Company: CHEF
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001517175-25-000008
Chunk: 24

Company: Chefs' Warehouse, Inc.
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 1
Chunk 24
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 products directly to consumers through our Allen Brothers subsidiary.

RESULTS OF OPERATIONS

Thirteen Weeks EndedMarch 28, 2025March 29, 2024Net sales$950,748 $874,488 Cost of sales724,753 665,052 Gross profit225,995 209,436 Selling, general and administrative expenses202,763 190,321 Other operating expenses, net497 3,112 Operating income22,735 16,003 Interest expense10,253 13,244 Income before income taxes12,482 2,759 Provision for income tax expense2,194 828 Net income$10,288 $1,931 

15

Thirteen Weeks Ended March 28, 2025 Compared to Thirteen Weeks Ended March 29, 2024 

Net Sales

20252024$ Change% ChangeNet sales$950,748 $874,488 $76,260 8.7 %

Net sales increased due to organic growth as there was no impact from acquisitions. Case count increased approximately 5.7% in our specialty category. In addition, unique customers and placements in our specialty category increased 4.5% and 7.7%, respectively, compared to the prior year period. Pounds sold in our center-of-the-plate category decreased 1.3% compared to the prior year. Estimated inflation was 4.8% in our specialty category and 5.9% in our center-of-the-plate category compared to the prior year period.

Gross Profit

20252024$ Change% ChangeGross profit$225,995 $209,436 $16,559 7.9 %Gross profit margin23.8 %23.9 %

Gross profit dollars increased primarily as a result of increased sales and price inflation. Gross profit margin decreased approximately 18 basis points. Gross profit margins increased 6 basis points in the Company’s specialty category and decreased 83 basis points in the Company’s center-of-the-plate category. 

Selling, General and Administrative Expenses

20252024$ Change% ChangeSelling, general and administrative expenses$202,763 $190,321 $12,442 6.5 %Percentage of net sales21.3 %21.8 %

The increase in selling, general and administrative expenses was primarily due to higher costs associated with compensation and benefits, facilities and distribution