Hillman Solutions Corp.
For the period ended Sep 27, 2025. Filed Nov 4, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 27, 2025 · Filed Nov 4, 2025
HLMN$8.32-2.5%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2025-06-28; filed 2025-08-05.
0001822492-25-000172
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2025-09-27; filed 2025-11-04.
0001822492-25-000202
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 159 previous paragraphs and 163 current paragraphs.
80 unchanged; 58 reworded; 20 added; 15 removed; 6 previous and 5 current paragraphs rearranged.
Tables are not compared: 13 previous and 13 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (20)
Current report
Share Repurchases
Current report
On July 31, 2025, the Board of Directors of the Company authorized a share repurchase program of up to $100,000 (the “Repurchase Program”) of the Company's common stock.
Current report
Canada net sales were comparable to prior year quarter.
Current report
Hardware and Protective Solutions' cost of sales as a percentage of net sales decreased primarily due to the timing of price increases driven by higher tariff costs. During the quarter, we began taking pricing actions with our customers as we are paying the additional tariff costs in 2025. We expect higher tariff expense to be included in our cost of sales in the fourth quarter of 2025 as we sell through the inventory purchased prior to the new tariffs.
Current report
Canada cost of sales as a percentage of net sales decreased primarily due to decreased product and shipping costs.
Current report
•Selling expense increased $5.5 million due to increased compensation costs.
Current report
•General and administrative expense (“G&A”) decreased $0.9 million due to a write off of $7.5 million of accounts receivable, net, due to True Value declaring bankruptcy in 2024 partially offset by increased variable compensation costs and legal fees.
Current report
•G&A expense was comparable to prior year.
Current report
•G&A expense increased by $1.0 million primarily due to severance expense recorded in connection with corporate restructuring activities in the third quarter of 2025.
Current report
•Warehouse expense was comparable to prior year.
Current report
Depreciation expense increased $2.2 million due to capital spend on merchandising racks.
Current report
Canada's income from operations decreased by $1.0 million primarily due to the changes in net sales, cost of sales and SG&A expenses described above. In addition, in the thirteen weeks ended September 27, 2025, Canada recorded exchange rate losses of $0.2 million and in the thirteen weeks ended September 28, 2024, Canada recorded exchange rate gains of $0.2 million.
Current report
Canada cost of sales as a percentage of net sales was comparable to prior year.
Current report
•G&A expense was consistent with the prior year.
Current report
(2)Litigation expense includes an accrual for the tentative settlement of a California wage-hour class action / Private Attorneys General Act (PAGA) claim.
Current report
35 | September 27, 2025 Form 10-Q
Current report
36 | September 27, 2025 Form 10-Q
Current report
37 | September 27, 2025 Form 10-Q
Current report
Share Repurchases:
Current report
In the thirteen and thirty-nine weeks ended September 27, 2025 the Company paid $3.2 million related to share repurchases.
Removed paragraphs (15)
Previous report
Canada cost of sales as a percentage of net sales increased primarily due to increased product and shipping costs.
Previous report
•Selling expense increased $0.3 million due to increased variable compensation.
Previous report
•General and administrative (“G&A”) was comparable to prior year.
Previous report
•G&A expense decreased $0.3 million. The decrease was primarily due to decreased variable compensation expense.
Previous report
•G&A decreased by $0.5 million primarily due to lower severance costs associated with restructuring activities in the prior year.
Previous report
Depreciation expense increased $3.6 million due to capital spend on merchandising racks.
Previous report
Canada's income from operations was comparable to prior year.
Previous report
Interest expense, net, was comparable to prior year quarter.
Previous report
Canada cost of sales as a percentage of net sales increased primarily due to increased shipping and product costs.
Previous report
30 | June 28, 2025 Form 10-Q
Previous report
•Selling expense decreased by $0.7 million primarily due to decreased compensation and benefit expense along with lower severance costs associated with restructuring activities in the prior year.
Previous report
•G&A decreased by $0.7 million primarily driven by lower severance costs associated with restructuring activities in the prior year and decreased compensation and benefit expense.
Previous report
Amortization expense in the twenty-six weeks ended June 28, 2025 increased by $0.2 million primarily due to the additional amortization related to the Intex acquisition.
Previous report
In the twenty-six weeks ended June 29, 2024, other income (expense) consisted primarily of a $0.8 million loss on the revaluation of the contingent consideration associated with the acquisition of Resharp and Instafob.
Previous report
31 | June 28, 2025 Form 10-Q
Reworded paragraphs (58)
Previous wording
Hillman Solutions Corp. and its wholly-owned subsidiaries (collectively, “Hillman” or “Company”) are one of the largest providers of hardware-related products and related merchandising services to retail markets in North America. Our principal business is operated through our wholly-owned subsidiary, Hillman Solutions Corp. and its wholly-owned subsidiaries (collectively, “Hillman Group”), which had net sales of $402.8 million in the thirteen weeks ended June 28, 2025 and $762.1 million in the twenty-six weeks ended June 28, 2025. Hillman sells its products to hardware stores, home improvement centers, mass merchants, pet supply stores, and other retail outlets principally in the United States, Canada, and Mexico. Product lines include thousands of small hardware parts such as fasteners and related items; threaded rod and metal shapes; keys and accessories; builder's hardware; personal protective equipment, such as gloves and eyewear; rope and chain; and identification items, such as tags and letters, numbers, and signs. We support product sales with services that include design and
Current wording
Hillman Solutions Corp. and its wholly-owned subsidiaries (collectively, “Hillman” or “Company”) are one of the largest providers of hardware-related products and related merchandising services to retail markets in North America. Our principal business is operated through our wholly-owned subsidiary, Hillman Solutions Corp. and its wholly-owned subsidiaries (collectively, “Hillman Group”), which had net sales of $424.9 million in the thirteen weeks ended September 27, 2025 and $1,187.1 million in the thirty-nine weeks ended September 27, 2025. Hillman sells its products to hardware stores, home improvement centers, mass merchants, pet supply stores, and other retail outlets principally in the United States, Canada, and Mexico. Product lines include thousands of small hardware parts such as fasteners and related items; threaded rod and metal shapes; keys and accessories; builder's hardware; personal protective equipment, such as gloves and eyewear; rope and chain; and identification
Previous wording
installation of merchandising systems, maintenance of appropriate in-store inventory levels, and break-fix for our robotics kiosks.
Current wording
items, such as tags and letters, numbers, and signs. We support product sales with services that include design and installation of merchandising systems, maintenance of appropriate in-store inventory levels, and break-fix for our robotics kiosks.
Previous wording
In the first half of 2025, the U.S. government announced tariffs on imports from countries from which we import products and components. Subsequent to their announcements, there have been changes to the effective dates and amounts, and as a result, we are unable to fully quantify the impact that tariffs, when ultimately enacted, will have on our results of operations given the dynamic tariff environment.
Current wording
In 2025, the U.S. government announced tariffs on imports from countries from which we import products and components. Subsequent to the initial announcements, there have been changes to the effective dates and amounts, and as a result, we are unable to fully quantify the impact that tariffs, when ultimately enacted, will have on our results of operations given the dynamic tariff environment.
Previous wording
We estimate we source approximately 33% of our products from China, 33% from suppliers based in North America, and 33% from all other countries. Based on the current facts and tariff environment as of the date of this filing, we expect the tariffs to drive an increase in our net working capital. We have raised our prices to offset the tariff costs that are expected to increase our cost of sales, although these price increases could impact future demand for our products. We continue to analyze the impact of these actions and what, if any, steps, including pricing actions, we may take to mitigate the impact of the tariffs. We are also exploring alternative suppliers in other countries as part of our sourcing strategy to reduce the impact of these tariffs.
Current wording
We estimate we source approximately 33% of our products from China, 33% from suppliers based in North America, and 33% from all other countries. Based on the current facts and tariff environment as of the date of this filing, tariffs have resulted in an increase in our net working capital and cost of sales. We have raised our prices to offset the tariff costs that are expected to further increase our cost of sales, although these price increases could impact future demand for our products. We continue to analyze the impact of these actions and what, if any, steps, including pricing actions, we may take to mitigate the impact of the tariffs. Consistent with our normal course of business, we will continue exploring alternative suppliers in other countries to source quality products that provide the best value for our customers.
Previous wording
We are exposed to the risk of unfavorable changes in foreign currency exchange rates for the U.S. dollar versus local currency of our suppliers, particularly those located in China and Taiwan, because we purchase a majority of our products for resale from multiple vendors located in these countries. The purchase price of these products is routinely negotiated in U.S. dollar amounts rather than the local currency of the vendors and our suppliers' profit margins decrease when the U.S. dollar declines in value relative to the local currency. This puts pressure on our suppliers to increase prices to us. The U.S. dollar declined in value relative to the CNY by approximately 1.7% in the twenty-six weeks ended June 28, 2025, increased by 2.8% in 2024, and increased by 2.9% in 2023. The U.S. dollar declined in value relative to the Taiwan dollar by approximately 11.4% in the twenty-six weeks ended June 28, 2025, increased by 7.1% in 2024, and declined by 0.4% in 2023.
Current wording
We are exposed to the risk of unfavorable changes in foreign currency exchange rates for the U.S. dollar versus local currency of our suppliers, particularly those located in China and Taiwan, because we purchase a majority of our products for resale from multiple vendors located in these countries. The purchase price of these products is routinely negotiated in U.S. dollar amounts rather than the local currency of the vendors and our suppliers' profit margins decrease when the U.S. dollar declines in value relative to the local currency. This puts pressure on our suppliers to increase prices to us. The U.S. dollar declined in value relative to the CNY by approximately 2.3% in the thirty-nine weeks ended September 27, 2025, increased by 2.8% in 2024, and increased by 2.9% in 2023. The U.S. dollar declined in value relative to the Taiwan dollar by approximately 6.9% in the thirty-nine weeks ended September 27, 2025, increased by 7.1% in 2024, and declined by 0.4% in 2023.
Previous wording
We are also exposed to risk of unfavorable changes in the Canadian dollar exchange rate versus the U.S. dollar. Our sales in Canada are denominated in Canadian dollars, while a majority of the products are sourced in U.S. dollars. A weakening of the Canadian dollar versus the U.S. dollar results in lower sales in terms of U.S. dollars while the cost of sales remains unchanged. We have a practice of hedging some of our Canadian subsidiary's purchases denominated in U.S. dollars. The U.S. dollar declined in value relative to the Canadian dollar by approximately 5.1% in the twenty-six weeks ended June 28, 2025, increased by 9.0% in 2024, and declined by 2.4% in 2023.
Current wording
We are also exposed to risk of unfavorable changes in the Canadian dollar exchange rate versus the U.S. dollar. Our sales in Canada are denominated in Canadian dollars, while a majority of the products are sourced in U.S. dollars. A weakening of the Canadian dollar versus the U.S. dollar results in lower sales in terms of U.S. dollars
Previous wording
purchase cost of our products may also be dependent upon inflation or deflation in the local economies of vendors that could impact the cost of labor and materials used in the manufacturing of our products. We identify the directional impact of changes in our product cost, but the quantification of each of these variable impacts cannot be measured as to the individual impact on our product cost with a sufficient level of precision. We may take pricing action, when warranted, in an attempt to offset a portion of product cost increases. The ability of our operating divisions to implement or maintain price increases and seek price concessions, as appropriate, is dependent on competitive market conditions.
Current wording
In addition, the negotiated purchase price of our products may be dependent upon market fluctuations in the cost of raw materials (i.e. steel, zinc, and nickel) used by our vendors in their manufacturing processes. The final purchase cost of our products may also be dependent upon inflation or deflation in the local economies of vendors that could impact the cost of labor and materials used in the manufacturing of our products. We identify the directional impact of changes in our product cost, but the quantification of each of these variable impacts cannot be measured as to the individual impact on our product cost with a sufficient level of precision. We may take pricing action, when warranted, in an attempt to offset a portion of product cost increases. The ability of our operating divisions to implement or maintain price increases and seek price concessions, as appropriate, is dependent on competitive market conditions.
Previous wording
•Net sales for the thirteen weeks ended June 28, 2025 were $402.8 million compared to net sales of $379.4 million for the thirteen weeks ended June 29, 2024, an increase of approximately $23.4 million or 6.2%.
Current wording
•Net sales for the thirteen weeks ended September 27, 2025 were $424.9 million compared to net sales of $393.3 million for the thirteen weeks ended September 28, 2024, an increase of approximately $31.6 million or 8.0%.
Previous wording
•Net income for the thirteen weeks ended June 28, 2025 was $15.8 million, or $0.08 per diluted share, compared to net income of $12.5 million, or $0.06 per diluted share for the thirteen weeks ended June 29, 2024.
Current wording
•Net income for the thirteen weeks ended September 27, 2025 was $23.2 million, or $0.12 per diluted share, compared to net income of $7.4 million, or $0.04 per diluted share for the thirteen weeks ended September 28, 2024.
Previous wording
•Adjusted EBITDA(1) totaled $75.2 million versus $68.4 million in the thirteen weeks ended June 28, 2025 and in the thirteen weeks ended June 29, 2024, respectively.
Current wording
•Adjusted EBITDA(1) totaled $88.0 million versus $64.8 million in the thirteen weeks ended September 27, 2025 and in the thirteen weeks ended September 28, 2024, respectively.
Previous wording
The increase in total net sales during the second quarter of 2025 was primarily driven by the factors described below:
Current wording
The increase in total net sales during the third quarter of 2025 was primarily driven by the factors described below:
Previous wording
Hardware and Protective Solutions' net sales increased by $24.6 million in the thirteen weeks ended June 28, 2025 due to the following:
Current wording
Hardware and Protective Solutions' net sales increased by $29.8 million in the thirteen weeks ended September 27, 2025 due to the following:
Previous wording
•Hardware net sales increased by $10.2 million primarily due to price increases of $5.3 million and $5.1 million in new business.
Current wording
•Hardware net sales increased by $20.9 million primarily due to price increases of $28.6 million offset by $7.6 million in reduced volume.
Previous wording
•Protective equipment net sales increased by $14.4 million primarily due to $16.4 million in additional sales related to the Intex acquisition, partially offset by lower volume.
Current wording
•Protective equipment net sales increased by $9.0 million primarily due to $8.7 million in additional sales related to the Intex acquisition. Additionally, sales were impacted by price increases of $6.5 million partially offset by $6.3 million in reduced volume.
Previous wording
Robotics and Digital Solutions' net sales in the thirteen weeks ended June 28, 2025 increased by $1.3 million primarily due to price increases.
Current wording
Robotics and Digital Solutions' net sales in the thirteen weeks ended September 27, 2025 increased by $1.9 million primarily due to $4.6 million in price increases partially offset by lower volumes.
Previous wording
•Warehouse expense increased $0.9 million due to inflation in shipping costs along with rent and maintenance.
Current wording
•Warehouse expense increased $1.0 million primarily due to increased labor costs along with increased rent and maintenance.
Previous wording
•Selling expense increased $1.3 million primarily due to increased variable selling expenses due to the shift from full-service keys to self-service keys, which have a higher variable selling cost.
Current wording
•Selling expense increased $1.2 million primarily due to increased variable selling expenses due to the shift from full-service keys to self-service keys, which have a higher variable selling cost.
Previous wording
•Selling expense decreased by $0.2 million primarily due to lower severance costs associated with restructuring activities in the prior year.
Current wording
•Selling expense decreased by $0.2 million primarily due to lower severance costs associated with sales restructuring activities in the prior year.
Previous wording
In the thirteen weeks ended June 28, 2025, other income (expense) consisted primarily of exchange rate gains of $0.3 million in the thirteen weeks ended June 28, 2025, and a $0.2 million gain on the revaluation of the contingent consideration associated with the acquisition of Resharp and Instafob (see Note 15 - Fair Value Measurements of the Notes to Condensed Consolidated Financial Statements for additional information). In addition, we recorded income related to certain rebates received of $0.2 million.
Current wording
In the thirteen weeks ended September 27, 2025, other income (expense) consisted primarily of exchange rate losses of $0.2 million and a $0.1 million loss on the revaluation of the contingent consideration associated with the acquisition of Resharp and Instafob (see Note 15 - Fair Value Measurements of the Notes to Condensed Consolidated Financial Statements for additional information). In addition, we recorded income related to certain rebates received of $0.3 million.
Previous wording
Income from operations in our Hardware and Protective Solutions segment increased $4.5 million due to the changes in net sales, cost of sales, and SG&A expenses described above, in addition to an increase in depreciation expense of $1.9 million due to capital spend on merchandising racks.
Current wording
Income from operations in our Hardware and Protective Solutions segment increased $21.3 million due to the changes in net sales, cost of sales, and SG&A expenses described above. These changes were partially offset by an increase in depreciation expense of $1.6 million due to capital spend on merchandising racks.
Previous wording
Income from operations in our Robotics and Digital Solutions segment was comparable to prior year.
Current wording
Income from operations in our Robotics and Digital Solutions segment decreased $1.3 million. The $1.3 million decrease is primarily due to the changes in net sales, cost of sales, and SG&A expenses described above, in addition to an increase in depreciation expense of $0.5 million due to capital spend on key duplication kiosks and machines. Additionally, we saw a decrease of $0.5 million in other income driven by the changes in revaluation of the contingent consideration described above.
Previous wording
For the thirteen weeks ended June 28, 2025 and thirteen weeks ended June 29, 2024, the effective income tax rate was 29.4% and 29.0%, respectively. The Company recorded an income tax provision for the thirteen weeks ended June 28, 2025 of $6.6 million based on a pre-tax income of $22.4 million, and an income tax provision for the thirteen weeks ended June 29, 2024 of $5.1 million based on a pre-tax income of $17.6 million.
Current wording
For the thirteen weeks ended September 27, 2025 and thirteen weeks ended September 28, 2024, the effective income tax rate was 25.7% and 37.0%, respectively. The Company recorded an income tax provision for the thirteen weeks ended September 27, 2025 of $8.0 million based on a pre-tax income of $31.2 million, and an income tax provision for the thirteen weeks ended September 28, 2024 of $4.4 million based on a pre-tax income of $11.8 million.
Previous wording
Twenty-six weeks ended June 28, 2025 vs the Twenty-six weeks ended June 29, 2024
Current wording
Thirty-nine weeks ended September 27, 2025 vs the Thirty-nine weeks ended September 28, 2024
Previous wording
•Net sales for the twenty-six weeks ended June 28, 2025 were $762.1 million compared to $729.7 million for the twenty-six weeks ended June 29, 2024, an increase of approximately $32.4 million or 4.4%.
Current wording
•Net sales for the thirty-nine weeks ended September 27, 2025 were $1,187.1 million compared to $1,123.0 million for the thirty-nine weeks ended September 28, 2024, an increase of approximately $64.1 million or 5.7%.
Previous wording
•Net income for the twenty-six weeks ended June 28, 2025 was $15.5 million, or $0.08 per diluted share, compared to net income of $11.0 million, or $0.06 per diluted share for the twenty-six weeks ended June 29, 2024.
Current wording
•Net income for the thirty-nine weeks ended September 27, 2025 was $38.7 million, or $0.19 per diluted share, compared to net income of $18.5 million, or $0.09 per diluted share for the thirty-nine weeks ended September 28, 2024.
Previous wording
•Adjusted EBITDA(1) totaled $129.8 million versus $120.7 million in the twenty-six weeks ended June 28, 2025 and in the twenty-six weeks ended June 29, 2024, respectively.
Current wording
•Adjusted EBITDA(1) totaled $217.8 million versus $185.5 million in the thirty-nine weeks ended September 27, 2025 and in the thirty-nine weeks ended September 28, 2024, respectively.
Previous wording
The following analysis of results of operations includes a brief discussion of the factors that affected our operating results and a comparative analysis of the twenty-six weeks ended June 28, 2025 and the twenty-six weeks ended June 29, 2024.
Current wording
The following analysis of results of operations includes a brief discussion of the factors that affected our operating results and a comparative analysis of the thirty-nine weeks ended September 27, 2025 and the thirty-nine weeks ended September 28, 2024.
Previous wording
The increase in total net sales during the twenty-six weeks ended June 28, 2025 was primarily driven by the factors described below:
Current wording
The increase in total net sales during the thirty-nine weeks ended September 27, 2025 was primarily driven by the factors described below:
Previous wording
Hardware and Protective Solutions net sales increased by $39.3 million in the twenty-six weeks ended June 28, 2025 due to the following:
Current wording
Hardware and Protective Solutions' net sales increased by $69.1 million in the thirty-nine weeks ended September 27, 2025 due to the following:
Previous wording
•Hardware net sales increased by $1.9 million primarily driven by $3.0 million in price increases offset by decreased volume.
Current wording
•Hardware net sales increased by $22.8 million primarily driven by $28.7 million in price increases offset by decreased volume.
Previous wording
•Protective equipment net sales increased by $37.3 million primarily driven by $32.5 million of additional sales related to the Intex acquisition and the remainder was due to higher volume.
Current wording
•Protective equipment net sales increased by $46.3 million primarily driven by $41.2 million of additional sales related to the Intex acquisition along with $5.8 million in price increases.
Previous wording
Robotics and Digital Solutions net sales in the twenty-six weeks ended June 28, 2025 increased by $2.1 million primarily driven by $6.7 million of increased prices offset by decreased volume of key and engraving sales.
Current wording
Robotics and Digital Solutions' net sales in the thirty-nine weeks ended September 27, 2025 increased by $4.0 million primarily driven by $11.2 million of increased prices offset by decreased volume of $7.2 million in key and engraving sales.
Previous wording
Canada net sales decreased by $9.0 million primarily due to volume decreases of $5.6 million and an unfavorable impact of the exchange rate from Canadian dollars to U.S. dollars of $2.8 million.
Current wording
Canada net sales decreased by $9.1 million primarily due to volume decreases of $5.0 million and an unfavorable impact of the exchange rate from Canadian dollars to U.S. dollars of $2.7 million.
Previous wording
Hardware and Protective Solutions' cost of sales as a percentage of net sales increased primarily due to a higher mix of Protective Solutions sales which generally have higher costs than Hardware Solutions, in addition to increased product and shipping costs.
Current wording
Hardware and Protective Solutions' cost of sales as a percentage of net sales decreased primarily due to the timing of price increases driven by higher tariff costs. During the quarter, we began taking pricing actions with our customers as we are paying the additional tariff costs in 2025. We expect higher tariff expense to be included in our cost of sales in the fourth quarter of 2025 as we sell through the inventory purchased prior to the new tariffs. These were partially offset by a higher mix of Protective Solutions sales which generally have higher costs than Hardware Solutions products.
Previous wording
•Selling expense increased by $0.3 million primarily due to increased compensation and benefit expense.
Current wording
•Selling expense increased by $5.7 million primarily due to increased compensation and benefit expense.
Previous wording
•Warehouse expense increased $2.0 million primarily due to higher sales volumes along with increased shipping costs and additional expense related to our distribution center consolidation project.
Current wording
•Warehouse expense increased $2.0 million due to inflation in shipping costs along with rent and maintenance. Additionally, warehouse expense includes $0.6 million in costs incurred related to our Cincinnati, Ohio distribution center consolidation project.
Previous wording
•General and administrative (“G&A”) increased $1.5 million. The increase was primarily driven by an increased investment into information technology.
Current wording
•General and administrative (“G&A”) expense increased $0.6 million. The increase was primarily driven by increased compensation and benefit expenses along with an increased investment into information technology. These current year increases were partially offset by a prior year write off of $7.5 million of accounts receivable, net, due to True Value declaring bankruptcy in 2024.
Previous wording
•Selling expense increased by $3.7 million primarily due to the shift from full-service keys to self-service keys, which have a higher variable selling cost.
Current wording
•Selling expense increased by $4.9 million primarily due to the shift from full-service keys to self-service keys, which have a higher variable selling cost.
Previous wording
•Warehouse expense increased $0.4 million due to inflation in labor and shipping costs.
Current wording
•Warehouse expense increased $0.8 million due to inflation in labor and shipping costs.
Previous wording
•General and administrative (“G&A”) decreased $1.3 million due to reduced compensation and benefit expense.
Current wording
•G&A expense decreased $1.1 million due to reduced compensation and benefit expense.
Showing the first 40 of 58 pairs. Open the source sections for the rest.
Rearranged current paragraphs (5)
Current report — wording carried from elsewhere
while the cost of sales remains unchanged. We have a practice of hedging some of our Canadian subsidiary's purchases denominated in U.S. dollars. The U.S. dollar declined in value relative to the Canadian dollar by approximately 3.3% in the thirty-nine weeks ended September 27, 2025, increased by 9.0% in 2024, and declined by 2.4% in 2023.
Current report — wording carried from elsewhere
In the thirteen weeks ended September 28, 2024, other income (expense) consisted primarily of a $0.5 million gain on the revaluation of the contingent consideration associated with the acquisition of Resharp and Instafob.
Current report — wording carried from elsewhere
Interest expense, net, decreased $0.4 million primarily due to a reduction in outstanding debt and a reduction in interest rate spreads driven by the debt repricing in the first quarter of 2025(see Note 9 - Long-term Debt of the Notes to Condensed Consolidated Financial Statements for additional information).
Current report — wording carried from elsewhere
•Selling expense decreased by $0.9 million primarily due to lower severance costs associated with restructuring activities in the prior year.
Current report — wording carried from elsewhere
Amortization expense in the thirty-nine weeks ended September 27, 2025 was comparable to prior year.
Rearranged previous paragraphs (6)
Previous report — wording carried elsewhere
In addition, the negotiated purchase price of our products may be dependent upon market fluctuations in the cost of raw materials (i.e. steel, zinc, and nickel) used by our vendors in their manufacturing processes. The final
Previous report — wording carried elsewhere
Canada net sales decreased by $2.5 million primarily due to reduced volume of $1.2 million driven by market softness and an unfavorable impact of the exchange rate from Canadian dollars to U.S. dollars.
Previous report — wording carried elsewhere
•Warehouse expense decreased by $0.3 million primarily due to lower sales volumes.
Previous report — wording carried elsewhere
In the thirteen weeks ended June 29, 2024, other income (expense) consisted primarily of a $0.4 million loss on the revaluation of the contingent consideration associated with the acquisition of Resharp and Instafob.
Previous report — wording carried elsewhere
In 2024, the effective tax rate differed from the U.S. federal statutory tax rate due to state and foreign income taxes and certain non-deductible expenses.
Previous report — wording carried elsewhere
Hardware and Protective Solutions cost of sales as a percentage of net sales increased primarily due to a higher mix of Protective Solutions sales which generally have higher costs than Hardware Solutions in addition to increased product and shipping costs.