Highlights include:
- Net sales rose from
$6.29 billion in Q1 2021 to$7.8 billion for the quarter endingApril 2, 2022 , driven by higher total case volume and food cost inflation of 17.3% compared to the same quarter a year ago. - Total case volume increased 4.1% from the prior year driven by a 3% increase in total restaurant volume, a 64% increase in hospitality volume and a 1% increase in healthcare volume.
- Total restaurant volume growth was driven by a 9.2% increase in independent restaurant case volume and the successful onboarding of profitable chain business acquired over the last year.
-
Net loss improved from a
$24 million loss to a$7 million loss in the comparative quarters. -
Net loss per share improved from an
18-cent loss to a7-cent loss on both a basic and diluted basis. -
Adjusted diluted EPS improved from
12 cents to a36 cents .
Shares traded today at
The
"Our results this quarter are a promising affirmation of our progress in implementing our long-range plan to profitably grow market share, further optimize gross margins and improve operational efficiencies," Executive Chairman
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