Company: BRID
Filing Date: 2025-06-02
Form Type: 10-Q
Source: 0001641172-25-013252
Chunk: 76

Company: BRIDGFORD FOODS CORP
Filing Date: 2025-06-02
Form: 10-Q
Item: Part I, Item 8
Chunk 76
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ack Food Products segment increased by $2,606 (9.6%) to $29,698 in the second twelve-week period of the 2025
fiscal year compared to the same twelve-week period in fiscal year 2024 due to higher meat commodity costs. The cost of meat commodities
increased by approximately $1,435 due to a limited supply of cattle ready for market and other unfavorable market conditions in the second
twelve-week period of fiscal year 2025 compared to the same period in fiscal year 2024. The gross margin decreased to 20.4% in the second
twelve-weeks of fiscal year 2025 compared to 21.3% in the same twelve-week period in fiscal year 2024. We maintain a net realizable reserve
of $1,804 on products as of April 18, 2025, after determining that the market value on some meat products could not cover the costs associated
with completion and sale of the product. We increased our net realizable value reserve by $391 during the twelve weeks ended April 18,
2025. Freight costs increased by $339 during the second twelve-week period of the 2025 fiscal year compared to the same twelve-week period
in the prior year.

Selling,
General and Administrative Expenses-Consolidated

Selling,
general and administrative expenses (“SG&A”) increased by $312 (2.2%) to $14,286 in the second twelve-week period of
fiscal year 2025 compared to the same twelve-week period in the prior fiscal year. The table below summarizes the significant expense
increases (decreases) included in this category:

    12 Weeks Ended  
    Expense 

    April 18, 2025  
    April 19, 2024  
    Increase (Decrease) 
  
    Wages and bonus 
    $5,203  
    $4,814  
    $389 
  
    Vehicle repairs 
     123  
     455  
     (332)
  
    Healthcare costs 
     904  
     656  
     248 
  
    Product advertising 
     2,101  
     2,318  
     (217)
  
    Other SG&A 
     5,955  
     5,731  
     224 
  
    Total - SG&A 
    $14,286  
    $13,974