Company: CHEF
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001517175-25-000008
Chunk: 26

Company: Chefs' Warehouse, Inc.
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 1
Chunk 26
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 amount up to $100.0 million, targeting $25.0 million to $100.0 million of share repurchases by the end of fiscal 2025. During the thirteen weeks ended March 29, 2024, we repurchased 134,553 shares of our common stock at an average purchase price of $37.16 per share. The share repurchases were funded by our available cash. There were no share repurchases during the thirteen weeks ended March 28, 2025. The remaining share purchase authorization was $82.6 million at March 28, 2025. We are not obligated to repurchase any specific number of shares and may suspend or discontinue the program at any time.

Liquidity

The following table presents selected financial information on liquidity: 

March 28, 2025December 27, 2024Cash and cash equivalents$116,530 $114,655 Working capital(1), excluding cash and cash equivalents311,226 327,992 Availability under asset-based loan facility162,425 146,674 

(1) We define working capital as current assets less current liabilities.

We expect our capital expenditures, excluding cash paid for acquisitions, for fiscal 2025 will be approximately $40.0 million to $50.0 million. We believe our existing balances of cash and cash equivalents, working capital and the availability under our asset-based loan facility, are sufficient to satisfy our working capital needs, capital expenditures, debt service and other liquidity requirements associated with our current operations over the next twelve months.

17

Cash Flows

The following table presents selected financial information on cash flows: 

Thirteen Weeks EndedMarch 28, 2025March 29, 2024Net cash provided by operating activities$49,566 $30,900 Net cash used in investing activities(12,344)(17,381)Net cash used in financing activities(35,412)(21,252)

Our cash provided by operating activities is predominately driven by net sales to our customers. Our cash used in operating activities is primarily driven by our payments to suppliers for our inventory, employee compensation, payments to support our facilities, our distribution network, interest on our indebtedness, payments to tax authorities and other general corporate expenditures. Net cash provided by operations was $49.6 million for the thirteen weeks ended March 28, 2025 compared to $30.9 million for the thirteen weeks ended March 29, 2024. The