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BUSINESS SEGMENTS | 3 Months Ended
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Nov. 01, 2025
Segment Reporting [Abstract] |
BUSINESS SEGMENTS | NOTE 14—BUSINESS SEGMENTS As disclosed in the Annual Report, the Company updated its segment reporting structure effective for the fourth quarter of fiscal 2025 to reflect organizational changes and align with how the business is now operated and managed. The Company has three reportable segments: Natural, Conventional and Retail. Prior periods have been recast to conform to the new reportable operating segments. Reportable segments are reviewed on an annual basis, or more frequently if events or circumstances indicate a change in reportable segments has occurred. The Natural reportable segment is engaged in the wholesale distribution of natural, organic and specialty grocery and non-food products and services and includes the Company’s portfolio of natural owned brands and natural and organic snack food manufacturing business. The Conventional reportable segment is engaged in the wholesale distribution of conventional grocery and non-food products and services and includes the Company’s portfolio of conventional owned brands. The Retail reportable segment derives revenues from the sale of groceries and other products at the Company’s grocery and liquor stores operating under the Cub® Foods and Shoppers® banners. Intersegment sales represent sales between the segments, which are eliminated in consolidation. Intersegment transactions are generally recorded at amounts that approximate market value. The Company’s Chief Operating Decision Maker (“CODM”) is the Chief Executive Officer. The Company’s CODM uses segment Adjusted EBITDA as the measure of segment profitability to assess the performance and core business trends of each segment through regular review of financial information, and when making decisions about the allocation of resources to each segment. The Company’s CODM uses segment Adjusted EBITDA primarily as a part of the annual budget and forecasting process. Segment Adjusted EBITDA includes revenues and costs attributable to each of the respective business segments and certain allocated corporate expenses, based on the segment’s estimated consumption of corporately managed resources. Corporate and Other includes a portion of centrally-managed corporate functions, which include, but are not limited to, corporate legal operations, investor relations, treasury, certain enterprise-wide information technology and other corporate operating expenses that are not integral to segment performance. Corporate and Other excludes items such as restructuring, acquisition and integration related expenses and share-based compensation. These items are excluded from the definition of Adjusted EBITDA and are added back to reconcile segment Adjusted EBITDA to Loss before income taxes. The Company does not report total assets by segment for internal or external reporting purposes as the Company’s CODM does not assess performance or allocate resources based on segment assets. Additionally, the Company does not record its revenues within its Natural nor Conventional reportable segments for financial reporting purposes by product group, and it is therefore impracticable for it to report them accordingly. The following tables provide financial information for each reportable segment and Corporate and Other, along with a reconciliation to Loss before income taxes:
| 13-Week Period Ended November 1, 2025
(in millions) | Natural |  | Conventional |  | Retail |  | Corporate and Other |  | Consolidated Totals
Net sales (revenues from external customers) | $ | 4,229 |  |  | $ | 3,057 |  |  | $ | 554 |  |  | $ | — |  |  | $ | 7,840 |
Intersegment Net sales | 11 |  |  | 268 |  |  | — |  |  | — |  |  | 279 |
| 4,240 |  |  | 3,325 |  |  | 554 |  |  | — |  |  | $ | 8,119 |
Elimination of intersegment Net sales |  |  |  |  |  |  |  |  | (279) |
Net sales |  |  |  |  |  |  |  |  | $ | 7,840 |
Less: |  |  |  |  |  |  |  |  |
Cost of sales(1) | 3,692 |  |  | 2,951 |  |  | 420 |  |  | — |  |  |
Distribution expenses(1) | 331 |  |  | 226 |  |  | — |  |  | — |  |  |
Other(2) | 90 |  |  | 78 |  |  | 143 |  |  | 21 |  |  |
Adjusted EBITDA | 127 |  |  | 70 |  |  | (9) |  |  | (21) |  |  | $ | 167 |
Adjustments: |  |  |  |  |  |  |  |  |
Net income attributable to noncontrolling interests |  |  |  |  |  |  |  |  | — |
Net periodic benefit income, excluding service cost |  |  |  |  |  |  |  |  | 6 |
Interest expense, net |  |  |  |  |  |  |  |  | (34) |
Other income, net |  |  |  |  |  |  |  |  | — |
Depreciation and amortization |  |  |  |  |  |  |  |  | (77) |
Share-based compensation |  |  |  |  |  |  |  |  | (11) |
LIFO benefit |  |  |  |  |  |  |  |  | (5) |
Restructuring, acquisition, and integration related expenses |  |  |  |  |  |  |  |  | (22) |
Loss on sale of assets and other asset charges |  |  |  |  |  |  |  |  | (14) |
Business transformation costs |  |  |  |  |  |  |  |  | (4) |
Cybersecurity incident |  |  |  |  |  |  |  |  | (4) |
Other adjustments |  |  |  |  |  |  |  |  | (11) |
Loss before income taxes |  |  |  |  |  |  |  |  | $ | (9) |
Other Segment Disclosures: |  |  |  |  |  |  |  |  |
Depreciation and amortization | $ | 26 |  |  | $ | 42 |  |  | $ | 9 |  |  | $ | — |  |  | $ | 77 |
Payments for capital expenditures | $ | 9 |  |  | $ | 5 |  |  | $ | 2 |  |  | $ | — |  |  | $ | 16 |
(1)The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. (2)Other segment items for each reportable segment include: •Natural and Conventional – other operating costs such as selling, general and administrative expenses and certain allocated corporate costs •Retail – other operating costs such as store compensation and occupancy costs, selling and administrative expenses as well as an adjustment for Net income attributable to noncontrolling interests, which is excluded from Adjusted EBITDA
| 13-Week Period Ended November 2, 2024(1)
(in millions) | Natural |  | Conventional |  | Retail |  | Corporate and Other |  | Consolidated Totals
Net sales (revenues from external customers) | $ | 3,821 |  |  | $ | 3,464 |  |  | $ | 586 |  |  | $ | — |  |  | $ | 7,871 |
Intersegment Net sales | 17 |  |  | 300 |  |  | — |  |  | — |  |  | 317 |
| 3,838 |  |  | 3,764 |  |  | 586 |  |  | — |  |  | $ | 8,188 |
Elimination of intersegment Net sales |  |  |  |  |  |  |  |  | (317) |
Net sales |  |  |  |  |  |  |  |  | $ | 7,871 |
Less: |  |  |  |  |  |  |  |  |
Cost of sales(2) | 3,326 |  |  | 3,379 |  |  | 438 |  |  | — |  |  |
Distribution expenses(2) | 308 |  |  | 251 |  |  | — |  |  | — |  |  |
Other(3) | 102 |  |  | 89 |  |  | 147 |  |  | 14 |  |  |
Adjusted EBITDA | 102 |  |  | 45 |  |  | 1 |  |  | (14) |  |  | $ | 134 |
Adjustments: |  |  |  |  |  |  |  |  |
Net income attributable to noncontrolling interests |  |  |  |  |  |  |  |  | 1 |
Net periodic benefit income, excluding service cost |  |  |  |  |  |  |  |  | 5 |
Interest expense, net |  |  |  |  |  |  |  |  | (36) |
Other income, net |  |  |  |  |  |  |  |  | 2 |
Depreciation and amortization |  |  |  |  |  |  |  |  | (80) |
Share-based compensation |  |  |  |  |  |  |  |  | (7) |
LIFO benefit |  |  |  |  |  |  |  |  | (7) |
Restructuring, acquisition, and integration related expenses |  |  |  |  |  |  |  |  | (12) |
Loss on sale of assets and other asset charges |  |  |  |  |  |  |  |  | (6) |
Business transformation costs |  |  |  |  |  |  |  |  | (18) |
Loss before income taxes |  |  |  |  |  |  |  |  | $ | (24) |
Other Segment Disclosures: |  |  |  |  |  |  |  |  |
Depreciation and amortization | $ | 25 |  |  | $ | 45 |  |  | $ | 9 |  |  | $ | 1 |  |  | $ | 80 |
Payments for capital expenditures | $ | 38 |  |  | $ | 9 |  |  | $ | 2 |  |  | $ | — |  |  | $ | 49 |
(1)Prior periods have been recast to conform to the Company’s new reportable operating segments effective for the fourth quarter of fiscal 2025. There was no impact to the Company’s consolidated results. (2)The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. (3)Other segment items for each reportable segment include: •Natural and Conventional – other operating costs such as selling, general and administrative expenses and certain allocated corporate costs •Retail – other operating costs such as store compensation and occupancy costs, selling and administrative expenses as well as an adjustment for Net income attributable to noncontrolling interests, which is excluded from Adjusted EBITDA

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- Definition The entire disclosure for reporting segments including data and tables. 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