Quantitative and Qualitative Disclosures about Market Risk
−Removed: There were no material changes in our market risk exposure during the thirteen week period ended May 28, 2022.
−Removed: We continue to expect to experience logistics challenges in our supply chain as well as higher raw material, freight, and logistics costs in fiscal year 2022 and expect this to continue into fiscal year 2023.
−Removed: We instituted a price increase effective in September 2021, the first month of our fiscal year 2022.
−Removed: Additionally, in April 2022 management announced our plans to institute a price increase effective late in our fiscal fourth quarter of 2022.
−Removed: Management believes these price increases, along with productivity initiatives, will enable us to continue to invest in projects that drive growth.
−Removed: We are continuing to assess available alternatives to mitigate potential input cost inflation for fiscal year 2022.
+Added: There were no material changes in our market risk exposure during the thirteen week period ended November 26, 2022.
+Added: We continue to expect to experience logistics challenges in our supply chain as well as higher raw material costs, higher freight and logistics costs, and supply chain challenges in fiscal year 2023.
+Added: In addition, current or future governmental policies may increase the risk of inflation and possible economic recession, which could further increase the costs of ingredients, packaging and finished goods for our business as well as negatively effect consumer behavior and demand for our products.
+Added: As a result, we instituted price increases effective in the first and fourth quarters of fiscal year 2022.
+Added: However, there can be no assurance that the price increases will fully offset the effects of higher raw material and supply and distribution costs on our results of operations and financial condition.
For a discussion of our market risks, see “Quantitative and Qualitative Disclosures About Market Risk” in Part II, Item 7A of our Annual Report.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.