PENNSAUKEN, NJ. – J&J Snack Meals suffered a lack of $12.65 million within the quarter ended June 27, in comparison with internet revenue of $30.87 million, or $1.64 per share on widespread inventory, within the third quarter of the earlier 12 months. The corporate recorded a $5.1 million impairment cost within the quarter associated to the closure of a producing plant within the Midwest. J&J Snack mentioned it expects to scale back manufacturing overhead and distribution prices by about $7 million to $8 million yearly because of the plant closure.
Web gross sales fell 34% within the third quarter to $214.56 million from $326.7 million in the identical interval a 12 months in the past.
“Though we recorded an working loss this quarter, we made good progress every month in comparison with the earlier month,” mentioned Dan Fachner, president of J&J Snack Meals. “Our retail division has been sturdy as this a part of the enterprise continues to outperform the prior 12 months. Most foodservice areas are sluggish to open, however we proceed to see enhancements in our present quarter. We monitor and make needed changes to operations and bills each within the quick time period and in the long term.
J&J Snack Meals suffered an working lack of $18.24 million in its foodservice section within the third quarter, in contrast with income of $21.03 million in the identical interval a 12 months in the past. Gross sales fell 40% to $116.62 million from $193.36 million. Inside the restaurant division, gross sales of baked items have been $69.24 million, down 23% from $90.08 million the earlier 12 months, whereas gross sales of churros fell 62% to $7.32 million from $18.89 million, and tender pretzel gross sales additionally fell 62% to $21.38 million from $55.87 million. {dollars}.
Within the retail grocery store section within the third quarter, working revenue was $7.91 million, up 110% from $3.78 million within the third quarter a 12 months earlier. . Gross sales rose 38% to $57.5 million from $41.77 million. Within the retail grocery store section, gross sales of soppy pretzels elevated by 74%, from $7.29 million to $12.72 million. Frozen juice and tea gross sales elevated 26% from $26.52 million to $33.32 million, and handheld gross sales elevated marginally to $3.06 million at $3.26 million.
Within the frozen beverage section, J&J Snack suffered a lack of $9.09 million, in comparison with an working revenue of $14.24 million, and gross sales fell 56% to $40.44 million. of {dollars} in opposition to 91.58 million {dollars}.
Firm-wide, internet revenue for the 9 months ended June 27 was $11.72 million, or 62¢ per share on widespread inventory, down sharply from $68.75 million, or $3.64 per share, over the identical interval a 12 months in the past. 9-month internet gross sales decreased 12% to $769.5 million from $874.62 million.