Every material Form 8-K J&J Snack Foods filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
J&J Snack Foods approved a NonQualified Deferred Compensation Plan on November 18, 2024, effective January 1, 2025, letting eligible employees, directors and independent contractors defer pay on a voluntary basis. The filing says company obligations under the plan are unfunded and unsecured, so participants are general creditors of the company.
Plan approved by the Compensation Committee on November 18, 2024; effective January 1, 2025
Eligible employees may defer up to 50% of base salary and up to 95% of short-term bonuses and commissions
Company may make discretionary contributions, which vest after four years of service or on specified events such as a change in control
Participants are unsecured general creditors of the company with respect to deferred compensation
J&J Snack Foods said Shawn Munsell will become Senior Vice President and Chief Financial Officer effective December 2, 2024, replacing Ken Plunk, who is retiring and will support the transition through the end of 2024. Munsell will have overall responsibility for the company's corporate financial operations, and his offer letter sets a $500,000 base salary and a target bonus of 75% of base salary. A change in CFO matters to shareholders because the role oversees all of the company's financial functions.
Shawn Munsell becomes SVP and Chief Financial Officer effective December 2, 2024, succeeding Ken Plunk, whose retirement was announced in June 2024.
Offer letter: $500,000 base salary, 75% target bonus, and a $50,000 sign-on bonus net of taxes, repayable if employment ends within the first twelve months.
Annual long-term incentive restricted stock unit awards valued at $400,000 under the company's current LTIP.
Munsell was CFO of Calavo Growers from June 2022 and previously led finance and accounting for Tyson Foods' chicken segment from 2018 to 2022.
J&J Snack Foods reported fiscal fourth-quarter sales down 3.9% to $426.8 million and diluted EPS down 3.2% to $1.52, compared with the prior-year quarter, which included an extra week. For the full fiscal year ended September 28, 2024, sales rose 1.0% to $1.57 billion and diluted EPS rose 9.1% to $4.45, but the company said softer consumer spending and lower quarterly gross margin weighed on the fourth quarter.
Q4 net sales $426.8 million, down 3.9% as reported and up 3.9% on a normalized basis; Q4 gross margin 31.8%, down 110 basis points
Full-year net earnings $86.6 million, up 9.7%; full-year diluted EPS $4.45, up 9.1%; adjusted EPS $4.93, up 9.6%
Q4 operating income $39.8 million, down 4.5%; Q4 net earnings $29.6 million, down 2.6%
Management will discuss results and business outlook on a conference call on November 14, 2024, at 10:00 a.m. Eastern Time
J&J Snack Foods reported fiscal third-quarter 2024 net sales of $440.0 million, up 3.3%, and net earnings of $36.3 million, up 3.8%, with diluted EPS of $1.87 versus $1.81 a year earlier. Growth came mainly from the Retail and Food Service segments, while Frozen Beverages sales declined 2.6% due to weaker movie theater attendance, which matters to shareholders as it shows continued top-line and profit growth despite a segment-level drag.
Net sales rose 3.3% to $440.0 million; net earnings rose 3.8% to $36.3 million.
Diluted EPS was $1.87 versus $1.81 a year earlier; adjusted EPS was $1.98 versus $1.92.
Retail segment sales rose 12.4% to $68.7 million; Frozen Beverages sales fell 2.6% to $106.8 million.
Management said fiscal fourth quarter results will be impacted by one less sales week than the prior-year period; the filing gives no numeric outlook.
J&J Snack Foods said Chief Financial Officer Ken Plunk notified the company on June 24, 2024 that he will retire effective December 31, 2024. The company plans to search for a successor during the interim period, so shareholders will see a CFO transition later in 2024.
Ken Plunk, Senior Vice President and Chief Financial Officer, notified the company of his retirement on June 24, 2024
Retirement is effective December 31, 2024
The company will conduct a search for its next Chief Financial Officer
J&J Snack Foods reported fiscal second-quarter 2024 results for the period ended March 30, 2024, with net sales of $359.7 million, up 6.5% from a year earlier. Net earnings rose 94.0% to $13.3 million, and diluted EPS was $0.69, and the company said gross margin improved to 30.1%. The results show higher sales and profit for shareholders, though the company also reported $2.3 million in one-time distribution transition costs.
Net sales were $359.7 million, up 6.5%, the highest fiscal second-quarter sales in company history according to management
Net earnings were $13.3 million and diluted EPS was $0.69, compared with $6.9 million and $0.36 in the prior-year quarter
Gross margin rose to 30.1% from 26.8%, and Retail segment sales grew 14.1% to $52.9 million
Results included $2.3 million in one-time transition expenses tied to the Arizona distribution center; a conference call is set for May 7, 2024 at 10:00 a.m. Eastern
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every J&J Snack Foods filing is on SEC EDGAR ↗. 8-K briefs of other companies →