BUSINESS SEGMENTS

12 Months Ended

Jul. 30, 2011

BUSINESS SEGMENTS

BUSINESS SEGMENTS

(15) 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 and snack items, and the Company's branded product lines. "Other" also includes certain corporate operating expenses that are not allocated to operating divisions, which consist of depreciation, salaries, retainers, and other related expenses of officers, directors, corporate finance (including professional services), information technology, governance, legal, human resources and internal audit that are necessary to operate the Company's headquarters located in Providence, Rhode Island, and formerly, in Dayville, Connecticut. 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.

        Following is business segment information for the periods indicated:

	Wholesale		Other			Eliminations			Unallocated Expenses			Consolidated
	(In thousands)
Fiscal year ended July 30, 2011
Net sales	$	4,472,694	$	162,731		$	(105,410	)				$	4,530,015
Operating income (loss)		161,952		(31,305	)		(966	)					129,681
Interest expense									$	5,000			5,000
Interest income										(1,226	)		(1,226	)
Other, net										(528	)		(528	)
Income before income taxes													126,435
Depreciation and amortization		33,520		1,776									35,296
Capital expenditures		38,035		2,743									40,778
Goodwill		174,612		17,331									191,943
Total assets		1,258,783		150,151			(7,946	)					1,400,988
Fiscal year ended July 31, 2010
Net sales	$	3,698,349	$	171,841		$	(113,051	)				$	3,757,139
Operating income (loss)		152,364		(38,108	)		646						114,902
Interest expense									$	5,845			5,845
Interest income										(247	)		(247	)
Other, net										(2,698	)		(2,698	)
Income before income taxes													112,002
Depreciation and amortization		24,744		2,739									27,483
Capital expenditures		51,495		3,614									55,109
Goodwill		169,594		17,331									186,925
Total assets		1,099,962		159,814			(8,977	)					1,250,799
Fiscal year ended August 1, 2009
Net sales	$	3,392,984	$	142,769		$	(80,853	)				$	3,454,900
Operating income (loss)		128,998		(20,639	)		1,562						109,921
Interest expense									$	9,914			9,914
Interest income										(450	)		(450	)
Other, net										275			275
Income before income taxes													100,182
Depreciation and amortization		23,333		3,696									27,029
Capital expenditures		27,342		5,011									32,353
Goodwill		146,970		17,363									164,333
Total assets		942,845		123,908			(8,203	)					1,058,550