Company: CHEF
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001517175-25-000021
Chunk: 46

Company: Chefs' Warehouse, Inc.
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 8
Chunk 46
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%$1,703,058 61.7 %Total net sales$1,021,319 100 %$931,452 100 %$3,006,973 100 %$2,760,644 100 %The Company determines its product category classification based on how the Company currently markets its products to its customers. The Company’s definition of its principal product categories may differ from the way in which other companies present similar information. Net sales by product category includes estimates of product mix for certain locations that are not yet fully integrated into the Company’s sales reporting system as of the reporting date.Share RepurchasesThe Company has a share repurchase program that is executed through purchases made from time to time either in the open market or through private market transactions. During the thirty-nine weeks ended September 26, 2025 and September 27, 2024, shares purchased were retired and returned to the status of authorized and unissued shares.Recent Accounting PronouncementsTargeted Improvements to the Accounting for Internal-Use Software: In September 2025, the Financial Accounting Standards Board (“FASB”) issued guidance amending the requirements for capitalizing software costs to when both the following conditions are met: (1) the funding of the project has the appropriate authorization and (2) it is probable that the project will be completed and the software will be used to perform the intended function. The guidance is effective for fiscal years beginning after December 15, 2027, and interim periods within that fiscal year, and may be applied on a prospective, modified prospective or retrospective basis. Early adoption is permitted. The Company expects to adopt this guidance when effective and is evaluating the impact of adoption on its consolidated financial statements.Measurements of Credit Losses for Accounts Receivable and Contract Assets: In July 2025, the FASB issued guidance to provide a practical expedient related to the estimation of expected credit losses for current accounts receivable and current contract assets to assume that current conditions as of the balance sheet date will persist through a reasonable and supportable forecast period. The guidance is effective for fiscal years beginning after December 15, 2025, and interim periods within that fiscal year. Early adoption is permitted. The Company expects to adopt this guidance when effective and adoption is not expected to have a material impact on its consolidated financial statements.Induced Conversions of Convertible Debt Instruments: In November 2024, the FASB issued guidance which clarifies the requirements for determining whether certain settlements of