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Assets Held for Sale and Discontinued Operations | 9 Months Ended
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Jul. 31, 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 | ​ | Nine months ended
​ | July 31, | ​ | July 31,
​ | 2024 | ​ | 2024
​ | ​ | ​ | ​ | ​
Net sales | $ | 88,586 |  | $ | 258,958
Cost of sales |  | 81,224 | ​ | ​ | 246,955
Gross profit |  | 7,362 | ​ | ​ | 12,003
Selling, general and administrative |  | 4,193 | ​ | ​ | 12,896
Impairment of goodwill | ​ | 9,280 | ​ | ​ | 9,280
Operating loss | ​ | (6,111) | ​ | ​ | (10,173)
Interest expense | ​ | (23) | ​ | ​ | (77)
Other income, net |  | 7 | ​ | ​ | 32
Loss from discontinued operations before income taxes and gain on sale | ​ | (6,127) | ​ | ​ | (10,218)
Income tax benefit |  | — | ​ | ​ | —
Net loss from discontinued operations | $ | (6,127) | ​ | $ | (10,218)
​ Select cash flow information related to the Fresh Cut business follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Nine months ended | ​
​ | ​ | ​ | ​ | July 31, | ​
​ | ​ | ​ | ​ | 2024 | ​
​ | ​ | ​ | ​ | ​ | ​
Net cash used in operating activities | ​ | ​ | ​ | $ | (7,071) | ​
Net cash used in investing activities | ​ | ​ | ​ | $ | (355) | ​
​

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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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