v3.26.1
BUSINESS SEGMENTS (Tables)
 9 Months Ended
May 02, 2026
Segment Reporting [Abstract]  
Schedule of Business Segment Information
The following tables provide financial information for each reportable segment, along with a reconciliation to Income (loss) before income taxes:
13-Week Period Ended May 2, 2026
(in millions)NaturalConventionalRetailTotal
Net sales (revenues from external customers)$4,331 $2,877 $515 $7,723 
Intersegment Net sales11 259 — 270 
4,342 3,136 515 $7,993 
Elimination of intersegment Net sales(270)
Net sales$7,723 
Less:
Cost of sales(1)
3,769 2,778 389 
Distribution expenses(1)
328 217 — 
Other(2)
99 77 135 
Segment Adjusted EBITDA146 64 (9)$201 
Adjustments:
Elimination of intersegment profit
2 
Unallocated corporate overhead(20)
Net periodic benefit income, excluding service cost6 
Interest expense, net(31)
Other income, net1 
Depreciation and amortization(74)
Share-based compensation(18)
LIFO charge(8)
Restructuring, acquisition, and integration related expenses(10)
Loss on sale of assets and other asset charges
(19)
Business transformation costs(7)
Cybersecurity incident19 
Income before income taxes
$42 
(1)The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
(2)Other segment items for each reportable segment include:
•Natural and Conventional – other operating costs such as selling, general and administrative expenses and certain allocated corporate costs
•Retail – other operating costs such as store compensation and occupancy costs, selling and administrative expenses as well as an adjustment for Net income attributable to noncontrolling interests, which is excluded from Adjusted EBITDA
13-Week Period Ended May 3, 2025(1)
(in millions)NaturalConventionalRetailTotal
Net sales (revenues from external customers)$4,149 $3,337 $573 $8,059 
Intersegment Net sales11 291 — 302 
4,160 3,628 573 $8,361 
Elimination of intersegment Net sales(302)
Net sales$8,059 
Less:
Cost of sales(2)
3,608 3,248 428 
Distribution expenses(2)
318 246 — 
Other(3)
110 87 144 
Segment Adjusted EBITDA124 47 1 $172 
Adjustments:
Elimination of intersegment profit
1 
Unallocated corporate overhead(16)
Net periodic benefit income, excluding service cost5 
Interest expense, net(36)
Depreciation and amortization(81)
Share-based compensation(10)
LIFO benefit5 
Restructuring, acquisition, and integration related expenses(14)
Loss on sale of assets and other asset charges
(28)
Business transformation costs(14)
Loss before income taxes
$(16)
(1)Prior periods have been recast to conform to the Company’s new reportable operating segments effective for the fourth quarter of fiscal 2025. There was no impact to the Company’s consolidated results.
(2)The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
(3)Other segment items for each reportable segment include:
•Natural and Conventional – other operating costs such as selling, general and administrative expenses and certain allocated corporate costs
•Retail – other operating costs such as store compensation and occupancy costs, selling and administrative expenses as well as an adjustment for Net income attributable to noncontrolling interests, which is excluded from Adjusted EBITDA
39-Week Period Ended May 2, 2026
(in millions)NaturalConventionalRetailTotal
Net sales (revenues from external customers)$12,839 $9,042 $1,629 $23,510 
Intersegment Net sales33 811 — 844 
12,872 9,853 1,629 $24,354 
Elimination of intersegment Net sales(844)
Net sales$23,510 
Less:
Cost of sales(1)
11,207 8,744 1,237 
Distribution expenses(1)
979 666 — 
Other(2)
283 235 415 
Segment Adjusted EBITDA403 208 (23)$588 
Adjustments:
Elimination of intersegment profit
1 
Unallocated corporate overhead(60)
Net periodic benefit income, excluding service cost18 
Interest expense, net(97)
Other income, net(7)
Depreciation and amortization(225)
Share-based compensation(45)
LIFO charge(18)
Restructuring, acquisition, and integration related expenses(40)
Loss on sale of assets and other asset charges
(42)
Business transformation costs(24)
Cybersecurity incident18 
Other adjustments(11)
Income before income taxes
$56 
(1)The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
(2)Other segment items for each reportable segment include:
•Natural and Conventional – other operating costs such as selling, general and administrative expenses and certain allocated corporate costs
•Retail – other operating costs such as store compensation and occupancy costs, selling and administrative expenses as well as an adjustment for Net income attributable to noncontrolling interests, which is excluded from Adjusted EBITDA
39-Week Period Ended May 3, 2025(1)
(in millions)NaturalConventionalRetailTotal
Net sales (revenues from external customers)$11,977 $10,342 $1,769 $24,088 
Intersegment Net sales42 911 — 953 
12,019 11,253 1,769 $25,041 
Elimination of intersegment Net sales(953)
Net sales$24,088 
Less:
Cost of sales(2)
10,434 10,087 1,320 
Distribution expenses(2)
943 752 — 
Other(3)
319 263 440 
Segment Adjusted EBITDA323 151 9 $483 
Adjustments:
Elimination of intersegment profit
1 
Unallocated corporate overhead(48)
Net income attributable to noncontrolling interests2 
Net periodic benefit income, excluding service cost15 
Interest expense, net(110)
Other income, net3 
Depreciation and amortization(242)
Share-based compensation(28)
LIFO charge(5)
Restructuring, acquisition, and integration related expenses(35)
Loss on sale of assets and other asset charges
(39)
Business transformation costs(40)
Other adjustments(2)
Loss before income taxes
$(45)
(1)Prior periods have been recast to conform to the Company’s new reportable operating segments effective for the fourth quarter of fiscal 2025. There was no impact to the Company’s consolidated results.
(2)The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
(3)Other segment items for each reportable segment include:
•Natural and Conventional – other operating costs such as selling, general and administrative expenses and certain allocated corporate costs
•Retail – other operating costs such as store compensation and occupancy costs, selling and administrative expenses as well as an adjustment for Net income attributable to noncontrolling interests, which is excluded from Adjusted EBITDA
The following table provides other significant items by reportable segment, along with a reconciliation to consolidated totals:
13-Week Period Ended39-Week Period Ended
 (in millions)May 2, 2026
May 3, 2025(1)
May 2, 2026
May 3, 2025(1)
Depreciation and amortization:
Natural$26 $27 $79 $77 
Conventional41 45 121 134 
Retail7 9 23 27 
Total segments74 81 223 238 
Unallocated corporate— — 2 4 
Consolidated total$74 $81 $225 $242 
Payments for capital expenditures:
Natural$15 $30 $45 $109 
Conventional24 15 46 33 
Retail3 8 6 14 
Total segments42 53 97 156 
Unallocated corporate2 1 3 1 
Consolidated total$44 $54 $100 $157 
(1)Prior periods have been recast to conform to the Company’s new reportable operating segments effective for the fourth quarter of fiscal 2025. There was no impact to the Company’s consolidated results.