Our chief operating decision maker (“CODM”) is our President and CEO. The CODM regularly reviews net sales, gross profit, and operating income by segment to assess profitability and assist in the allocation of resources. Net sales and operating income for each segment are provided below, along with the Significant Segment Expense categories that are regularly provided and used by the CODM when assessing segment profitability and the allocation of resources. The significant amounts within the segment operating expenses include cost of goods sold, compensation and benefits, and advertising. The other operating expenses in the table below is comprised of all other SG&A expenses which include but are not limited to travel, research & development, technical service support, and amortization of intangibles. Our CODM reviews the performance of each segment regularly by analyzing financial results in conjunction with our internal financial forecasts.

The corporate expenses line in the table below represents certain unallocated expenses, including primarily salaries, wages and benefits, purchased services, rent, utilities and depreciation and amortization associated with corporate functions such as information systems, finance, legal, human resources and customer service. Corporate expenses also include the annual incentive plan bonus accrual.


	Year Ended July 31, 2026
(in thousands)	Business to Business Products Group		Retail and Wholesale Products Group		Total

Net Sales	$	180,198	$	313,646	$	493,844
Cost of Goods Sold	(108,603)		(247,731)		(356,334)
Gross Profit	71,595		65,915		137,510
Compensation and Benefits	(9,644)		(8,516)		(18,160)
Advertising	(1,078)		(5,969)		(7,047)
Other Operating Expenses	(5,525)		(7,700)		(13,225)
Operating Income	55,348		43,730		99,078
Corporate Expenses					(31,096)
Income from Operations					67,982
Total Other Income, Net					1,501
Income Before Income Taxes					$	69,483
Income Tax Expense					$	(12,514)
Net Income					$	56,969


	Year Ended July 31, 2025
(in thousands)	Business to Business Products Group		Retail and Wholesale Products Group		Total

Net Sales	$	182,596	$	302,976	$	485,572
Cost of Goods Sold	(106,691)		(235,798)		(342,489)
Gross Profit	75,905		67,178		143,083
Compensation and Benefits	(8,748)		(8,366)		(17,114)
Advertising	(1,115)		(6,439)		(7,554)
Other Operating Expenses	(6,246)		(8,236)		(14,482)
Operating Income	59,796		44,137		103,933
Corporate Expenses					(35,713)
Income from Operations					68,220
Total Other Expense, Net					(2,009)
Income Before Income Taxes					$	66,211
Income Tax Expense					$	(12,215)
Net Income					$	53,996


	Year Ended July 31, 2024
(in thousands)	Business to Business Products Group		Retail and Wholesale Products Group		Total

Net Sales	$	150,471	$	287,116	$	437,587
Cost of Goods Sold	(89,789)		(222,704)		(312,493)
Gross Profit	60,682		64,412		125,094
Compensation and Benefits	(9,109)		(6,645)		(15,754)
Advertising	(891)		(8,148)		(9,039)
Other Operating Expenses	(5,093)		(5,815)		(10,908)
Operating Income	45,589		43,804		89,393
Corporate Expenses					(37,748)
Income from Operations					51,645
Total Other Expense, Net					(1,994)
Income Before Income Taxes					49,651
Income Tax Expense					(10,225)
Net Income					$	39,426

We do not rely on any operating segment asset allocations and do not consider them meaningful because of the shared nature of our production facilities; however, we have estimated the segment asset allocations below for those assets for which we can reasonably determine. The unallocated asset category is the remainder of our total assets. The asset allocation is estimated and is not a measure used by our chief operating decision maker about allocating resources to the operating segments or in assessing their performance.


	As of July 31,
	Assets
	2026		2025
	(in thousands)
Business to Business Products	$	104,325	$	104,857
Retail and Wholesale Products	217,787		200,644
Unallocated assets	106,674		86,723
Total Assets	$	428,786	$	392,224