Company: BRID
Filing Date: 2025-06-02
Form Type: 10-Q
Source: 0001641172-25-013252
Chunk: 35

Company: BRIDGFORD FOODS CORP
Filing Date: 2025-06-02
Form: 10-Q
Item: Part I, Item 1
Chunk 35
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 approximately
$2,280 due to higher pressure on the commodity market. We increased our net realizable value reserve by $338 during the twenty-four weeks
ended April 18, 2025, in consideration of higher meat commodity costs and lower gross margins. 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.

Selling,
General and Administrative Expenses-Consolidated

Selling,
general and administrative expenses increased by $197 (0.7%) to $29,198 in the twenty-four-week period ended April 18, 2025, compared
to the same twenty-four-week period in the prior fiscal year. The table below summarizes the significant expense increases (decreases)
included in this category:

    24 Weeks Ended  
    Expense 

    April 18, 2025  
    April 19, 2024  
    Increase (Decrease) 
  
    Product advertising 
    $3,360  
    $3,875  
    $(515)
  
    Vehicle repairs 
     404  
     885  
     (481)
  
    Provision for bad debt 
     343  
     (132) 
     475 
  
    Healthcare costs 
     1,779  
     1,448  
     331 
  
    Wages and bonus 
     10,989  
     10,748  
     241 
  
    Outside storage 
     659  
     876  
     (217)
  
    Travel expenses 
     1,405  
     1,222  
     183 
  
    Other SG&A 
     10,259  
     10,079  
     180 
  
    Total - SG&A 
    $29,198  
    $29,001  
    $197 

Product
advertising decreased mainly due to renegotiation of commission percentages with brokers in the Frozen Food Products segment and decreased
fees paid under brand licensing agreements in the Snack Food Products segment during the twenty-four weeks ended April 18, 2025. Vehicle
repairs and maintenance decreased compared to the prior year mainly due to replacing aging vehicles throughout the fiscal year. The provision
for bad debt increased due to