Why This Matters to Distributors: Chefs’ Warehouse’s results highlight that growth in distribution is being driven by volume gains, customer expansion, and deeper product penetration and not just pricing. At the same time, the quarter underscores how weather, geopolitical events and rising operating costs remain persistent risks, even as demand improves.
The Chefs’ Warehouse, Inc. reported strong first-quarter results as higher customer demand, pricing gains and product expansion drove double-digit sales growth despite weather disruptions and geopolitical uncertainty.
The Ridgefield, Connecticut-based distributor said net sales rose 11.4% to $1.06 billion for the quarter ending March 27, up from $950.7 million a year earlier. Organic sales increased 10.4%, with acquisitions contributing about 1% growth.
Net income increased to $17.4 million from $10.3 million a year earlier.
CEO Christopher Pappas said demand strengthened throughout the quarter despite external pressures.
“Revenue trends coming out of January increased steadily into February and March,” Pappas said, adding that the company continued to gain market share despite “extreme weather events and the start of the conflict in the Middle East later in the quarter.”
Volume growth was a key driver. Organic case volume in the specialty category increased about 5.7%, while pounds sold in the center-of-the-plate category rose about 6.2%. The company also reported growth in unique customers and product placements.
Gross profit increased 13.9% to $257.4 million, supported by higher volumes, pricing, and acquisitions. Gross margin improved to 24.3%. Operating income rose to $33.1 million from $22.7 million a year earlier.
Operating expenses increased 10.5% to $224.1 million, driven by higher compensation and benefits tied to sales growth, as well as increased depreciation from investments in facilities and delivery fleet.
The company said it continues to invest in its sales organization and operations to support growth, including training and development of its workforce.
Chefs’ Warehouse expects full-year 2026 sales between $4.35 billion and $4.45.
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