Company: BRID
Filing Date: 2025-01-29
Form Type: 10-K
Source: 0001493152-25-004182
Chunk: 296

Company: BRIDGFORD FOODS CORP
Filing Date: 2025-01-29
Form: 10-K
Item: Item 3
Chunk 296
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Certain statements under “Management’s
Discussion and Analysis of Financial Condition and Results of Operations” and elsewhere in this Report constitute forward-looking
statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934 (refer to Part I, Item 1. Business
for more information).

Results of Operations (dollars in thousands)

Fiscal Year Ended November 1, 2024 (52 weeks)
Compared to Fiscal Year Ended November 3, 2023 (53 weeks)

Net Sales-Consolidated

Net sales in fiscal year 2024 decreased $27,991
(11.1%) when compared to the prior fiscal year. The changes in net sales were comprised as follows:

    Impact on Net Sales-Consolidated 
    %  
    $ 
  
    Selling price per pound 
     -0.4  
     (1,138)
  
    Unit sales volume in pounds 
     -8.8  
     (23,988)
  
    Returns activity 
     -0.1  
     377 
  
    Promotional activity 
     -1.8  
     (3,242)
  
    Decrease in net sales 
     -11.1  
     (27,991)

Net Sales-Frozen Food Products Segment

Net sales in the Frozen Food Products segment
in fiscal year 2024 increased $770 (1.3%) compared to the prior fiscal year. The changes in net sales were comprised as follows:

    Impact on Net Sales-Frozen Food Products 
    %  
    $ 
  
    Selling price per pound 
     3.2  
     2,117 
  
    Unit sales volume in pounds 
     -1.3  
     (837)
  
    Returns activity 
     0.3  
     177 
  
    Promotional activity 
     -0.9  
     (687)
  
    Increase in net sales 
     1.3  
     770 

The increase in net sales for fiscal year 2024
primarily relates to higher selling prices per pound partially offset by lower unit sales volume in pounds. The increase in net sales
was primarily driven by a significant increase in volume to institutional customers and an increase in selling price per pound due to
price increases implemented during the fourth quarter of fiscal year 2023. Other institutional Frozen Food Products