The Chefs' Warehouse Reports 8.7% Increase in Net Sales to $950.7 Million

The Chefs' Warehouse, Inc. reported a significant increase in financial performance for the thirteen weeks ended March 28, 2025, with net sales reaching $950.7 million, an 8.7% increase from $874.5 million in the same period last year. The company's gross profit also rose to $226.0 million, up 7.9% from $209.4 million, although the gross profit margin slightly decreased to 23.8% from 23.9%. Operating income improved to $22.7 million compared to $16.0 million in the prior year, while net income surged to $10.3 million, a substantial increase from $1.9 million.

The increase in sales was attributed to organic growth, with a 5.7% rise in case count within the specialty category and a 4.5% increase in unique customers. However, the center-of-the-plate category saw a 1.3% decline in pounds sold. The company experienced inflationary pressures, with estimated inflation rates of 4.8% in the specialty category and 5.9% in the center-of-the-plate category. Selling, general, and administrative expenses rose by 6.5% to $202.8 million, primarily due to higher compensation and benefits costs, but the ratio of these expenses to net sales improved.

Operationally, The Chefs' Warehouse serves over 50,000 core customer locations across 23 geographic markets in the U.S., the Middle East, and Canada. The company has maintained a strong focus on its distribution capabilities, which has contributed to its growth. As of March 28, 2025, the company reported cash and cash equivalents of $116.5 million, a slight increase from $114.7 million at the end of the previous fiscal year. The company’s total assets decreased to $1.84 billion from $1.86 billion, while total liabilities also saw a reduction to $1.30 billion from $1.32 billion.

Looking ahead, The Chefs' Warehouse expects to continue its capital expenditures in the range of $40 million to $50 million for fiscal 2025, supported by its existing cash balances and available credit. The company has also announced a share repurchase program of up to $100 million, with $82.6 million remaining as of the end of the reporting period. The management remains optimistic about future growth, driven by ongoing investments in facilities and distribution, as well as the ability to adapt to market conditions and customer demands.