BUSINESS SEGMENTS

6 Months Ended

Jan. 28, 2017

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 our 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.

Beginning in the first quarter of fiscal 2017, a change in how the Company's chief operating decision maker assesses performance and allocates resources resulted in a change in how the Company allocates a portion of its corporate operating expenses, which were previously reported under the caption of "Other," in order to better support segment operations. The following table sets forth certain financial information for the Company's business segments. Prior year amounts have been reclassified to conform to current year presentation and include the impact of a change in the allocation of certain corporate operating expenses between the captions "Other" and "Wholesale." The amount reclassified is not considered to be material and is consistent with management's assessment of segment performance in fiscal 2017.

The following table reflects business segment information for the periods indicated (in thousands):

	Wholesale		Other			Eliminations			Unallocated			Consolidated
13-Week Period Ended January 28, 2017:
Net sales	$	2,271,289	$	51,377		$	(37,148	)	$	—		$	2,285,518
Operating income (loss)	52,562		(6,518		)	227			—			46,271
Interest expense	—		—			—			4,441			4,441
Interest income	—		—			—			(97		)	(97		)
Other, net	—		—			—			(101		)	(101		)
Income before income taxes												42,028
Depreciation and amortization	20,587		656			—			—			21,243
Capital expenditures	12,374		1,102			—			—			13,476
Goodwill	352,369		18,024			—			—			370,393
Total assets	2,677,578		220,598			(28,173		)	—			2,870,003
13-Week Period Ended January 30, 2016:
Net sales	$	2,029,351	$	53,685		$	(35,324	)	$	—		$	2,047,712
Restructuring and asset impairment expenses	1,492		493			—			—			1,985
Operating income (loss)	45,118		(4,018		)	603			—			41,703
Interest expense	—		—			—			3,602			3,602
Interest income	—		—			—			(398		)	(398		)
Other, net	—		—			—			757			757
Income before income taxes												37,742
Depreciation and amortization	15,472		671			—			—			16,143
Capital expenditures	12,175		709			—			—			12,884
Goodwill	247,499		17,731			—			—			265,230
Total assets	2,300,915		203,962			(17,859		)	—			2,487,018

	Wholesale		Other			Eliminations			Unallocated			Consolidated
26-Week Period Ended January 28, 2017:
Net sales	$	4,532,189	$	109,117		$	(77,424	)	$	—		$	4,563,882
Operating income (loss)	111,225		(11,686		)	71			—			99,610
Interest expense	—		—			—			8,963			8,963
Interest income	—		—			—			(196		)	(196		)
Other, net	—		—			—			282			282
Income before income taxes												90,561
Depreciation and amortization	41,278		1,180			—			—			42,458
Capital expenditures	20,729		1,945			—			—			22,674
Goodwill	352,369		18,024			—			—			370,393
Total assets	2,677,578		220,598			(28,173		)	—			2,870,003
26-Week Period Ended January 30, 2016:
Net sales	$	4,088,973	$	111,492		$	(76,104	)	$	—		$	4,124,361
Restructuring and asset impairment expenses	2,811		1,983			—			—			4,794
Operating income (loss)	105,432		(8,939		)	(886		)	—			95,607
Interest expense	—		—			—			7,350			7,350
Interest income	—		—			—			(550		)	(550		)
Other, net	—		—			—			930			930
Income before income taxes												87,877
Depreciation and amortization	31,555		1,292			—			—			32,847
Capital expenditures	19,297		1,175			—			—			20,472
Goodwill	247,499		17,731			—			—			265,230
Total assets	2,300,915		203,962			(17,859		)	—			2,487,018