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BUSINESS SEGMENTS | 6 Months Ended
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Mar. 31, 2025
BUSINESS SEGMENTS |
BUSINESS SEGMENTS | 10. BUSINESS SEGMENTS ​ The Company has two reportable business segments: the wholesale distribution of consumer products (the Wholesale Segment), and the retail sale of health and natural food products (the Retail Segment). The aggregation of the Company’s business operations into these business segments was based on a range of considerations, including but not limited to the characteristics of each business, similarities in the nature and type of products sold, customer classes, methods used to sell the products and economic profiles. Included in the “Other” column are intercompany eliminations and assets held and charges incurred and income earned by our holding company. The segments are evaluated on revenues, gross margins, operating income (loss), and income (loss) from operations before taxes. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Wholesale | ​ | Retail | ​ | ​ | ​ | ​
​ |  | Segment |  | Segment |  | Other |  | Consolidated
THREE MONTHS ENDED MARCH 2025 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
External revenue: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cigarettes | ​ | $ | 374,341,125 | ​ | $ | — | ​ | $ | — | ​ | $ | 374,341,125
Tobacco | ​ | ​ | 121,839,251 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 121,839,251
Confectionery | ​ | ​ | 39,765,350 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 39,765,350
Health food | ​ | ​ | — | ​ | ​ | 11,902,524 | ​ | ​ | — | ​ | ​ | 11,902,524
Foodservice & other | ​ | ​ | 71,654,837 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 71,654,837
Total external revenue | ​ | ​ | 607,600,563 | ​ | ​ | 11,902,524 | ​ | ​ | — | ​ | ​ | 619,503,087
Depreciation | ​ | ​ | 2,056,696 | ​ | ​ | 266,906 | ​ | ​ | — | ​ | ​ | 2,323,602
Amortization | ​ | ​ | 134,425 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 134,425
Operating income (loss) | ​ | ​ | 2,821,616 | ​ | ​ | 430,846 | ​ | ​ | (2,790,557) | ​ | ​ | 461,905
Interest expense | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 2,266,407 | ​ | ​ | 2,266,407
Income (loss) from operations before taxes | ​ | ​ | 2,582,199 | ​ | ​ | 453,806 | ​ | ​ | (5,056,965) | ​ | ​ | (2,020,960)
Total assets | ​ | ​ | 373,458,943 | ​ | ​ | 17,342,095 | ​ | ​ | 1,202,999 | ​ | ​ | 392,004,037
Capital expenditures | ​ | ​ | 2,859,192 | ​ | ​ | 207,068 | ​ | ​ | — | ​ | ​ | 3,066,260
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Wholesale | ​ | Retail | ​ | ​ | ​ | ​
​ |  | Segment |  | Segment |  | Other |  | Consolidated
THREE MONTHS ENDED MARCH 2024 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
External revenue: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cigarettes | ​ | $ | 367,878,538 | ​ | $ | — | ​ | $ | — | ​ | $ | 367,878,538
Tobacco | ​ | ​ | 114,832,151 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 114,832,151
Confectionery | ​ | ​ | 37,862,439 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 37,862,439
Health food | ​ | ​ | — | ​ | ​ | 11,224,329 | ​ | ​ | — | ​ | ​ | 11,224,329
Foodservice & other | ​ | ​ | 70,079,849 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 70,079,849
Total external revenue | ​ | ​ | 590,652,977 | ​ | ​ | 11,224,329 | ​ | ​ | — | ​ | ​ | 601,877,306
Depreciation | ​ | ​ | 1,940,843 | ​ | ​ | 214,121 | ​ | ​ | — | ​ | ​ | 2,154,964
Amortization | ​ | ​ | 134,426 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 134,426
Operating income (loss) | ​ | ​ | 5,813,354 | ​ | ​ | 456,722 | ​ | ​ | (2,926,413) | ​ | ​ | 3,343,663
Interest expense | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 2,247,737 | ​ | ​ | 2,247,737
Income (loss) from operations before taxes | ​ | ​ | 5,843,163 | ​ | ​ | 483,530 | ​ | ​ | (5,174,150) | ​ | ​ | 1,152,543
Total assets | ​ | ​ | 318,821,274 | ​ | ​ | 16,312,547 | ​ | ​ | 1,023,048 | ​ | ​ | 336,156,869
Capital expenditures (1) | ​ | ​ | 14,230,776 | ​ | ​ | 726,494 | ​ | ​ | — | ​ | ​ | 14,957,270
​ ​ (1) Includes $10.0 million purchase of a distribution facility in Colorado City, Colorado. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Wholesale | ​ | Retail | ​ | ​ | ​ | ​
​ |  | Segment |  | Segment |  | Other |  | Consolidated
SIX MONTHS ENDED MARCH 2025 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
External revenue: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cigarettes | ​ | $ | 812,363,123 | ​ | $ | — | ​ | $ | — | ​ | $ | 812,363,123
Tobacco | ​ | ​ | 257,736,729 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 257,736,729
Confectionery | ​ | ​ | 83,798,529 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 83,798,529
Health food | ​ | ​ | — | ​ | ​ | 22,427,859 | ​ | ​ | — | ​ | ​ | 22,427,859
Foodservice & other | ​ | ​ | 154,450,104 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 154,450,104
Total external revenue | ​ | ​ | 1,308,348,485 | ​ | ​ | 22,427,859 | ​ | ​ | — | ​ | ​ | 1,330,776,344
Depreciation | ​ | ​ | 4,293,179 | ​ | ​ | 531,598 | ​ | ​ | — | ​ | ​ | 4,824,777
Amortization | ​ | ​ | 268,851 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 268,851
Operating income (loss) | ​ | ​ | 9,373,148 | ​ | ​ | 100,024 | ​ | ​ | (5,340,947) | ​ | ​ | 4,132,225
Interest expense | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 5,113,028 | ​ | ​ | 5,113,028
Income (loss) from operations before taxes | ​ | ​ | 9,027,534 | ​ | ​ | 145,899 | ​ | ​ | (10,453,974) | ​ | ​ | (1,280,541)
Total assets | ​ | ​ | 373,458,943 | ​ | ​ | 17,342,095 | ​ | ​ | 1,202,999 | ​ | ​ | 392,004,037
Capital expenditures | ​ | ​ | 5,968,999 | ​ | ​ | 306,844 | ​ | ​ | — | ​ | ​ | 6,275,843
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Wholesale | ​ | Retail | ​ | ​ | ​ | ​
​ |  | Segment |  | Segment |  | Other |  | Consolidated
SIX MONTHS ENDED MARCH 2024 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
External revenue: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cigarettes | ​ | $ | 763,547,247 | ​ | $ | — | ​ | $ | — | ​ | $ | 763,547,247
Tobacco | ​ | ​ | 236,183,852 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 236,183,852
Confectionery | ​ | ​ | 77,905,569 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 77,905,569
Health food | ​ | ​ | — | ​ | ​ | 21,913,758 | ​ | ​ | — | ​ | ​ | 21,913,758
Foodservice & other | ​ | ​ | 147,285,954 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 147,285,954
Total external revenue | ​ | ​ | 1,224,922,622 | ​ | ​ | 21,913,758 | ​ | ​ | — | ​ | ​ | 1,246,836,380
Depreciation | ​ | ​ | 3,796,589 | ​ | ​ | 443,118 | ​ | ​ | — | ​ | ​ | 4,239,707
Amortization | ​ | ​ | 268,851 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 268,851
Operating income (loss) | ​ | ​ | 12,783,479 | ​ | ​ | 440,246 | ​ | ​ | (6,056,985) | ​ | ​ | 7,166,740
Interest expense | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 4,559,250 | ​ | ​ | 4,559,250
Income (loss) from operations before taxes | ​ | ​ | 12,618,261 | ​ | ​ | 1,025,478 | ​ | ​ | (10,616,235) | ​ | ​ | 3,027,504
Total assets | ​ | ​ | 318,821,274 | ​ | ​ | 16,312,547 | ​ | ​ | 1,023,048 | ​ | ​ | 336,156,869
Capital expenditures (1) | ​ | ​ | 17,211,107 | ​ | ​ | 1,025,663 | ​ | ​ | — | ​ | ​ | 18,236,770
​ (1) Includes $10.0 million purchase of a distribution facility in Colorado City, Colorado.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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