XML 42 R15.htm IDEA: XBRL DOCUMENT v2.4.0.8
Segment Information
 9 Months Ended
Jun. 28, 2014
Segment Information [Abstract]  
Segment Information

I. SEGMENT INFORMATION

 

The Company operates one primary business segment, retail grocery sales.  The “Other” activities include fluid dairy and shopping center rentals.  The Company previously presented the fluid dairy and shopping center rentals as separate segments; however, these have now been combined as neither meets the criteria for separate disclosure in any period presented.  Prior year data has been recast to reflect the current segment presentation.  In addition, the Company has historically presented the revenue and expense of the shopping center rental segment “net” on the condensed consolidated statements of income.  In 2013, the Company concluded that the income and expense amounts associated with shopping center rentals should be presented as “gross” rather than “net”.  Accordingly the prior period condensed consolidated statements of income have been revised to eliminate the amounts presented as rental income, net while increasing net sales by $2.1 million and cost of goods sold by $1.8 million for the three months ended June 29, 2013.  The increase to net sales was $6.3 million and to cost of goods sold was $5.4 million for the nine months ended June 29, 2013.  Management does not believe that these corrections are material to the financial statements.  Information about the Company’s operations by lines of business (amounts in thousands) is as follows:  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

Three Months Ended

  

Nine Months Ended

 

  

June 28,

  

June 29,

  

June 28,

  

June 29,

 

 

2014

 

2013

 

2014

 

2013

Revenues from unaffiliated customers:

  

 

 

  

 

 

  

 

 

  

 

 

Grocery sales

  

$
938,386 

  

$
899,535 

  

$
2,756,920 

  

$
2,685,705 

Other

  

 
39,876 

  

 
34,480 

  

 
114,227 

  

 
103,982 

Total revenues from unaffiliated customers

  

$
978,262 

  

$
934,015 

  

$
2,871,147 

  

$
2,789,687 

 

  

 

 

  

 

 

  

 

 

  

 

 

Income from operations:

  

 

 

  

 

 

  

 

 

  

 

 

Grocery sales

  

$
30,229 

  

$
29,960 

  

$
78,678 

  

$
85,215 

Other

  

 
3,131 

  

 
2,943 

  

 
8,687 

  

 
8,891 

Total income from operations

  

$
33,360 

  

$
32,903 

  

$
87,365 

  

$
94,106 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

June 28,

 

September 28,

 

 

2014

 

2013

Assets:

  

 

 

 

 

 

Grocery sales

  

$
1,285,696 

 

$
1,528,483 

Other

  

 
370,790 

 

 
143,237 

Elimination of intercompany receivable

  

 
(2,182)

 

 
(2,392)

Total assets

  

$
1,654,304 

 

$
1,669,328 

 

 

Sales by product category (amounts in thousands) are as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

Three Months Ended

  

Nine Months Ended

 

  

June 28,

  

June 29,

  

June 28,

  

June 29,

 

 

2014

 

2013

 

2014

 

2013

Grocery

  

$
341,719 

  

$
344,742 

  

$
1,056,276 

  

$
1,075,061 

Non-foods

  

 
185,188 

  

 
178,402 

  

 
543,641 

  

 
526,783 

Perishables

 

 
241,899 

 

 
229,523 

 

 
698,951 

 

 
667,905 

Gasoline

  

 
169,580 

  

 
146,868 

  

 
458,052 

  

 
415,956 

Total grocery segment

  

$
938,386 

  

$
899,535 

  

$
2,756,920 

  

$
2,685,705 

 

The grocery category includes grocery, dairy, and frozen foods.

The non-foods include alcoholic beverages, tobacco, pharmacy, health and video.

The perishables category includes meat, produce, deli and bakery.

 

For the three-month periods ended June 28, 2014 and June 29, 2013, respectively, the fluid dairy operation had $14.4 million and $13.4 million in sales to the grocery sales operation. The fluid dairy operation had $44.5 million and $44.1 million in sales to the grocery sales operation for the nine-month periods ended June 28, 2014 and June 29, 2013, respectively. These sales have been eliminated in consolidation and are excluded from the amounts in the table above.