v3.25.3
Business Segment Information
 3 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Business Segment Information Business Segment Information
Our financial results are presented as two reportable segments: Retail and Foodservice. Costs that are directly attributable to either Retail or Foodservice are charged directly to the appropriate segment. Costs that are deemed to be indirect, excluding corporate expenses and other unusual significant transactions, are allocated to the two reportable segments using a reasonable methodology that is consistently applied.
Retail - The vast majority of the products we sell in the Retail segment are sold through sales personnel, food brokers and distributors in the United States. We have products typically marketed in the shelf-stable section of the grocery store, which include licensed sauces and dressings, along with our own branded salad dressings and croutons. Within the frozen food section of the grocery store, we sell yeast rolls and garlic breads. We also have placement of products in grocery produce departments through our refrigerated salad dressings, licensed dressings, vegetable dips and fruit dips.
Foodservice - The vast majority of the products we sell in the Foodservice segment are sold through sales personnel, food brokers and distributors in the United States. Most of the products we sell in the Foodservice segment are custom-formulated sauces, salad dressings, frozen breads and yeast rolls. The majority of our Foodservice sales are products sold under private label to national chain restaurant accounts. We also manufacture and sell various branded Foodservice products to distributors. Finally, within this segment, we are manufacturing and selling certain salad dressing and sauce products under a temporary supply agreement (“TSA”) resulting from the Atlanta plant acquisition. The TSA sales commenced in March 2025 and are expected to conclude during the quarter ending March 31, 2026.
Our Chief Operating Decision Maker (“CODM”) is our Chief Executive Officer. Our CODM evaluates segment performance based on net sales and operating income. On a monthly basis, our CODM reviews results in comparison to the annual operating plan (“AOP”), the latest forecast and prior-year results. Resource allocation decisions are primarily made through the forecasting process, including development of the AOP. As many of our products are similar between our two segments, our procurement, manufacturing, warehousing and distribution activities are substantially integrated across our operations in order to maximize efficiency and productivity. Consequently, we do not prepare, and our CODM does not review, separate balance sheets or property additions for the reportable segments. As such, our external reporting does not include the presentation of identifiable assets or depreciation and amortization separately by reportable segment.
The following table sets forth net sales disaggregated by class of similar products for the Retail and Foodservice segments:
 Three Months Ended 
September 30,
 20252024
Retail
Shelf-stable dressings, sauces and croutons$104,120 $101,025 
Frozen breads90,624 83,899 
Refrigerated dressings, dips and other53,101 54,647 
Total Retail net sales$247,845 $239,571 
Foodservice
Dressings and sauces$175,106 $170,339 
Frozen breads and other59,830 56,648 
Other dressings and sauces for TSA10,691 — 
Total Foodservice net sales$245,627 $226,987 
Total net sales$493,472 $466,558 
The following table provides an additional disaggregation of Foodservice net sales by type of customer:
 Three Months Ended 
September 30,
 20252024
Foodservice
National accounts$183,832 $175,947 
Branded and other51,104 51,040 
Other dressings and sauces for TSA10,691 — 
Total Foodservice net sales$245,627 $226,987 
The following tables provide financial information attributable to our reportable segments, including significant segment expenses, as well as certain amounts not allocated among our reportable segments. Net sales are predominately domestic. All intercompany transactions have been eliminated. Nonallocated corporate expenses include various expenses of a general corporate nature and costs related to certain divested or closed nonfood operations.
For The Three Months Ended September 30, 2025
RetailFoodserviceTotal
Net Sales$247,845 $245,627 $493,472 
Cost of Sales174,275 200,378 
Selling, General and Administrative Expenses22,959 10,481 
Total Segment Operating Income$50,611 $34,768 $85,379 
Nonallocated Corporate Expenses24,976 
Nonallocated Restructuring and Impairment Charges (1)
1,143 
Operating Income$59,260 
Other, Net1,529 
Income Before Income Taxes$60,789 
(1)Nonallocated restructuring and impairment charges in 2026 resulted from the closure of our Milpitas, California sauce and dressing manufacturing facility.
For The Three Months Ended September 30, 2024
RetailFoodserviceTotal
Net Sales$239,571 $226,987 $466,558 
Cost of Sales164,113 191,621 
Selling, General and Administrative Expenses19,283 11,057 
Total Segment Operating Income$56,175 $24,309 $80,484 
Nonallocated Corporate Expenses24,620 
Operating Income$55,864 
Other, Net2,019 
Income Before Income Taxes$57,883 
The following table sets forth reconciliations of our reportable segments’ total identifiable assets to the consolidated totals and our reportable segments’ total depreciation and amortization expenses to the consolidated totals:
September 30,
2025		June 30,
2025
Identifiable Assets (1)
Retail & Foodservice (2)
$1,103,881 $1,083,381 
Corporate234,583 191,343 
Total$1,338,464 $1,274,724 
Three Months Ended 
September 30,
20252024
Depreciation and Amortization
Retail & Foodservice (2)
$15,316 $13,082 
Corporate1,393 1,275 
Total$16,709 $14,357 
(1)Long-lived assets are predominately domestic. Retail and Foodservice identifiable assets include those assets used in our operations and other intangible assets allocated to purchased businesses, most notably goodwill. The composition of our Retail and Foodservice identifiable assets at September 30, 2025 is generally consistent with that of June 30, 2025. Corporate assets consist principally of cash and equivalents. The increase in Corporate identifiable assets from June 30, 2025 to September 30, 2025 reflects higher cash and equivalents, as well as an increase in prepaid federal income taxes.
(2)As discussed above, we do not present identifiable assets or depreciation and amortization separately by reportable segment.