Company: CHEF
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001517175-25-000008
Chunk: 1

Company: Chefs' Warehouse, Inc.
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 2
Chunk 1
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 growth as there was no impact from acquisitions. Case count increased approximately 5.7% in our specialty category. In addition, unique customers and placements in our specialty category increased 4.5% and 7.7%, respectively, compared to the prior year period. Pounds sold in our center-of-the-plate category decreased 1.3% compared to the prior year. Estimated inflation was 4.8% in our specialty category and 5.9% in our center-of-the-plate category compared to the prior year period.

Gross Profit

20252024$ Change% ChangeGross profit$225,995 $209,436 $16,559 7.9 %Gross profit margin23.8 %23.9 %

Gross profit dollars increased primarily as a result of increased sales and price inflation. Gross profit margin decreased approximately 18 basis points. Gross profit margins increased 6 basis points in the Company’s specialty category and decreased 83 basis points in the Company’s center-of-the-plate category. 

Selling, General and Administrative Expenses

20252024$ Change% ChangeSelling, general and administrative expenses$202,763 $190,321 $12,442 6.5 %Percentage of net sales21.3 %21.8 %

The increase in selling, general and administrative expenses was primarily due to higher costs associated with compensation and benefits, facilities and distribution to support sales growth and higher depreciation expense driven by facility investments. Our ratio of selling, general and administrative expenses to net sales decreased 50 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, net$497 $3,112 $(2,615)(84.0)%

Other operating expenses, net decreased by $2.6 million primarily due to lower employee severance charges incurred in the current quarter compared to the prior year quarter.

Interest Expense

20252024$ Change% ChangeInterest expense$10,253 $13,244 $(2,991)(22.6)%

Interest expense decreased primarily due to lower aggregate principal amounts of debt outstanding and lower interest rates in the current quarter compared to the prior year quarter.

16

Provision for Income Tax Expense

20252024$ Change% ChangeProvision for income tax expense$2,194 $828 $1,366 165.0