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Assets Held for Sale and Discontinued Operations | 6 Months Ended
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Apr. 30, 2025
Assets Held for Sale and Discontinued Operations |
Assets Held for Sale and Discontinued Operations | 10.Assets Held for Sale and Discontinued Operations ​ In August 2024, we completed the sale of our Fresh Cut business and related real estate for $83 million. The Fresh Cut business represented substantially all the Prepared segment, excluding the retained guacamole business. ​ As previously disclosed, the Fresh Cut business was classified as held for sale and discontinued operations in the first quarter of fiscal 2024. In connection with the sale, we recorded a $9.3 million goodwill impairment charge in the quarter ended July 31, 2024, based on the transaction’s sale price. ​ The following table summarizes the results of operations of the Fresh Cut business that are being reported as discontinued operations (in thousands):
​ | ​ | ​ | ​ | ​ | ​
​ | Three months ended | ​ | Six months ended
​ | April 30, | ​ | April 30,
​ | 2024 | ​ | 2024
​ | ​ | ​ | ​ | ​
Net sales | $ | 83,959 |  | $ | 170,372
Cost of sales |  | 80,149 | ​ | ​ | 165,731
Gross profit |  | 3,810 | ​ | ​ | 4,641
Selling, general and administrative |  | 4,207 | ​ | ​ | 8,703
Operating loss | ​ | (397) | ​ | ​ | (4,062)
Interest expense | ​ | (26) | ​ | ​ | (54)
Other income, net |  | 15 | ​ | ​ | 25
Loss from discontinued operations before income taxes and gain on sale | ​ | (408) | ​ | ​ | (4,091)
Income tax benefit |  | — | ​ | ​ | —
Net loss from discontinued operations | $ | (408) | ​ | $ | (4,091)
​ Select cash flow information related to the Fresh Cut business follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Six months ended | ​
​ | ​ | ​ | ​ | April 30, | ​
​ | ​ | ​ | ​ | 2024 | ​
​ | ​ | ​ | ​ | ​ | ​
Net cash used in operating activities | ​ | ​ | ​ | $ | (1,970) | ​
Net cash used in investing activities | ​ | ​ | ​ | $ | (353) | ​
​

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/205-20/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent + Details
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