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Segment Information
 12 Months Ended
Nov. 03, 2023
Segment Reporting [Abstract]  
Segment Information

NOTE 7 - Segment Information:

 

We have two reportable operating segments, Frozen Food Products (the processing and distribution of frozen products) and Snack Food Products (the processing and distribution of meat and other convenience foods).

 

We evaluate each segment’s performance based on revenues and operating income. Selling, general and administrative expenses include corporate accounting, information systems, human resources and marketing management at the corporate level. These activities are allocated to each operating segment based on revenues and/or actual usage.

 

The following segment information is for the fiscal years ended November 3, 2023 (53 weeks) and October 28, 2022 (52 weeks):

 

Schedule of Segment Reporting Information, by Segment

                     
Segment Information
2023 

Frozen Food

Products

  

Snack Food

Products

   Other   Totals 
Net sales  $57,638   $193,998   $-   $251,636 
Cost of products sold   43,180    138,099    -    181,279 
Gross margin   14,458    55,899    -    70,357 
SG&A   14,443    51,124    -    65,567 
Loss on sale of property, plant, and equipment   75    86    -    161 
Operating (loss) income  $(60)  $4,689   $-   $4,629 
                     
Total assets  $15,241   $121,725   $30,032   $166,998 
Additions to PP&E  $493   $2,110   $-   $2,603 

 

                     
Segment Information
2022 

Frozen Food

Products

  

Snack Food

Products

   Other   Totals 
Net sales  $56,254   $209,644   $-   $265,898 
Cost of products sold   41,100    152,737    -    193,837 
Gross margin   15,154    56,907    -    72,061 
SG&A   14,614    50,621    -    65,235 
Gain on sale of property, plant, and equipment   (16)   (100)   (57,629)   (57,745)
                     
Operating income (loss)  $556   $6,386   $57,629   $64,571 
                     
Total assets  $16,327   $130,704   $29,317   $176,348 
Additions to PP&E  $1,106   $2,664   $-   $3,770 

 

The following information further disaggregates our sales to customers by major distribution channel and customer type for the fiscal years ended November 3, 2023, and October 28, 2022, respectively.

 

Schedule of Disaggregates Our Sales to Customers

2023

 

Distribution Channel

  Retail (a)   Foodservice (b)   Totals 
Direct store delivery  $130,497   $-   $130,497 
Direct customer warehouse   63,501    -    63,501 
Total Snack Food Products   193,998    -    193,998 
                
Distributors   8,397    49,241    57,638 
Total Frozen Food Products   8,397    49,241    57,638 
                
Total Net Sales  $217,852   $49,241   $251,636 

 

(a) Includes sales to food retailers, such as grocery retailers, warehouse club stores, and internet-based retailers.
(b) Includes sales to foodservice distributors, restaurant operators, hotel chains and noncommercial foodservice establishments such as schools, convenience stores, healthcare facilities and the military.

 

 

2022            
             

Distribution Channel

  Retail (a)   Foodservice (b)   Totals 
Direct store delivery  $138,220   $-   $138,220 
Direct customer warehouse   71,424    -    71,424 
Total Snack Food Products   209,644    -    209,644 
                
Distributors   8,208    48,046    56,254 
Total Frozen Food Products   8,208    48,046    56,254 
                
Total Net Sales  $217,852   $48,046   $265,898 

 

(a) Includes sales to food retailers, such as grocery retailers, warehouse club stores, and internet-based retailers.
(b) Includes sales to foodservice distributors, restaurant operators, hotel chains and noncommercial foodservice establishments such as schools, convenience stores, healthcare facilities and the military.