BUSINESS SEGMENTS

9 Months Ended

May 03, 2014

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 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 importing, roasting and packaging of nuts, seeds, dried fruit, trail mixes, granola, natural and organic snack items, confections and the Company’s Blue Marble Brands product lines. “Other” also includes certain corporate operating expenses that are not allocated to operating divisions and are necessary to operate the Company’s headquarters located in Providence, Rhode Island, which include depreciation, salaries, retainers, and other related expenses of officers, directors, corporate finance (including professional services), information technology, governance, legal, human resources and internal audit. As the Company continues to expand its business and serve its customers through a national platform, these corporate expense amounts have increased. These unallocated corporate expenses are the primary driver behind the operating losses within the “Other” category below. Non-operating expenses that are not allocated to the operating divisions are under the caption of “Unallocated 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			Consolidated
Three months ended May 3, 2014:
Net sales	$	1,756,293		$	60,258		$	(34,822	)	$	—		$	1,781,729
Operating income (loss)	68,944			(5,717		)	(612		)	—			62,615
Interest expense	—			—			—			2,308			2,308
Interest income	—			—			—			(129		)	(129		)
Other, net	(217		)	—			—			—			(217		)
Income before income taxes													60,653
Depreciation and amortization	11,736			693			—			—			12,429
Capital expenditures	30,925			700			—			—			31,625
Goodwill	192,030			17,731			—			—			209,761
Total assets	1,901,662			149,234			(12,996		)	—			2,037,900
Three months ended April 27, 2013:
Net sales	$	1,548,419		$	49,146		$	(31,348	)	$	—		$	1,566,217
Operating income (loss)	62,603			(8,663		)	(83		)	—			53,857
Interest expense	—			—			—			1,591			1,591
Interest income	—			—			—			(133		)	(133		)
Other, net	—			—			—			121			121
Income before income taxes													52,278
Depreciation and amortization	9,629			669			—			—			10,298
Capital expenditures	14,371			356			—			—			14,727
Goodwill	186,172			17,731			—			—			203,903
Total assets	1,618,248			144,057			(10,850		)	—			1,751,455

	Wholesale		Other			Eliminations			Unallocated			Consolidated
Nine months ended May 3, 2014:
Net sales	$	4,966,470	$	153,988		$	(90,677	)	$	—		$	5,029,781
Operating income (loss)	180,606		(20,262		)	(858		)	—			159,486
Interest expense	—		—			—			5,944			5,944
Interest income	—		—			—			(374		)	(374		)
Other, net	404		—			—			—			404
Income before income taxes												153,512
Depreciation and amortization	33,642		1,785			—			—			35,427
Capital expenditures	106,928		1,017			—			—			107,945
Goodwill	192,030		17,731			—			—			209,761
Total assets	1,901,662		149,234			(12,996		)	—			2,037,900
Nine months ended April 27, 2013:
Net sales	$	4,373,880	$	131,909		$	(83,832	)	$	—		$	4,421,957
Operating income (loss)	159,668		(29,159		)	(1,106		)	—			129,403
Interest expense	—		—			—			3,942			3,942
Interest income	—		—			—			(474		)	(474		)
Other, net	—		—			—			5,103			5,103
Income before income taxes												120,832
Depreciation and amortization	29,572		1,670			—			—			31,242
Capital expenditures	33,483		1,270			—			—			34,753
Goodwill	186,172		17,731			—			—			203,903
Total assets	1,618,248		144,057			(10,850		)	—			1,751,455