Company: BRID
Filing Date: 2025-08-22
Form Type: 10-Q
Source: 0001493152-25-012266
Chunk: 33

Company: BRIDGFORD FOODS CORP
Filing Date: 2025-08-22
Form: 10-Q
Item: Part I, Item 1
Chunk 33
---
-Consolidated

Income
tax for the twelve weeks ended July 11, 2025, and July 12, 2024, respectively, was as follows:

    July
    11, 2025  
    July
    12, 2024 
  
    Benefit
    on income taxes 
    $(915) 
    $(752)

    Effective tax rate 
     35.8% 
     29.8%

We
recorded a benefit on income taxes of $915 for the twelve-week period ended July 11, 2025, and a benefit on income taxes of $752 for
the twelve-week period ended July 12, 2024, related to federal and state taxes, based on the Company’s expected annual effective
tax rate. The effective income tax rate differed from the applicable mixed statutory rate of approximately 26.4% due to non-deductible
meals and entertainment, non-taxable gains and losses on life insurance policies, and state income taxes.

Results
of Operations for the Thirty-Six Weeks Ended July 11, 2025, and July 12, 2024

Net
Sales-Consolidated

Net
sales increased by $3,719 (2.5%) to $155,138 in the thirty-six-week period ended July 11, 2025, compared to the same thirty-six-week
period in fiscal year 2024. The changes in net sales were comprised as follows:

    Impact on
    Net Sales-Consolidated 
    %  
    $ 
  
    Selling price per pound 
     4.0  
     6,727 
  
    Unit sales volume in pounds 
     -1.4  
     (2,290)
  
    Returns activity 
     -0.3  
     (543)
  
    Promotional activity 
     0.2  
     (175)
  
    Increase
    in net sales 
     2.5  
     3,719 

Net
Sales-Frozen Food Products Segment

Net
sales in the Frozen Food Products segment decreased marginally by $187 (0.5%) to $38,634 in the thirty-six-week period ended July 11,
2025, compared to the same thirty-six-week period in fiscal year 2024. The changes in net sales were comprised as follows:

    Impact on
    Net Sales-Frozen Food Products