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Unifi, Inc. (symbol: UFI) is a leading innovator in the global textile industry, renowned for its manufacturing and sale of synthetic and recycled products. Headquartered in North Carolina, Unifi has established a strong domestic and international presence with manufacturing facilities in Yadkinville, Madison, and Reidsville, NC, and operations extending to Brazil, Central America, and China.
Unifi's core business revolves around producing high-quality polyester and nylon yarns. Their product line includes partially oriented yarn (POY), textured, solution and package dyed, twisted, beamed, and draw wound yarns, available in both virgin and recycled varieties. Unifi's offerings cater to various sectors, including apparel, hosiery, home furnishings, automotive, and industrial markets.
Committed to sustainability, Unifi operates its own recycling center and implements extensive recycling practices. The company collects and reuses motor oil to heat its maintenance facility, recycles water within its system, and reclaims energy from dye baths and drying equipment. Unifi's continuous research and innovation efforts aim to develop ecologically sound solutions and products.
Unifi's products are featured by prominent brands and retailers such as Ford, Patagonia, North Face, and Vitamin A Swimwear, reflecting the company's significant impact on the industry. The company offers a range of specialized yarns, premium value-added (PVA) yarns, and commodity yarns, serving principal geographic markets in the Americas, Europe, and Asia.
Recently, Unifi has achieved notable milestones, including expanding its international footprint and enhancing its product offerings to meet the growing demand for sustainable and innovative textile solutions. The company's commitment to green practices and continuous improvement underscores its role as a leader in the textile industry.
Unifi, Inc. (NYSE: UFI) has announced preliminary results for its third fiscal quarter ended April 2, 2023. The company expects net sales between
Unifi, Inc. (NYSE: UFI) reported second-quarter fiscal 2023 results, revealing net sales of $136.2 million, down 32.4% year-over-year, primarily due to demand disruption in apparel production. The gross loss amounted to $8 million with a gross margin of -5.9%, compared to a profit of $16.9 million and a margin of 8.4% in the previous year. Net loss reached $18 million, or $1.00 per share, against a profit of $0.9 million, or $0.05 per share, last year. Despite these challenges, operating cash flow improved to $7.3 million from a loss of $4 million a year prior. Management remains optimistic about recovering demand in the latter half of the year.
Unifi, Inc. (NYSE: UFI) has announced preliminary results for its second fiscal quarter ended January 1, 2023. The company expects net sales of $135 million to $137 million, reflecting a 24% to 25% decrease compared to the previous quarter, worse than the anticipated 10% to 15%. A negative gross margin is expected between (5.5%) and (6.5%), with an operating loss projected between $19.0 million and $21.0 million. Adjusted EBITDA is expected to be between ($12.0 million) and ($14.0 million). CEO Eddie Ingle cited continued demand disruptions and inventory destocking as significant challenges but remains optimistic about long-term growth and cost-saving measures.
Unifi Inc. (NYSE: UFI) has expanded its Textile Takeback™ program, aiming to recycle polyester-based fabric waste into REPREVE®, a leading recycled performance fiber. This initiative addresses the industry's growing textile waste issue by converting discarded materials into new products, fostering a circular supply chain. With over 35 billion plastic bottles recycled since 1971, Unifi is committed to sustainable innovation. The expanded program will offer accessible sustainable solutions to partners globally, further promoting environmental responsibility, as stated by CEO Eddie Ingle.
Unifi, Inc. (NYSE: UFI) reported Q1 fiscal 2023 results, revealing a net sales decline of 8.4% to $179.5 million due to temporary demand disruptions. Gross profit fell to $6.6 million from $26.1 million, resulting in an operating loss of $4.7 million. Net loss reached $7.8 million, or $0.44 per share, contrasting with a net income of $8.7 million in the prior year. To enhance liquidity, Unifi amended its credit facility, increasing borrowing capacity to $230 million. The outlook remains cautious, with expectations for lower sales in Q2 and ongoing profitability pressures.
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