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Unifi ( (UFI) ) has provided an announcement.
On February 3, 2025, Unifi, Inc. announced the closure of its Madison, North Carolina facility as part of a consolidation strategy to enhance efficiency by relocating operations to other facilities in North and Central America. This move will result in up to 250 job losses and incur restructuring charges estimated between $5.0 million and $7.5 million. UNIFI released its second fiscal quarter results for the period ending December 29, 2024, showing a net loss of $11.4 million compared to a $19.8 million loss in the previous year. Despite a slight increase in net sales to $138.9 million, gross profit decreased due to adverse sales mix and pricing dynamics. The company is optimistic about future growth, driven by sustainable product demand and operational optimization, aiming to improve profitability and shareholder value.
More about Unifi
UNIFI, Inc. is a global leader in fiber science and sustainable synthetic textiles, using proprietary recycling technology to transform post-industrial and post-consumer waste into sustainable products. Known for REPREVE, a leading brand of traceable, recycled fiber and resin, UNIFI operates directly in the United States, Colombia, El Salvador, and Brazil, with sales offices worldwide.
YTD Price Performance: 2.82%
Average Trading Volume: 56,383
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $113.3M
Learn more about UFI stock on TipRanks’ Stock Analysis page.
