Business Segment Information

3 Months Ended

Sep. 30, 2023

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 and garlic breads.

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.

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 September 30, 2023 is generally consistent with that of June 30, 2023.

We evaluate our Retail and Foodservice segments based on net sales and operating income which follow:

	Three Months Ended  September 30,
	2023		2022
Net Sales
Retail	$	242,184	$	223,216
Foodservice	219,388		202,321
Total	$	461,572	$	425,537
Operating Income
Retail	$	53,124	$	42,900
Foodservice	26,633		31,929
Corporate Expenses	(22,982)		(25,531)
Total	$	56,775	$	49,298

The following table sets forth net sales disaggregated by class of similar products for the Retail and Foodservice segments:

	Three Months Ended  September 30,
	2023		2022
Retail
Shelf-stable dressings, sauces and croutons	$	98,581	$	91,038
Frozen breads	79,630		72,858
Refrigerated dressings, dips and other	63,973		59,320
Total Retail net sales	$	242,184	$	223,216
Foodservice
Dressings and sauces	$	165,271	$	151,060
Frozen breads and other	54,117		51,261
Total Foodservice net sales	$	219,388	$	202,321
Total net sales	$	461,572	$	425,537

The following table provides an additional disaggregation of Foodservice net sales by type of customer:

	Three Months Ended  September 30,
	2023		2022
Foodservice
National accounts	$	171,586	$	160,192
Branded and other	47,802		42,129
Total Foodservice net sales	$	219,388	$	202,321