixed and floating rates. Details of outstanding swap agreements as of January 27, 2018 , which are all pay fixed and receive floating, are as follows: Swap Maturity Notional Value (in millions) Pay Fixed Rate Receive Floating Rate Floating Rate Reset Terms June 9, 2019 $ 50.0 0.8725 % One-Month LIBOR Monthly June 24, 2019 $ 50.0 0.7265 % One-Month LIBOR Monthly April 29, 2021 $ 25.0 1.0650 % One-Month LIBOR Monthly April 29, 2021 $ 25.0 0.9260 % One-Month LIBOR Monthly August 3, 2022 $ 117.5 1.7950 % One-Month LIBOR Monthly Interest rate swap agreements are entered into for periods consistent with related underlying exposures and do not constitute positions independent of those exposures. The Company’s interest rate swap agreements are designated as cash flow hedges at January 27, 2018 and are reflected at their fair value of $6.4 million included in "Other Assets" in the Condensed Consolidated Balance Sheet. The Company uses the “Hypothetical Derivative Method” described in Accounting Standards Codification ("ASC") 815 for quarterly prospective and retrospective assessments of hedge effectiveness, as well as for measurements of hedge ineffectiveness. Under this method, the Company assesses the effectiveness of each hedging relationship by comparing the changes in cash flows of the derivative hedging instrument with the changes in cash flows of the designated hedged transactions. The effective portion of changes in the fair value of the derivative is initially reported in other comprehensive income (outside of earnings) and subsequently reclassified to earnings in interest income when the hedged transactions affect earnings. Ineffectiveness resulting from the hedge is recorded as a gain or loss in the condensed consolidated statement of income as part of other income. The Company did not have any hedge ineffectiveness recognized in earnings during the second quarter and first 26 weeks of fiscal 2018 . The Company also monitors the risk of counterparty default on an ongoing basis and noted that the counterparties are reputable financial institutions. Financial Instruments The following table provides the fair value hierarchy for financial assets and liabilities measured on a recurring basis as of January 27, 2018 and July 29, 2017 : Fair Value at January 27, 2018 Fair Value at July 29, 2017 (In thousands) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Assets: Interest Rate Swap — $ 6,394 — — $ 2,491 — Liabilities: Interest Rate Swap — — — — (308 ) — The fair value of the Company's other financial instruments including accounts receivable, notes receivable, accounts payable and certain accrued expenses are derived using Level 2 inputs and approximate carrying amounts due to the short-term nature of these instruments. The fair value of notes payable approximate carrying amounts as they are variable rate instruments. The carrying amount of notes payable approximates fair value as interest rates on the credit facility approximates current market rates (Level 2 criteria). The following estimated fair value amounts have been determined by the Company using available market information and appropriate valuation methodologies taking into account the instruments' interest rate, terms, maturity date and collateral, if any, in comparison to the Company's incremental borrowing rate for similar financial instruments and are therefore deemed Level 2 inputs. However, considerable judgment is required in interpreting market data to develop the estimates of fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts that the Company could realize in a current market exchange. January 27, 2018 July 29, 2017 (In thousands) Carrying Value Fair Value Carrying Value Fair Value Liabilities: Long-term debt, including current portion $ 156,118 $ 162,406 $ 161,991 $ 169,058

TREASURY STOCK (Notes)

TREASURY STOCK (Notes)	6 Months Ended
	Jan. 27, 2018
Equity, Class of Treasury Stock [Line Items]
Treasury Stock [Text Block]	TREASURY STOCK On October 6, 2017, the Company announced that its Board of Directors authorized a share repurchase program for up to $200.0 million of the Company’s outstanding common stock. The repurchase program is scheduled to expire upon the Company’s repurchase of shares of the Company’s common stock having an aggregate purchase price of $200.0 million . Repurchases will be made in accordance with applicable securities laws from time to time in the open market, through privately negotiated transactions, or otherwise. The Company may also implement all or part of the repurchase program pursuant to a plan or plans meeting the conditions of Rule 10b5-1 under the Securities Exchange Act of 1934, as amended. Under this program, the Company purchased 402,587 shares of the Company's common stock at an aggregate cost of $15.8 million in the second quarter of fiscal 2018 and 564,660 shares of the Company's common stock at an aggregate cost of $22.2 million in the 26-week period ended January 27, 2018 . The Company records the repurchase of shares of common stock at cost based on the settlement date of the transaction. These shares are classified as treasury stock, which is a reduction to stockholders’ equity. Treasury stock is included in authorized and issued shares but excluded from outstanding shares.

INCOME TAXES (Notes)

INCOME TAXES (Notes)	6 Months Ended
	Jan. 27, 2018
Income Taxes [Abstract]
Income Tax Disclosure [Text Block]	INCOME TAXES Effects of the Tax Cuts and Jobs Act New tax legislation, commonly referred to as the Tax Cuts and Jobs Act ("TCJA"), was enacted on December 22, 2017. ASC 740, Accounting for Income Taxes , requires companies to recognize the effect of tax law changes in the period of enactment even though the effective date for most TCJA provisions is for tax years beginning after December 31, 2017. Though certain key aspects of the new law are effective January 1, 2018 and have an immediate accounting effect, other significant provisions are not effective or may not result in accounting effects for the Company until our fiscal year beginning August 2018. Given the significance of the legislation, the SEC staff issued SAB 118, which allows registrants to record provisional amounts concerning TCJA impacts during a one year “measurement period” similar to that used when accounting for business combinations. The measurement period is deemed to have ended earlier when the registrant has obtained, prepared and analyzed the information necessary to finalize its accounting. During the measurement period, impacts of the law are expected to be recorded at the time a reasonable estimate for all or a portion of the effects can be made, and provisional amounts can be recognized and adjusted as information becomes available, prepared or analyzed. SAB 118 summarizes a process to be applied at each reporting period to account for and qualitatively disclose: (1) the effects of the change in tax law for which accounting is complete; (2) provisional amounts (or adjustments to provisional amounts) for the effects of the tax law where accounting is not complete, but that a reasonable estimate has been determined; and (3) a reasonable estimate cannot yet be made and therefore taxes are reflected in accordance with law prior to the enactment of the TCJA. Provisional estimates have been recorded during the second quarter of fiscal 2018 for the estimated impact of the TCJA based on information that is currently available to the Company. These provisional estimates are comprised of amounts (including the tax basis of assets and liabilities) that will be finalized in connection with the Company's July 2017 tax returns, a rate reduction for fiscal 2018 to a 27% blended federal tax rate, a re-measurement of deferred tax balances to the new statutory 21% rate and the one-time mandatory repatriation transition tax. The Company estimates that the re-measurement of deferred taxes resulted in a provisional $21.9 million net benefit and the repatriation transition tax has an immaterial impact because of foreign tax credits available to the Company. As the Company completes its analysis of the TCJA, changes may be made to provisional estimates, and such changes will be reflected in the period in which the related adjustments are made.

BUSINESS SEGMENTS

BUSINESS SEGMENTS	6 Months Ended
	Jan. 27, 2018
Segment Reporting [Abstract]
BUSINESS SEGMENTS	BUSINESS SEGMENTS The Company has several operating divisions aggregated under the wholesale segment, which is the Company’s only reportable segment. These operating divisions have similar products and services, customer channels, distribution methods and historical margins. The wholesale segment is engaged in the national distribution of natural, organic and specialty foods, produce and related products in the United States and Canada. The Company has additional operating divisions that do not meet the quantitative thresholds for reportable segments and are therefore aggregated under the caption of “Other.” “Other” includes a retail division, which engages in the sale of natural foods and related products to the general public through retail storefronts on the east coast of the United States, a manufacturing division, which engages in the importing, roasting, packaging, and distributing of nuts, dried fruit, seeds, trail mixes, granola, natural and organic snack items and confections, the Company’s branded product lines, and the Company's brokerage business, which markets various products on behalf of food vendors directly and exclusively to the Company's customers. “Other” also includes certain corporate operating expenses that are not allocated to operating divisions, which include, among other expenses, stock based compensation, and salaries, retainers, and other related expenses of certain officers and all directors. Non-operating expenses that are not allocated to the operating divisions are under the caption of “Unallocated (Income)/Expenses.” The Company does not record its revenues for financial reporting purposes by product group, and it is therefore impracticable for the Company to report them accordingly. The following table reflects business segment information for the periods indicated (in thousands): Wholesale Other Eliminations Unallocated (Income)/Expenses Consolidated 13-Week Period Ended January 27, 2018: Net sales $ 2,514,670 $ 55,493 $ (42,152 ) $ — $ 2,528,011 Restructuring and asset impairment expenses 67 11,175 — — 11,242 Operating income (loss) 53,941 (16,549 ) 2,812 — 40,204 Interest expense — — — 4,233 4,233 Interest income — — — (96 ) (96 ) Other, net — — — (418 ) (418 ) Income before income taxes 36,485 Depreciation and amortization 21,437 370 — — 21,807 Capital expenditures 9,426 852 — — 10,278 Goodwill 353,688 10,153 — — 363,841 Total assets 2,909,175 183,180 (42,675 ) — 3,049,680 13-Week Period Ended January 28, 2017: Net sales $ 2,271,289 $ 51,377 $ (37,148 ) $ — $ 2,285,518 Operating income (loss) 52,562 (6,518 ) 227 — 46,271 Interest expense — — — 4,441 4,441 Interest income — — — (97 ) (97 ) Other, net — — — (101 ) (101 ) Income before income taxes 42,028 Depreciation and amortization 20,587 656 — — 21,243 Capital expenditures 12,374 1,102 — — 13,476 Goodwill 352,369 18,024 — — 370,393 Total assets 2,677,578 220,598 (28,173 ) — 2,870,003 Wholesale Other Eliminations Unallocated (Income)/Expenses Consolidated 26-Week Period Ended January 27, 2018: Net sales $ 4,959,328 $ 112,925 $ (86,697 ) $ — $ 4,985,556 Restructuring and asset impairment expenses 67 11,175 — — 11,242 Operating income (loss) 113,897 (21,140 ) 2,554 — 95,311 Interest expense — — — 7,900 7,900 Interest income — — — (187 ) (187 ) Other, net — — — (1,281 ) (1,281 ) Income before income taxes 88,879 Depreciation and amortization 42,976 1,273 — — 44,249 Capital expenditures 13,607 1,928 — — 15,535 Goodwill 353,688 10,153 — — 363,841 Total assets 2,909,175 183,180 (42,675 ) — 3,049,680 26-Week Period Ended January 28, 2017: Net sales $ 4,532,189 $ 109,117 $ (77,424 ) $ — $ 4,563,882 Operating income (loss) 111,225 (11,686 ) 71 — 99,610 Interest expense — — — 8,963 8,963 Interest income — — — (196 ) (196 ) Other, net — — — 282 282 Income before income taxes 90,561 Depreciation and amortization 41,278 1,180 — — 42,458 Capital expenditures 20,729 1,945 — — 22,674 Goodwill 352,369 18,024 — — 370,393 Total assets 2,677,578 220,598 (28,173 ) — 2,870,003

ACCRUED EXPENSES AND OTHER CURR

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Notes)	6 Months Ended
	Jan. 27, 2018
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES [Abstract]
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block]	ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES Accrued expenses and other current liabilities as of January 27, 2018 and July 29, 2017 consisted of the following (in thousands): January 27, July 29, Accrued salaries and employee benefits $ 61,040 $ 63,937 Workers' compensation and automobile liabilities 23,613 22,774 Interest rate swap liability — 308 Other 74,648 70,224 Total accrued expenses and other current liabilities $ 159,301 $ 157,243

NOTES PAYABLE (Notes)

NOTES PAYABLE (Notes)	6 Months Ended
	Jan. 27, 2018
Debt Disclosure [Abstract]
NOTES PAYABLE	NOTES PAYABLE On April 29, 2016, the Company entered into the Third Amended and Restated Loan and Security Agreement (the "Third A&R Credit Agreement") amending and restating certain terms and provisions of its revolving credit facility which increased the maximum borrowings under the amended and restated revolving credit facility and extended the maturity date to April 29, 2021. Up to $850.0 million is available to the Company's U.S. subsidiaries and up to $50.0 million is available to UNFI Canada. After giving effect to the Third A&R Credit Agreement, the amended and restated revolving credit facility provides an option to increase the U.S. or Canadian revolving commitments by up to an additional $600.0 million in the aggregate (but in not less than $10.0 million increments) subject to certain customary conditions and the lenders committing to provide the increase in funding. The borrowings of the U.S. portion of the amended and restated revolving credit facility, after giving effect to the Third A&R Credit Agreement, accrued interest at the base rate plus an applicable margin of 0.25% or LIBOR rate plus an applicable margin of 1.25% for the twelve-month period ended April 29, 2017. After this period, the interest on the U.S. borrowings is accrued at the Company's option, at either (i) a base rate (generally defined as the highest of (x) the Bank of America Business Capital prime rate, (y) the average overnight federal funds effective rate plus one-half percent ( 0.50% ) per annum and (z) one-month LIBOR plus one percent ( 1% ) per annum) plus an applicable margin that varies depending on daily average aggregate availability, or (ii) the LIBOR rate plus an applicable margin that varies depending on daily average aggregate availability. The borrowings on the Canadian portion of the credit facility accrued interest at the Canadian prime rate plus an applicable margin of 0.25% or a bankers' acceptance equivalent rate plus an applicable margin of 1.25% for the twelve-month period ended April 29, 2017. After this period, the borrowings on the Canadian portion of the credit facility accrue interest, at the Company's option, at either (i) a Canadian prime rate (generally defined as the highest of (x) 0.50% over 30-day Reuters Canadian Deposit Offering Rate ("CDOR") for bankers' acceptances, (y) the prime rate of Bank of America, N.A.'s Canada branch, and (z) a bankers' acceptance equivalent rate for a one month interest period plus 1.00%) plus an applicable margin that varies depending on daily average aggregate availability, or (ii) a bankers' acceptance equivalent rate of the rate of interest per annum equal to the annual rates applicable to Canadian Dollar bankers' acceptances on the "CDOR Page" of Reuter Monitor Money Rates Service, plus five basis points, and an applicable margin that varies depending on daily average aggregate availability. Unutilized commitments are subject to an annual fee in the amount of 0.30% if the total outstanding borrowings are less than 25% of the aggregate commitments, or a per annum fee of 0.25% if such total outstanding borrowings are 25% or more of the aggregate commitments. The Company is also required to pay a letter of credit fronting fee to each letter of credit issuer equal to 0.125% per annum of the stated amount of each such letter of credit (or such other amount as may be mutually agreed by the borrowers under the facility and the applicable letter of credit issuer), as well as a fee to all lenders equal to the applicable margin for LIBOR or bankers’ acceptance equivalent rate loans, as applicable, times the average daily stated amount of all outstanding letters of credit. As of January 27, 2018 , the Company's borrowing base, which is calculated based on eligible accounts receivable and inventory levels, net of $4.2 million of reserves, was $882.4 million . As of January 27, 2018 , the Company had $287.0 million of borrowings outstanding under the Company's amended and restated revolving credit facility and $30.3 million in letter of credit commitments which reduced the Company's available borrowing capacity under its revolving credit facility on a dollar for dollar basis. The Company's resulting remaining availability was $565.0 million as of January 27, 2018 . The revolving credit facility, as amended and restated, subjects the Company to a springing minimum fixed charge coverage ratio (as defined in the Third A&R Credit Agreement) of 1.0 to 1.0 calculated at the end of each of our fiscal quarters on a rolling four quarter basis when the adjusted aggregate availability (as defined in the Third A&R Credit Agreement) is less than the greater of (i) $60.0 million and (ii) 10% of the aggregate borrowing base. The Company was not subject to the fixed charge coverage ratio covenant under the Third A&R Credit Agreement during the second quarter of fiscal 2018 . The revolving credit facility also allows for the lenders thereunder to syndicate the credit facility to other banks and lending institutions. The Company has pledged the majority of its and its subsidiaries' accounts receivable and inventory for its obligations under the amended and restated revolving credit facility.

LONG-TERM DEBT

LONG-TERM DEBT	6 Months Ended
	Jan. 27, 2018
Debt Disclosure [Abstract]
Long-term Debt	LONG-TERM DEBT On August 14, 2014, the Company and certain of its subsidiaries entered into a real estate backed term loan agreement (the "Term Loan Agreement"). The total initial borrowings under the Term Loan Agreement were $150.0 million . The Company is required to make $2.5 million principal payments quarterly, which began on November 1, 2014. Under the Term Loan Agreement, the Company at its option may request the establishment of one or more new term loan commitments in increments of at least $10.0 million , but not to exceed $50.0 million in total, subject to the approval of the lenders electing to participate in such incremental loans and the satisfaction of the conditions required by the Term Loan Agreement. The Company will be required to make quarterly principal payments on these incremental borrowings in accordance with the terms of the Term Loan Agreement. Proceeds from this Term Loan Agreement were used to pay down borrowings on the Company's amended and restated revolving credit facility. On April 29, 2016, the Company entered into a First Amendment Agreement (the “Term Loan Amendment”) to the Term Loan Agreement which amends the Term Loan Agreement. The Term Loan Amendment was entered into to reflect the changes to the amended and restated revolving credit facility reflected in the Third A&R Credit Agreement. The Term Loan Agreement will terminate on the earlier of (a) August 14, 2022 and (b) the date that is ninety days prior to the termination date of the Company’s amended and restated revolving credit agreement, as amended. On September 1, 2016, the Company entered into a Second Amendment Agreement (the "Second Amendment") to the Term Loan Agreement which amends the Term Loan Agreement. The Second Amendment was entered into to adjust the applicable margin charged to borrowings under the Term Loan Agreement. As amended by the Second Amendment, borrowings under the Term Loan Agreement bear interest at rates that, at the Company's option, can be either: (1) a base rate generally defined as the sum of (i) the highest of (x) the administrative agent's prime rate, (y) the average overnight federal funds effective rate plus 0.50% and (z) one-month LIBOR plus one percent ( 1% ) per annum and (ii) a margin of 0.75% ; or, (2) a LIBOR rate generally defined as the sum of (i) LIBOR (as published by Reuters or other commercially available sources) for one, two, three or six months or, if approved by all affected lenders, nine months (all as selected by the Company), and (ii) a margin of 1.75% . Interest accrued on borrowings under the Term Loan Agreement is payable in arrears. Interest accrued on any LIBOR loan is payable on the last day of the interest period applicable to the loan and, with respect to any LIBOR loan of more than three (3) months, on the last day of every three (3) months of such interest period. Interest accrued on base rate loans is payable on the first day of every month. The Company is also required to pay certain customary fees to the administrative agent. The borrowers' obligations under the Term Loan Agreement are secured by certain parcels of the borrowers' real property. The Term Loan Agreement includes financial covenants that require (i) the ratio of the Company’s consolidated EBITDA (as defined in the Term Loan Agreement) minus the unfinanced portion of Capital Expenditures (as defined in the Term Loan Agreement) to the Company’s consolidated Fixed Charges (as defined in the Term Loan Agreement) to be at least 1.20 to 1.00 as of the end of any period of four fiscal quarters, (ii) the ratio of the Company’s Consolidated Funded Debt (as defined in the Term Loan Agreement) to the Company’s EBITDA for the four fiscal quarters most recently ended to be not more than 3.00 to 1.00 as of the end of any fiscal quarter and (iii) the ratio, expressed as a percentage, of the Company’s outstanding principal balance under the Loans (as defined in the Term Loan Agreement), divided by the Mortgaged Property Value (as defined in the Term Loan Agreement) to be not more than 75% at any time. As of January 27, 2018 , the Company was in compliance with the financial covenants of its Term Loan Agreement. As of January 27, 2018 , the Company had borrowings of $113.7 million under the Term Loan Agreement which is included in "Long-term debt" on the Condensed Consolidated Balance Sheet. During the fiscal year ended August 1, 2015, the Company entered into an amendment to an existing lease agreement for the office space utilized as the Company's corporate headquarters in Providence, Rhode Island. The amendment provides for additional office space to be utilized by the Company and extends the lease term for an additional 10 years. The lease qualifies for capital lease treatment pursuant to ASC 840, Leases, and the estimated fair value of the building is recorded on the balance sheet with the capital lease obligation included in long-term debt. A portion of each lease payment reduces the amount of the lease obligation, and a portion is recorded as interest expense at an effective rate of approximately 12.05% . The capital lease obligation as of January 27, 2018 was $12.7 million . The Company recorded $0.4 million of interest expense during each of the second quarter s of fiscal 2018 and 2017 and $0.8 million during each of the first 26 weeks of fiscal 2018 and 2017 . During the fiscal year ended July 28, 2012, the Company entered into a lease agreement for a new distribution facility in Aurora, Colorado. At the conclusion of the fiscal year ended August 3, 2013, actual construction costs exceeded the construction allowance as defined by the lease agreement, and therefore, the Company determined it met the criteria for continuing involvement pursuant to FASB ASC 840, Leases , and applied the financing method to account for this transaction during the fourth quarter of fiscal 2013. Under the financing method, the book value of the distribution facility and related accumulated depreciation remains on the Condensed Consolidated Balance Sheet. The construction allowance is recorded as a financing obligation in "Long-term debt." A portion of each lease payment reduces the amount of the financing obligation, and a portion is recorded as interest expense at an effective rate of approximately 7.32% . The financing obligation as of January 27, 2018 was $29.8 million . The Company recorded $0.5 million and $0.6 million of interest expense related to this lease during the second quarter s of fiscal 2018 and 2017 , respectively. During each of the first 26 weeks of fiscal 2018 and 2017 , the Company recorded $1.1 million of interest expense related to this lease.

SIGNIFICANT ACCOUNTING POLICI20

SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jan. 27, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	(b) Basis of Presentation The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany transactions and balances have been eliminated in consolidation. The accompanying unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC") for interim financial information, including the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, certain information and note disclosures normally required in complete financial statements prepared in conformity with accounting principles generally accepted in the United States have been condensed or omitted. In the Company’s opinion, these condensed consolidated financial statements include all adjustments necessary for a fair presentation of the financial position, results of operations and cash flows for the interim periods presented. The results of operations for interim periods, however, may not be indicative of the results that may be expected for a full year. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended July 29, 2017 . Net sales consist primarily of sales of natural, organic and specialty products to retailers, adjusted for customer volume discounts, returns, and allowances. Net sales also include amounts charged by the Company to customers for shipping and handling and fuel surcharges. The principal components of cost of sales include the amounts paid to suppliers for product sold, plus the cost of transportation necessary to bring the product to the Company’s distribution facilities, offset by consideration received from suppliers in connection with the purchase or promotion of the suppliers' products. Cost of sales also includes amounts incurred by the Company’s manufacturing subsidiary, United Natural Trading LLC, which does business as Woodstock Farms Manufacturing, for inbound transportation costs offset by consideration received from suppliers in connection with the purchase or promotion of the suppliers’ products. Operating expenses include salaries and wages, employee benefits, warehousing and delivery, selling, occupancy, insurance, administrative, share-based compensation and amortization expense. Operating expenses also include depreciation expense related to the wholesale and retail divisions. Other expense (income) includes interest on outstanding indebtedness, including the financing obligation related to our Aurora, Colorado distribution center and the lease for office space for our corporate headquarters in Providence, Rhode Island, interest income and miscellaneous income and expenses. As noted above, the Company includes shipping and handling fees billed to customers in net sales. Shipping and handling costs associated with inbound freight are generally recorded in cost of sales, whereas shipping and handling costs for selecting, quality assurance, and outbound transportation are recorded in operating expenses. Outbound shipping and handling costs, including allocated employee benefit expenses, totaled $146.4 million and $129.0 million for the second quarter of fiscal 2018 and 2017, respectively. Outbound shipping and handling costs, including allocated employee benefit expenses, totaled $284.4 million and $255.9 million for the first 26 weeks of fiscal 2018 and 2017 , respectively.

RESTRUCTURING ACTIVITIES AND 21

RESTRUCTURING ACTIVITIES AND ASSET IMPAIRMENTS RESTRUCTURING ACTIVITIES AND ASSET IMPAIRMENTS (Tables)	6 Months Ended
	Jan. 27, 2018
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs [Table Text Block]	The following is a summary of the restructuring costs the Company recorded in fiscal 2017, as well as the remaining liability as of January 27, 2018 (in thousands): Restructuring Costs Recorded in Fiscal 2017 Payments and Other Adjustments Restructuring Cost Liability as of January 27, 2018 Severance and other employee separation and transition costs $ 6,606 $ (5,428 ) $ 1,178 Early lease termination and facility closing costs 258 (258 ) — Total $ 6,864 $ (5,686 ) $ 1,178

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jan. 27, 2018
Earnings Per Share [Abstract]
Schedule of reconciliation of the weighted average number of shares outstanding used in the computation of the basic and diluted earnings per share	The following is a reconciliation of the basic and diluted number of shares used in computing earnings per share (in thousands): 13-Week Period Ended 26-Week Period Ended January 27, January 28, January 27, January 28, Basic weighted average shares outstanding 50,449 50,587 50,633 50,531 Net effect of dilutive stock awards based upon the treasury stock method 292 168 216 146 Diluted weighted average shares outstanding 50,741 50,755 50,849 50,677

FAIR VALUE MEASUREMENTS OF FI23

FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Jan. 27, 2018
Fair Value Disclosures [Abstract]
Derivative Instruments and Hedging Activities Disclosure [Text Block]	Details of outstanding swap agreements as of January 27, 2018 , which are all pay fixed and receive floating, are as follows: Swap Maturity Notional Value (in millions) Pay Fixed Rate Receive Floating Rate Floating Rate Reset Terms June 9, 2019 $ 50.0 0.8725 % One-Month LIBOR Monthly June 24, 2019 $ 50.0 0.7265 % One-Month LIBOR Monthly April 29, 2021 $ 25.0 1.0650 % One-Month LIBOR Monthly April 29, 2021 $ 25.0 0.9260 % One-Month LIBOR Monthly August 3, 2022 $ 117.5 1.7950 % One-Month LIBOR Monthly
Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table provides the fair value hierarchy for financial assets and liabilities measured on a recurring basis as of January 27, 2018 and July 29, 2017 : Fair Value at January 27, 2018 Fair Value at July 29, 2017 (In thousands) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Assets: Interest Rate Swap — $ 6,394 — — $ 2,491 — Liabilities: Interest Rate Swap — — — — (308 ) —
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments	January 27, 2018 July 29, 2017 (In thousands) Carrying Value Fair Value Carrying Value Fair Value Liabilities: Long-term debt, including current portion $ 156,118 $ 162,406 $ 161,991 $ 169,058

BUSINESS SEGMENTS (Tables)

BUSINESS SEGMENTS (Tables)	6 Months Ended
	Jan. 27, 2018
Segment Reporting [Abstract]
Schedule of business segment information	The following table reflects business segment information for the periods indicated (in thousands): Wholesale Other Eliminations Unallocated (Income)/Expenses Consolidated 13-Week Period Ended January 27, 2018: Net sales $ 2,514,670 $ 55,493 $ (42,152 ) $ — $ 2,528,011 Restructuring and asset impairment expenses 67 11,175 — — 11,242 Operating income (loss) 53,941 (16,549 ) 2,812 — 40,204 Interest expense — — — 4,233 4,233 Interest income — — — (96 ) (96 ) Other, net — — — (418 ) (418 ) Income before income taxes 36,485 Depreciation and amortization 21,437 370 — — 21,807 Capital expenditures 9,426 852 — — 10,278 Goodwill 353,688 10,153 — — 363,841 Total assets 2,909,175 183,180 (42,675 ) — 3,049,680 13-Week Period Ended January 28, 2017: Net sales $ 2,271,289 $ 51,377 $ (37,148 ) $ — $ 2,285,518 Operating income (loss) 52,562 (6,518 ) 227 — 46,271 Interest expense — — — 4,441 4,441 Interest income — — — (97 ) (97 ) Other, net — — — (101 ) (101 ) Income before income taxes 42,028 Depreciation and amortization 20,587 656 — — 21,243 Capital expenditures 12,374 1,102 — — 13,476 Goodwill 352,369 18,024 — — 370,393 Total assets 2,677,578 220,598 (28,173 ) — 2,870,003 Wholesale Other Eliminations Unallocated (Income)/Expenses Consolidated 26-Week Period Ended January 27, 2018: Net sales $ 4,959,328 $ 112,925 $ (86,697 ) $ — $ 4,985,556 Restructuring and asset impairment expenses 67 11,175 — — 11,242 Operating income (loss) 113,897 (21,140 ) 2,554 — 95,311 Interest expense — — — 7,900 7,900 Interest income — — — (187 ) (187 ) Other, net — — — (1,281 ) (1,281 ) Income before income taxes 88,879 Depreciation and amortization 42,976 1,273 — — 44,249 Capital expenditures 13,607 1,928 — — 15,535 Goodwill 353,688 10,153 — — 363,841 Total assets 2,909,175 183,180 (42,675 ) — 3,049,680 26-Week Period Ended January 28, 2017: Net sales $ 4,532,189 $ 109,117 $ (77,424 ) $ — $ 4,563,882 Operating income (loss) 111,225 (11,686 ) 71 — 99,610 Interest expense — — — 8,963 8,963 Interest income — — — (196 ) (196 ) Other, net — — — 282 282 Income before income taxes 90,561 Depreciation and amortization 41,278 1,180 — — 42,458 Capital expenditures 20,729 1,945 — — 22,674 Goodwill 352,369 18,024 — — 370,393 Total assets 2,677,578 220,598 (28,173 ) — 2,870,003

ACCRUED EXPENSES AND OTHER CU25

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES Accrued Expenses and Other Current Liabilities (Tables)	6 Months Ended
	Jan. 27, 2018
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES [Abstract]
Accrued Expenses and Other Current Liabilities [Table Text Block]	Accrued expenses and other current liabilities as of January 27, 2018 and July 29, 2017 consisted of the following (in thousands): January 27, July 29, Accrued salaries and employee benefits $ 61,040 $ 63,937 Workers' compensation and automobile liabilities 23,613 22,774 Interest rate swap liability — 308 Other 74,648 70,224 Total accrued expenses and other current liabilities $ 159,301 $ 157,243

SIGNIFICANT ACCOUNTING POLICI26

SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 27, 2018	Jan. 28, 2017	Jan. 27, 2018	Jan. 28, 2017
Significant Accounting Policies
Total outbound shipping and handling costs	$ 146.4	$ 129	$ 284.4	$ 255.9

RECENTLY ISSUED ACCOUNTING PR27

RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jan. 27, 2018	Jan. 27, 2018	Oct. 28, 2017	Jul. 30, 2017	Jul. 29, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred income taxes	$ 0	$ 0	$ 40,600		$ 40,635
Adjustment to Additional Paid in Capital, Income Tax Effect from Share-based Compensation, Net		$ 900
Cumulative effect of change in accounting principle				$ 509
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative Effect on Retained Earnings, Net of Tax	$ (805)
Additional Paid-in Capital
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of change in accounting principle				$ 1,314

ACQUISITIONS (Details)

ACQUISITIONS (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 28, 2017	Jan. 27, 2018	Jul. 29, 2017	Jan. 28, 2017	Oct. 29, 2016	Aug. 10, 2016
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Goodwill		$ 363,841	$ 371,259	$ 370,393	$ 370,393
Gourmet Guru, Inc. [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Finite-Lived Customer Relationships, Gross						$ 1,000
Goodwill		$ 10,300
Total purchase price						$ 10,000
Measurement Period Adjustment, Total purchase price	$ 200

RESTRUCTURING ACTIVITIES AND 29

RESTRUCTURING ACTIVITIES AND ASSET IMPAIRMENTS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended			12 Months Ended
	Jan. 27, 2018	Jan. 28, 2017	Jul. 28, 2018	Jan. 27, 2018	Jan. 28, 2017	Jul. 29, 2017
Restructuring Costs Recorded in Fiscal 2016
Restructuring and asset impairment				$ 3,370	$ 0
Goodwill impairment				7,872	0
Restructuring Costs [Abstract]
Restructuring and asset impairment expenses	$ 11,242	$ 0		11,242	$ 0
2017 Cost Saving and Efficiency Initiatives [Member]
Restructuring Cost Liability as of January 27, 2018
Restructuring Charges						$ 6,864
Payments for Restructuring				(5,686)
Restructuring Reserve	1,178			1,178
Restructuring Reserve, Accrual Adjustment	182
Earth Origins Market [Member]
Restructuring Costs Recorded in Fiscal 2016
Restructuring and asset impairment	3,300
Restructuring Costs [Abstract]
Restructuring and asset impairment expenses	11,400
Restructuring Cost Liability as of January 27, 2018
Restructuring Charges	200
Employee Severance [Member] | 2017 Cost Saving and Efficiency Initiatives [Member]
Restructuring Cost Liability as of January 27, 2018
Restructuring Charges						6,606
Payments for Restructuring				(5,428)
Restructuring Reserve	1,178			1,178
Facility Closing [Member] | 2017 Cost Saving and Efficiency Initiatives [Member]
Restructuring Cost Liability as of January 27, 2018
Restructuring Charges						$ 258
Payments for Restructuring				(258)
Restructuring Reserve	$ 0			$ 0
Maximum
Restructuring Cost Liability as of January 27, 2018
Restructuring Charges			$ 2,600

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - shares	3 Months Ended		6 Months Ended
	Jan. 27, 2018	Jan. 28, 2017	Jan. 27, 2018	Jan. 28, 2017
Reconciliation of the basic and diluted number of shares used in computing earnings per share:
Basic weighted average shares outstanding	50,449,000	50,587,000	50,633,000	50,531,000
Net effect of dilutive stock awards based upon the treasury stock method	292,000	168,000	216,000	146,000
Diluted weighted average shares outstanding	50,741,000	50,755,000	50,849,000	50,677,000
Anti-dilutive share-based payment awards outstanding (in shares)	292,703	36,986	581,618	40,862

FAIR VALUE MEASUREMENTS OF FI31

FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands	Jun. 24, 2016	Jun. 09, 2016	Jan. 23, 2015	Jan. 27, 2018	Jul. 29, 2017
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest Rate Derivative Liabilities, at Fair Value				$ 0	$ (308)
Interest Rate Derivative Assets, at Fair Value				6,394	2,491
Long term debt, including current portion, carrying value				156,118	161,991
Long term debt, including current portion, fair value				$ 162,406	$ 169,058
Interest Rate Swap January 23, 2015 [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Maturity Date			Aug. 3, 2022
Derivative, Forward Interest Rate			1.795%
Derivative, Notional Amount			$ 117,500
Interest Rate Swap June 9, 2016 [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Maturity Date		Jun. 9, 2019
Derivative, Forward Interest Rate		0.8725%
Derivative, Notional Amount		$ 50,000
Interest Rate Swap June 9, 2016 [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Maturity Date		Apr. 29, 2021
Derivative, Forward Interest Rate		1.065%
Derivative, Notional Amount		$ 25,000
Interest Rate Swap June 24, 2016 [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Maturity Date	Jun. 24, 2019
Derivative, Forward Interest Rate	0.7265%
Derivative, Notional Amount	$ 50,000
Interest Rate Swap June 24, 2016 [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Maturity Date	Apr. 29, 2021
Derivative, Forward Interest Rate	0.926%
Derivative, Notional Amount	$ 25,000

TREASURY STOCK (Details)

TREASURY STOCK (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jan. 27, 2018	Jan. 27, 2018	Oct. 06, 2017
Treasury Stock [Abstract]
Stock Repurchase Program, Authorized Amount			$ 200,000
Treasury Stock, Shares, Acquired	402,587	564,660
Treasury Stock, Value, Acquired, Cost Method	$ (15,787)	$ 22,237

INCOME TAXES (Details)

INCOME TAXES (Details) $ in Millions	6 Months Ended
	Jan. 27, 2018USD ($)
Blended Federal Tax Rate [Line Items]
Blended federal tax rate	27.00%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%
Remeasurement of net deferred tax liabilities	$ 21.9

BUSINESS SEGMENTS (Details)

BUSINESS SEGMENTS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 27, 2018	Jan. 28, 2017	Jan. 27, 2018	Jan. 28, 2017	Jul. 29, 2017	Oct. 29, 2016
Business segment information
Net sales	$ 2,528,011	$ 2,285,518	$ 4,985,556	$ 4,563,882
Restructuring and asset impairment expenses	11,242	0	11,242	0
Operating income (loss)	40,204	46,271	95,311	99,610
Interest expense	4,233	4,441	7,900	8,963
Interest income	(96)	(97)	(187)	(196)
Other expense (income), net	(418)	(101)	(1,281)	282
Income before income taxes	36,485	42,028	88,879	90,561
Depreciation and amortization	21,807	21,243	44,249	42,458
Capital expenditures	10,278	13,476	15,535	22,674
Goodwill	363,841	370,393	363,841	370,393	$ 371,259	$ 370,393
Total assets	3,049,680	2,870,003	3,049,680	2,870,003	$ 2,886,563	2,870,003
Wholesale
Business segment information
Net sales	2,514,670	2,271,289	4,959,328	4,532,189
Restructuring and asset impairment expenses	67		67
Operating income (loss)	53,941	52,562	113,897	111,225
Interest expense	0	0	0	0
Interest income	0	0	0	0
Other expense (income), net	0	0	0	0
Depreciation and amortization	21,437	20,587	42,976	41,278
Capital expenditures	9,426	12,374	13,607	20,729
Goodwill	353,688	352,369	353,688	352,369		352,369
Total assets	2,909,175	2,677,578	2,909,175	2,677,578		2,677,578
Other
Business segment information
Net sales	55,493	51,377	112,925	109,117
Restructuring and asset impairment expenses	11,175		11,175
Operating income (loss)	(16,549)	(6,518)	(21,140)	(11,686)
Interest expense	0	0	0	0
Interest income	0	0	0	0
Other expense (income), net	0	0	0	0
Depreciation and amortization	370	656	1,273	1,180
Capital expenditures	852	1,102	1,928	1,945
Goodwill	10,153	18,024	10,153	18,024		18,024
Total assets	183,180	220,598	183,180	220,598		220,598
Eliminations
Business segment information
Net sales	(42,152)	(37,148)	(86,697)	(77,424)
Restructuring and asset impairment expenses	0		0
Operating income (loss)	2,812	227	2,554	71
Interest expense	0	0	0	0
Interest income	0	0	0	0
Other expense (income), net	0	0	0	0
Depreciation and amortization	0	0	0	0
Capital expenditures	0	0	0	0
Goodwill	0	0	0	0		0
Total assets	(42,675)	(28,173)	(42,675)	(28,173)		(28,173)
Unallocated
Business segment information
Net sales	0	0	0	0
Restructuring and asset impairment expenses	0		0
Operating income (loss)	0	0	0	0
Interest expense	4,233	4,441	7,900	8,963
Interest income	96	97	187	196
Other expense (income), net	418	101	1,281	(282)
Depreciation and amortization	0	0	0	0
Capital expenditures	0	0	0	0
Goodwill	0	0	0	0		0
Total assets	$ 0	$ 0	$ 0	$ 0		$ 0

ACCRUED EXPENSES AND OTHER CU35

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Jan. 27, 2018	Jul. 29, 2017
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES [Abstract]
Accrued salaries and employee benefits	$ 61,040	$ 63,937
Workers' compensation and automobile liabilities	23,613	22,774
Interest rate swap liability	0	308
Other	74,648	70,224
Accrued expenses and other current liabilities	$ 159,301	$ 157,243

NOTES PAYABLE (Details)

NOTES PAYABLE (Details) $ in Thousands	Apr. 30, 2016quarter	Jan. 27, 2018USD ($)	Jul. 29, 2017USD ($)	Apr. 29, 2016USD ($)	May 28, 2014
Line of Credit Facility [Line Items]
Debt Instrument, Fee Amount	0.125%
Notes Payable		$ 287,039	$ 223,612
CANADA
Line of Credit Facility [Line Items]
Maximum Borrowing Base				$ 50,000
UNITED STATES
Line of Credit Facility [Line Items]
Maximum Borrowing Base				850,000
Minimum
Line of Credit Facility [Line Items]
Maximum Borrowing Base				10,000
Maximum
Line of Credit Facility [Line Items]
Maximum Borrowing Base				600,000
Amended and restated revolving credit facility
Line of Credit Facility [Line Items]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.30%
Debt Instrument, Covenant Fixed Charge Coverage Ratio Minimum, Numerator	1
Debt Instrument, Covenant Fixed Charge Coverage Ratio Minimum, Denominator	1
Line of Credit Facility, Maximum Percentage of Aggregate Availability of the Aggregate Borrowing Base	10.00%
Amended and restated revolving credit facility | UNITED STATES | Federal Funds Effective Rate
Line of Credit Facility [Line Items]
Debt Instrument, Description of Variable Rate Basis	federal funds effective rate
Debt Instrument, Basis Spread on Variable Rate	0.50%
Amended and restated revolving credit facility | UNITED STATES | LIBOR
Line of Credit Facility [Line Items]
Debt Instrument, Description of Variable Rate Basis	LIBOR
initial applicable margin	1.25%
Amended and restated revolving credit facility | UNITED STATES | One-month LIBOR
Line of Credit Facility [Line Items]
Debt Instrument, Description of Variable Rate Basis	one-month LIBOR
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.25%
Amended and restated revolving credit facility | UNITED STATES | Reuters Canadian Deposit Offering Rate
Line of Credit Facility [Line Items]
Debt Instrument, Description of Variable Rate Basis	Reuters Canadian Deposit Offering Rate ("CDOR")
Debt Instrument, Basis Spread on Variable Rate	0.50%
Amended and restated revolving credit facility | UNITED STATES | Debt Instrument Variable Rate Bankers Acceptance Equivalent for One Month Interest Period [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Description of Variable Rate Basis	bankers' acceptance equivalent rate for a one month interest period
Amended and restated revolving credit facility | Minimum
Line of Credit Facility [Line Items]
Line of Credit Facility Percentage of Average Daily Balance of Amount Used	25.00%
Line of Credit Facility, Maximum Aggregate Availability of the Aggregate Borrowing Base				$ 60,000
Amended and restated revolving credit facility
Line of Credit Facility [Line Items]
Debt Instrument, Fixed Charge Coverage Ratio, Number of Quarters | quarter	4
Line of Credit, Amount of Reserves Affecting Current, Borrowing Capacity		4,200
Line of Credit Facility, Current Borrowing Capacity		882,400
Letters of Credit Outstanding, Amount		30,300
Line of Credit Facility, Remaining Borrowing Capacity		$ 565,000
Amended and restated revolving credit facility | CANADA
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.25%
Amended and restated revolving credit facility | UNITED STATES
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.25%
Debt Instrument Variable Rate One Month LIBOR [Member] | Amended and restated revolving credit facility | UNITED STATES
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.00%
Debt Instrument, Variable Rate LIBOR [Member] | Amended and restated revolving credit facility | UNITED STATES
Line of Credit Facility [Line Items]
Debt Instrument Initial Applicable Margin					1.25%

LONG-TERM DEBT (Details)

LONG-TERM DEBT (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 27, 2018	Jan. 28, 2017	Jan. 27, 2018	Jan. 28, 2017	Jul. 29, 2017	Aug. 14, 2014
Long-term debt instrument
Repayments of Long-term Debt			$ 6,054	$ 5,658
Long term debt, including current portion, carrying value	$ 156,118		156,118		$ 161,991
Interest expense	4,233	$ 4,441	7,900	8,963
Term loan
Long-term debt instrument
Repayments of Long-term Debt			2,500
Long term debt, including current portion, carrying value	113,700		113,700
Capital lease obligation
Long-term debt instrument
Interest Expense, Lessee, Assets under Capital Lease	$ 400	400	$ 800	800
Lease Term			10 years
Effective interest rate on debt	12.05%		12.05%
Capital Lease Obligation	$ 12,700		$ 12,700
Sale Leaseback Financing Obligation
Long-term debt instrument
Long term debt, including current portion, carrying value	$ 29,800		$ 29,800
Effective interest rate on debt	7.32%		7.32%
Interest expense	$ 500	$ 600	$ 1,100	$ 1,100
Base Rate [Member] | Term loan
Long-term debt instrument
initial applicable margin			0.75%
Federal Funds Effective Swap Rate [Member] | Term loan
Long-term debt instrument
Debt Instrument, Description of Variable Rate Basis			overnight federal funds effective rate
Debt Instrument, Basis Spread on Variable Rate			0.50%
One-month LIBOR | Term loan
Long-term debt instrument
Debt Instrument, Description of Variable Rate Basis			one-month LIBOR
Debt Instrument, Basis Spread on Variable Rate			1.00%
LIBOR | Term loan
Long-term debt instrument
Debt Instrument, Description of Variable Rate Basis			one, two, three or six months or, if approved by all affected lenders, nine months
initial applicable margin			1.75%
Term loan
Long-term debt instrument
Proceeds from borrowings of long-term debt						$ 150,000
Term loan | Minimum
Long-term debt instrument
Proceeds from Issuance of Debt			$ 10,000
Term loan | Maximum
Long-term debt instrument
Proceeds from Issuance of Debt			$ 50,000