The Chefs’ Warehouse on Tuesday forecast higher sales and profit for fiscal 2026, citing strengthening demand, continued market share gains and momentum that carried into the fall following a strong third quarter.
Based in Ridgefield, Connecticut, Chefs’ Warehouse distributes specialty foods, proteins and ingredients to independent restaurants, fine-dining operators, hotels and other hospitality customers across the United States, Canada, and the Middle East.
The company said it expects net sales of $4.35 billion to $4.45 billion in fiscal 2026. It also projected gross profit of $1.05 billion to $1.08 billion.
The outlook builds on solid recent results. For the 13 weeks ended Sept. 26, 2025, Chefs’ Warehouse reported net sales of $1.02 billion, up 9.6% from $931.5 million a year earlier. Net income rose to $19.1 million, compared with $14.1 million in the same quarter of 2024, an increase of about 36%.
For the first nine months of fiscal 2025, net sales increased to $3.01 billion, up from $2.76 billion a year earlier, a gain of 9%. Net income rose to $50.7 million, compared with $31.6 million in the prior-year period, an increase of about 61%.
Founder and CEO Chris Pappas said in the company’s third-quarter earnings call that demand improved as the quarter progressed and remained strong into October.
“Business and demand trends improved sequentially through the third quarter, and momentum in demand and market share gains continued into October,” Pappas said.
Third-quarter gross profit increased 10% to $247.2 million, while operating income rose to $38.9 million from $31.9 million a year earlier. The company said results were driven by growth in higher-margin specialty products and deeper penetration with existing customers.
Management noted that year-over-year comparisons were affected by its earlier decision to exit two noncore programs in Texas following the 2023 acquisition of Hardie’s. The discontinued programs, which represented about 1% of revenue, included a high-volume poultry offering and a produce processing operation.
Executives also pointed out steady operating improvements, including more profit generated by delivery routes and better cost efficiency, which they attributed to long-term investments in facilities, logistics, sales coverage, and technology.
International operations contributed to results as well. Pappas said the company’s Middle East business continued to exceed expectations despite temporary summer disruptions, with robust performance in markets including Dubai, Abu Dhabi, and Oman.
During the quarter, Chefs’ Warehouse completed the acquisition of Italco Food Products, a small specialty food and ingredient distributor based in Denver, expanding its presence in the Rocky Mountain region. Pappas described the deal as a targeted addition that supports growth in urban and resort markets.
The company did not provide guidance for net income or earnings per share for fiscal 2026 and said it plans to provide additional details when it reports full fourth-quarter and full-year 2025 results.
Do not miss any content from Distribution Strategy Group. Join our list.
