Demand trends across apparel producers continue to weigh on near-term operating performance GREENSBORO, N.C., January 19, 2023 –( BUSINESS WIRE )–Unifi, Inc. (NYSE: UFI) (together with its consolidated subsidiaries, "UNIFI"), makers of REPREVE and one of the world’s leading innovators in recycled and synthetic yarns, today announced preliminary results for its second fiscal quarter ended January 1, 2023 and scheduled its second quarter fiscal 2023 earnings conference call. For the second quarter of fiscal 2023, UNIFI expects: Net sales between $135 million and $137 million, a decrease of approximately 24% to 25% from the first quarter of fiscal 2023, compared to the previous expectation of a 10% to 15% decrease; Negative gross margin between (5.5%) and (6.5%); Operating loss between $19.0 million and $21.0 million; Loss before income taxes between $20.0 million and $22.0 million; and Adjusted EBITDA between ($12.0) million and ($14.0) million, compared to the previous expectation of between $0.0 million and ($5.0) million. Eddie Ingle, Chief Executive Officer of UNIFI, said, "Our business continued to face a difficult operating environment in the second fiscal quarter, and our results for the period are a reflection of continued demand disruption from inventory destocking and slowed global apparel production, […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
