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Business Segment Information
9 Months Ended
Mar. 31, 2024
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. 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 national chain restaurant accounts. 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 March 31, 2024 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 
March 31,
Nine Months Ended 
March 31,
 2024202320242023
Net Sales
Retail$248,054 $247,208 $754,230 $729,187 
Foodservice223,392 217,727 664,704 638,679 
Total$471,446 $464,935 $1,418,934 $1,367,866 
Operating Income
Retail$47,313 $36,943 $159,958 $129,195 
Foodservice24,334 22,405 78,112 81,030 
Nonallocated Restructuring and Impairment Charges (1)
(12,137)— (12,137)— 
Corporate Expenses(24,364)(29,940)(68,258)(80,192)
Total$35,146 $29,408 $157,675 $130,033 
(1)Reflects restructuring and impairment charges related to our decision to exit our perimeter-of-the-store bakery product lines; these charges 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,
 2024202320242023
Retail
Shelf-stable dressings, sauces and croutons$113,569 $116,246 $307,318 $301,995 
Frozen breads82,459 85,165 283,785 275,447 
Refrigerated dressings, dips and other52,026 45,797 163,127 151,745 
Total Retail net sales$248,054 $247,208 $754,230 $729,187 
Foodservice
Dressings and sauces$165,779 $163,851 $493,780 $475,766 
Frozen breads and other57,613 53,876 170,924 162,913 
Total Foodservice net sales$223,392 $217,727 $664,704 $638,679 
Total net sales$471,446 $464,935 $1,418,934 $1,367,866 
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,
 2024202320242023
Foodservice
National accounts$173,066 $172,304 $515,536 $504,310 
Branded and other50,326 45,423 149,168 134,369 
Total Foodservice net sales$223,392 $217,727 $664,704 $638,679