Company: UTZ
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001739566-25-000111
Chunk: 38

Company: Utz Brands, Inc.
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 38
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 and Non-Branded & Non-Salty Snacks totaled 87% and 13% of our net sales, respectively. For the thirteen weeks ended March 30, 2025 versus the comparable prior year period, Branded Salty Snacks net sales increased by 4.9% and Non-Branded & Non-Salty Snacks net sales decreased by 16.0%, of which 7.2% of the decrease relates to the Good Health and R.W. Garcia Sale in Non-Branded & Non-Salty Snacks due to its disposition in the prior year.  

Cost of goods sold and Gross profit

Gross profit was $118.2 million and $119.6 million for the thirteen weeks ended March 30, 2025 and March 31, 2024, respectively. Our gross profit margin was 33.6% for the thirteen weeks ended March 30, 2025 versus 34.5% for the thirteen weeks ended March 31, 2024. The decrease in gross profit and gross profit margin was primarily driven by promotional investments, and increased investments to support capacity expansions, distribution growth, and capabilities, partially offset by productivity benefits. Additionally, IO discounts increased to $44.7 million for the thirteen weeks ended March 30, 2025, up slightly from $44.4 million for the thirteen weeks ended March 31, 2024. 

Selling, distribution, and administrative expense

Selling, distribution, and administrative expenses were $113.2 million and $109.4 million for the thirteen weeks ended March 30, 2025 and March 31, 2024, respectively, resulting in an increase of $3.8 million or 3.5% for the thirteen weeks ended March 30, 2025 versus the comparable prior year period. The increase in selling, distribution, and administrative expense is primarily due to higher people, selling, and delivery costs to support growth.  

Gain (loss) on sale of assets

Gain (loss) on sale of assets was $0.7 million and $(0.5) million for the thirteen weeks ended March 30, 2025 and March 31, 2024, respectively. 

Other (expense) income, net

Other (expense) income, net was $(0.6) million and $19.3 million for the thirteen weeks ended March 30, 2025 and March