Company: BRID
Filing Date: 2025-03-07
Form Type: 10-Q
Source: 0001493152-25-009592
Chunk: 28

Company: BRIDGFORD FOODS CORP
Filing Date: 2025-03-07
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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Consolidated

Selling,
general and administrative expenses (“SG&A”) decreased by $114 (0.8%) to $14,913 in the first 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 

    January 24, 2025  
    January 26, 2024  
    Increase (Decrease) 
  
    Provision for bad debt 
    $357  
    $(7) 
    $364 
  
    Product advertising 
     2,040  
     2,235  
     (195)
  
    Insurance expenses 
     288  
     459  
     (171)
  
    Other SG&A 
     12,228  
     12,340  
     (112)
  
    Total - SG&A 
    $14,913  
    $15,027  
    $(114)

The
provision for bad debt increased due to the credit losses related to the bankruptcy filing of one of our customers, Big Lots, in the
amount of $364. Lower sales commissions due to lower sales volume in pounds resulted in lower wages and bonus expenses in the first
twelve weeks of the 2025 fiscal year compared to the same period in the prior fiscal year. The decrease in insurance expenses was
driven by exiting unfavorable insurance policies early to take advantage of more competitive pricing. None of the changes
individually or as a group of expenses in “Other SG&A” were significant enough to merit separate disclosure. The
major components comprising the decrease of “Other SG&A” expenses were lower vehicle repairs and lower product
advertising partially offset by higher outside consulting fees.

Selling,
General and Administrative Expenses-Frozen Food Products Segment

SG&A
expenses in the Frozen Food Products segment decreased by $71 (2.1%) to $3,370 in the first twelve-week period of fiscal year 2025 compared
to the same twelve-week period in the prior fiscal year. The overall decrease in SG&A expenses was due to a decrease in insurance
expense and lower product advertising partially offset by higher healthcare expenses and outside consulting fees.

Selling,
General and Administrative Expenses-Snack Food Products Segment

SG&A
expenses in the Snack Food Products segment decreased by $43 (0.