BUSINESS SEGMENTS

9 Months Ended

Apr. 30, 2016

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 importing, roasting, packaging, and distributing of nuts, dried fruit, seeds, trail mixes, granola, natural and organic snack items and confections, and the Company’s branded 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 new national platform, these corporate expense amounts have increased, which is the primary driver behind the increasing 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 April 30, 2016:
Net sales	$	2,111,695	$	70,217		$	(49,808	)	$	—		$	2,132,104
Operating income (loss)	62,682		3,811			(477		)	—			66,016
Interest expense	—		—			—			4,384			4,384
Interest income	—		—			—			(487		)	(487		)
Other, net	—		—			—			(557		)	(557		)
Income before income taxes												62,676
Depreciation and amortization	20,976		(2,856		)	—			—			18,120
Capital expenditures	8,340		261			—			—			8,601
Goodwill	301,600		17,732			—			—			319,332
Total assets	2,475,054		192,282			(21,404		)	—			2,645,932
Three months ended May 2, 2015:
Net sales	$	2,093,384	$	57,415		$	(36,156	)	$	—		$	2,114,643
Operating income (loss)	75,181		(6,096		)	(113		)	—			68,972
Interest expense	—		—			—			3,920			3,920
Interest income	—		—			—			(123		)	(123		)
Other, net	—		—			—			(4,396		)	(4,396		)
Income before income taxes												69,571
Depreciation and amortization	15,751		1,798			—			—			17,549
Capital expenditures	41,569		812			—			—			42,381
Goodwill	250,798		17,731			—			—			268,529
Total assets	2,387,329		185,855			(14,863		)	—			2,558,321

	Wholesale		Other			Eliminations			Unallocated			Consolidated
Nine months ended April 30, 2016:
Net sales	$	6,200,668	$	181,709		$	(125,912	)	$	—		$	6,256,465
Restructuring and asset impairment expenses	2,811		1,983			—			—			4,794
Operating income (loss)	172,549		(9,563		)	(1,363		)	—			161,623
Interest expense	—		—			—			11,734			11,734
Interest income	—		—			—			(1,037		)	(1,037		)
Other, net	—		—			—			373			373
Income before income taxes												150,553
Depreciation and amortization	52,531		(1,564		)	—			—			50,967
Capital expenditures	27,637		1,436			—			—			29,073
Goodwill	301,600		17,732			—			—			319,332
Total assets	2,475,054		192,282			(21,404		)	—			2,645,932
Nine months ended May 2, 2015:
Net sales	$	6,061,161	$	165,142		$	(102,638	)	$	—		$	6,123,665
Restructuring and asset impairment expenses	803		—			—			—			803
Operating income (loss)	199,241		(22,893		)	520			—			176,868
Interest expense	—		—			—			10,729			10,729
Interest income	—		—			—			(285		)	(285		)
Other, net	—		—			—			(3,785		)	(3,785		)
Income before income taxes												170,209
Depreciation and amortization	43,149		4,057			—			—			47,206
Capital expenditures	96,239		2,305			—			—			98,544
Goodwill	250,798		17,731			—			—			268,529
Total assets	2,387,329		185,855			(14,863		)	—			2,558,321