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Business Segment Information
9 Months Ended
Mar. 31, 2022
Segment Reporting [Abstract]  
Business Segment Information Business Segment Information
Our financial results are presented as two reportable segments: Retail and Foodservice. Costs that are directly attributable to either Retail or Foodservice are charged directly to the appropriate segment. Costs that are deemed to be indirect, excluding corporate expenses and other unusual significant transactions, are allocated to the two reportable segments using a reasonable methodology that is consistently applied.
Retail - The vast majority of the products we sell in the Retail segment are sold through sales personnel, food brokers and distributors in the United States. We have placement of products in grocery produce departments through our refrigerated salad dressings, vegetable dips and fruit dips. Our flatbread products and sprouted grain bakery products are generally placed in the specialty bakery/deli section of the grocery store. We also have products typically marketed in the shelf-stable section of the grocery store, which include salad dressings, slaw dressing, sauces and croutons. Within the frozen food section of the grocery store, we sell yeast rolls, garlic breads and mini stuffed bagels.
Foodservice - The vast majority of the products we sell in the Foodservice segment are sold through sales personnel, food brokers and distributors in the United States. Most of the products we sell in the Foodservice segment are custom-formulated and include salad dressings, sandwich and dipping sauces, frozen breads and yeast rolls. The majority of our Foodservice sales are products sold under private label to restaurants. We also manufacture and sell various branded Foodservice products to distributors. Finally, within this segment, we sold other roll products under a temporary supply agreement resulting from the acquisition of Omni Baking Company LLC. The temporary supply agreement was terminated effective October 31, 2020.
As many of our products are similar between our two segments, our procurement, manufacturing, warehousing and distribution activities are substantially integrated across our operations in order to maximize efficiency and productivity. Consequently, we do not prepare, and our Chief Operating Decision Maker does not review, separate balance sheets for the reportable segments. As such, our external reporting does not include the presentation of identifiable assets by reportable segment. The composition of our identifiable assets at March 31, 2022 is generally consistent with that of June 30, 2021. However, due to the decrease in cash and equivalents, the amount of Corporate assets has decreased as compared to June 30, 2021.
We evaluate our Retail and Foodservice segments based on net sales and operating income which follow:
 Three Months Ended 
March 31,
Nine Months Ended 
March 31,
 2022202120222021
Net Sales
Retail$213,128 $198,358 $682,102 $614,653 
Foodservice190,366 158,891 541,875 466,848 
Total$403,494 $357,249 $1,223,977 $1,081,501 
Operating Income
Retail$22,213 $41,179 $119,997 $144,557 
Foodservice18,556 21,088 52,690 66,845 
Nonallocated Restructuring and Impairment Charges (1)
(22,723)— (23,749)— 
Corporate Expenses(25,663)(24,879)(70,738)(66,468)
Total$(7,617)$37,388 $78,200 $144,934 
(1)Reflects restructuring and impairment charges related to the Bantam business and a facility closure, which were not allocated to our two reportable segments due to their unusual nature.
The following table sets forth net sales disaggregated by class of similar products for the Retail and Foodservice segments:
 Three Months Ended 
March 31,
Nine Months Ended 
March 31,
 2022202120222021
Retail
Shelf-stable dressings, sauces and croutons$94,578 $75,773 $272,439 $199,292 
Frozen breads73,328 73,628 258,426 250,157 
Refrigerated dressings, dips and other45,222 48,957 151,237 165,204 
Total Retail net sales$213,128 $198,358 $682,102 $614,653 
Foodservice
Dressings and sauces$143,156 $120,925 $403,953 $347,101 
Frozen breads and other47,210 37,966 137,922 116,040 
Other roll products —  3,707 
Total Foodservice net sales$190,366 $158,891 $541,875 $466,848 
Total net sales$403,494 $357,249 $1,223,977 $1,081,501 
The following table provides an additional disaggregation of Foodservice net sales by type of customer:
 Three Months Ended 
March 31,
Nine Months Ended 
March 31,
 2022202120222021
Foodservice
National accounts$146,959 $124,323 $414,840 $359,228 
Branded and other43,407 34,568 127,035 103,913 
Other roll products —  3,707 
Total Foodservice net sales$190,366 $158,891 $541,875 $466,848