Company: BRID
Filing Date: 2025-01-29
Form Type: 10-K
Source: 0001493152-25-004182
Chunk: 132

Company: BRIDGFORD FOODS CORP
Filing Date: 2025-01-29
Form: 10-K
Item: Item 1B
Chunk 132
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 program, we are authorized,
at the discretion of management and our Board of Directors, to purchase up to an aggregate of 2,000,000 shares of our common stock on
the open market. During fiscal years 2024 and 2023, we did not repurchase any shares of our common stock pursuant to our stock repurchase
program previously authorized by the Board of Directors. As of November 1, 2024, 120,113 shares remained authorized for repurchase under
the program.

Item 6. [Reserved]

 11 

Item 7. Management’s Discussion and
Analysis of Financial Condition and Results of Operations

For a complete understanding,
this Management’s Discussion and Analysis of Financial Condition and Results of Operations should be read in conjunction with the
Consolidated Financial Statements and Notes to the Consolidated Financial Statements contained in this Report.

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 
    %