Company: CHEF
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001628280-25-036589
Chunk: 53

Company: Chefs' Warehouse, Inc.
Filing Date: 2025-07-30
Form: 10-Q
Item: Item 8
Chunk 53
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% and 30.0% for the thirteen weeks ended June 27, 2025 and June 28, 2024, respectively. The effective tax rate for the thirteen weeks ended June 27, 2025 reflects the annual effective tax rate estimated for the full fiscal year.

Twenty-Six Weeks Ended June 27, 2025 Compared to Twenty-Six Weeks Ended June 28, 2024 

Net Sales

20252024$ Change% ChangeNet sales$1,985,654 $1,829,192 $156,462 8.6 %

Net sales increased due to organic growth as there was no impact from acquisitions. Case count increased approximately 4.5% in our specialty category. In addition, unique customers and placements in our specialty category increased 4.0% and 8.2%, respectively, compared to the prior year period. Pounds sold in our center-of-the-plate category decreased 2.7% compared to the prior year period, primarily due to our exit from a non-core commodity poultry program in fiscal 2025. Estimated inflation was 4.9% in our specialty category and 8.4% in our center-of-the-plate category compared to the prior year period.

Gross Profit

20252024$ Change% ChangeGross profit$480,334 $438,438 $41,896 9.6 %Gross profit margin24.2 %24.0 %

Gross profit dollars increased primarily as a result of sales growth and price inflation. Gross profit margin increased approximately 22 basis points. Gross profit margins increased 34 basis points in the Company’s specialty category and decreased 11 basis points in the Company’s center-of-the-plate category.

Selling, General and Administrative Expenses

20252024$ Change% ChangeSelling, general and administrative expenses$416,513 $385,155 $31,358 8.1 %Percentage of net sales21.0 %21.1 %

The increase in selling, general and administrative expenses was primarily due to higher costs associated with compensation and benefits to support sales growth, higher depreciation expense driven by facility and fleet investments and higher self-insurance expense. Our ratio of selling, general and administrative expenses to net sales decreased 10 basis points due to sales growth combined with certain benefits derived from our investments in our facility and distribution operations.

Other Operating Expenses, Net

20252024$ Change% ChangeOther operating expenses