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CLancaster Colony Lancaster Colony Corporation 380 Polaris Parkway , Suite 400 Westerville , Ohio 43082 ( 614 ) 224-7141 FOR IMMEDIATE RELEASE November 3 , 2021 news SYMBOL : LANC TRADED : Nasdaq LANCASTER COLONY REPORTS FIRST QUARTER SALES AND EARNINGS WESTERVILLE , Ohio , November 3 - Lancaster Colony Corporation ( Nasdaq : LANC ) today reported results for the company's fiscal first quarter ended September 30 , 2021 . Summary Consolidated net sales increased 12.3 % to a first quarter record $ 392.1 million . Retail segment net sales grew 15.6 % to $ 223.9 million while Foodservice segment net sales advanced 8.1 % to $ 168.2 million . Consolidated gross profit was nearly flat at $ 92.4 million compared to $ 92.7 million last year . Consolidated operating income declined $ 8.4 million to $ 40.5 million . Note that last year's operating income was favorably impacted by a $ 5.7 million non - cash reduction in the fair value of the contingent consideration for Bantam Bagels . Net income was $ 1.11 per diluted share versus $ 1.35 per diluted share last year . CEO David A. Ciesinski commented , " We were pleased to complete another quarter with record sales . The growth in Retail segment sales was led by our licensing program , most notably Chick - fil - AⓇ® sauces and Buffalo Wild Wings® sauces , and increased demand for our New York BRAND BakeryⓇ® frozen garlic bread . The 15.6 % increase in Retail segment net sales reflects significant growth on top of the 16.6 % increase we reported in last year's first quarter . In the Foodservice segment , sales grew 8.1 % driven by inflationary pricing and volume growth for our branded Foodservice products . As expected , we experienced significant cost inflation during the quarter that reduced our profit before our pricing initiatives took full effect . " " As we continue to navigate through the impacts of the COVID - 19 pandemic and the associated supply chain challenges , I am very thankful for the tremendous support and ongoing commitment of the entire Lancaster Colony team to service and grow our business . Our top priorities remain the health , safety and welfare of our employees and continuing to play our part in the country's vital food supply chain . " " Looking ahead to our fiscal second quarter , we expect our licensing program to remain an important source of growth for Retail segment sales while our Foodservice segment should continue to benefit from higher demand for our branded Foodservice products and growth from select quick - service restaurant and pizza chain customers in our mix of national chain restaurant accounts . We anticipate the inflationary environment to continue in the coming quarter , including higher commodity costs , particularly for soybean oil , along with increased costs for packaging , freight and labor . Inflationary pricing , including Retail segment pricing actions that took effect near the end of our fiscal first quarter combined with additional pricing in the Foodservice segment , will help to partially offset the input cost inflation . Our ongoing cost savings programs and other net price realization efforts will also serve to reduce the unfavorable impacts of inflation in the quarter . " MORE ...