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SEGMENT REPORTING | 12 Months Ended
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Jun. 29, 2025
SEGMENT REPORTING [Abstract] |
SEGMENT REPORTING | NOTE K - SEGMENT REPORTING: The Company has three reportable operating segments as determined by management using the “management approach” as defined by ASC 280 Disclosures about Segments of an Enterprise and Related Information: (1) Pizza Inn Franchising, (2) Pie Five Franchising and (3) Corporate administration and other. These segments are a result of differences in the nature of the products and services sold. Corporate administration costs, which include, but are not limited to, general accounting, human resources, legal and credit and collections, are partially allocated to the three operating segments. The Company's chief operating decision maker (“CODM”) is the chief executive officer, who assesses segment performance primarily based on operating revenues and income before taxes to inform decisions regarding resource allocation. In addition, the CODM uses segment income to evaluate investment opportunities and strategic priorities across the Company's brands. The Pizza Inn and Pie Five Franchising segments establish franchisees, licensees and territorial rights. Revenue for these segments are derived from franchise royalties, franchise fees, sale of area development and foreign master license rights and incentive payments from third-party suppliers and distributors. Assets for these segments include equipment, furniture and fixtures. Corporate administration and other assets primarily include cash and short-term investments, as well as furniture and fixtures located at the corporate office and trademarks and other intangible assets. All assets are located within the United States. Summarized in the following tables are net operating revenues, depreciation and amortization expense, and income before taxes for the Company's reportable segments as of and for the fiscal years ended June 29, 2025, June 30, 2024, and June 25, 2023 (in thousands):
|  | Pizza Inn Franchising | Pie Five Franchising | Corporate | Total
|  | Fiscal Year Ended | Fiscal Year Ended | Fiscal Year Ended | Fiscal Year Ended
|  |  | June 29, 2025 |  |  |  | June 30, 2024 |  |  |  | June 25, 2023 |  |  |  | June 29, 2025 |  |  |  | June 30, 2024 |  |  |  | June 25, 2023 |  |  |  | June 29, 2025 |  |  |  | June 30, 2024 |  |  |  | June 25, 2023 |  |  |  | June 29, 2025 |  |  |  | June 30, 2024 |  |  |  | June 25, 2023 |
REVENUES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Franchise royalties |  | $ | 3,988 |  |  | $ | 3,913 |  |  | $ | 3,880 |  |  |  | 632 |  |  | $ | 931 |  |  | $ | 1,098 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 4,620 |  |  | $ | 4,844 |  |  | $ | 4,978 |
Supplier and distributor incentive revenues |  |  | 4,660 |  |  |  | 4,454 |  |  |  | 4,045 |  |  |  | 280 |  |  |  | 379 |  |  |  | 373 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4,940 |  |  |  | 4,833 |  |  |  | 4,418 |
Franchise license fees |  |  | 89 |  |  |  | 174 |  |  |  | 102 |  |  |  | 64 |  |  |  | 107 |  |  |  | 50 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 153 |  |  |  | 281 |  |  |  | 152 |
Area development exclusivity fees and foreign master license fees |  |  | 9 |  |  |  | 10 |  |  |  | 11 |  |  |  | 4 |  |  |  | 5 |  |  |  | 7 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 13 |  |  |  | 15 |  |  |  | 18 |
Advertising fund contributions |  |  | 1,827 |  |  |  | 1,527 |  |  |  | 1,600 |  |  |  | 204 |  |  |  | 287 |  |  |  | 343 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,031 |  |  |  | 1,814 |  |  |  | 1,943 |
Supplier convention funds |  |  | 217 |  |  |  | 217 |  |  |  | 172 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 217 |  |  |  | 217 |  |  |  | 172 |
Rental income |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 53 |  |  |  | 131 |  |  |  | 186 |  |  |  | 53 |  |  |  | 131 |  |  |  | 186 |
Other |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 12 |  |  |  | 15 |  |  |  | 22 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 12 |  |  |  | 15 |  |  |  | 22 |
Total revenues |  |  | 10,790 |  |  |  | 10,295 |  |  |  | 9,810 |  |  |  | 1,196 |  |  |  | 1,724 |  |  |  | 1,893 |  |  |  | 53 |  |  |  | 131 |  |  |  | 186 |  |  |  | 12,039 |  |  |  | 12,150 |  |  |  | 11,889 |
COSTS AND EXPENSES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
General and administrative expenses |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 5,215 |  |  |  | 5,267 |  |  |  | 5,490 |  |  |  | 5,215 |  |  |  | 5,267 |  |  |  | 5,490 |
Franchise expenses |  |  | 2,997 |  |  |  | 2,985 |  |  |  | 3,059 |  |  |  | 400 |  |  |  | 671 |  |  |  | 897 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3,397 |  |  |  | 3,656 |  |  |  | 3,956 |
Impairment of long-lived assets and other lease charges |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 5 |  |  |  | — |  |  |  | — |  |  |  | 5 |
Provision (recovery) for credit losses |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (21 | ) |  |  | 69 |  |  |  | 73 |  |  |  | (21 | ) |  |  | 69 |  |  |  | 73 |
Interest (income) expense |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (354 | ) |  |  | (153 | ) |  |  | 1 |  |  |  | (354 | ) |  |  | (153 | ) |  |  | 1 |
Depreciation and amortization expense |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 182 |  |  |  | 219 |  |  |  | 214 |  |  |  | 182 |  |  |  | 219 |  |  |  | 214 |
Total costs and expenses |  |  | 2,997 |  |  |  | 2,985 |  |  |  | 3,059 |  |  |  | 400 |  |  |  | 671 |  |  |  | 897 |  |  |  | 5,022 |  |  |  | 5,402 |  |  |  | 5,783 |  |  |  | 8,419 |  |  |  | 9,058 |  |  |  | 9,739 |
INCOME/(LOSS) BEFORE TAXES |  |  | 7,793 |  |  |  | 7,310 |  |  |  | 6,751 |  |  |  | 796 |  |  |  | 1,053 |  |  |  | 996 |  |  |  | (4,969 | ) |  |  | (5,271 | ) |  |  | (5,597 | ) |  |  | 3,620 |  |  |  | 3,092 |  |  |  | 2,150 |
Income tax expense |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 918 |  |  |  | 619 |  |  |  | 537 |  |  |  | 918 |  |  |  | 619 |  |  |  | 537 |
NET INCOME/(LOSS) |  | $ | 7,793 |  |  | $ | 7,310 |  |  | $ | 6,751 |  |  | $ | 796 |  |  | $ | 1,053 |  |  | $ | 996 |  |  | $ | (5,887 | ) |  | $ | (5,890 | ) |  | $ | (6,134 | ) |  | $ | 2,702 |  |  | $ | 2,473 |  |  | $ | 1,613 |
The following table provides information on our foreign and domestic revenues:
|  | Fiscal Year Ended
|  | June 29, 2025 |  |  | June 30, 2024 |  |  | June 25, 2023 |
Geographic information (revenues): |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 11,791 |  |  | $ | 11,940 |  |  | $ | 11,627 |
Foreign countries |  |  | 248 |  |  |  | 210 |  |  |  | 262 |
Consolidated revenues |  | $ | 12,039 |  |  | $ | 12,150 |  |  | $ | 11,889 |

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