Genesis 14:11 describes the aftermath of a battle. A coalition of kings from the east, having defeated the kings of Sodom and Gomorrah, looted the cities.

Here's a breakdown of the verse:

"They took all the goods of Sodom and Gomorrah..." This means the victorious kings plundered all the valuable possessions, riches, and movable property of the cities. Think of it as seizing everything of worth that wasn't fixed in place.
"...and all their food..." They also took all the food supplies. This was a particularly devastating blow to the inhabitants, as it meant they were now deprived of the means to sustain themselves. This likely led to famine and starvation in the immediate aftermath of the battle.
"...and went their way." They departed, taking their spoils with them. The victors were now moving on to other areas to potentially conquer or return home with their plunder.

In essence, the verse describes a complete and devastating defeat. Sodom and Gomorrah were stripped bare, leaving their inhabitants vulnerable and helpless.

This verse is important in the context of the wider story because it provides the backdrop for the events that follow, where Abraham goes to rescue his nephew Lot, who was living in Sodom and was also captured along with the city's inhabitants. The looting of Sodom and Gomorrah sets the stage for Abraham's intervention and highlights the wickedness of those cities which would later be destroyed by God.