UNIFI®, Makers of REPREVE®, Announces First Quarter Fiscal 2024 Results
Net sales were $138.8 million, a decrease of 22.7% from the first quarter of fiscal 2023, primarily due to weak apparel demand from brands and retailers.
- Net sales were $138.8 million, a decrease of 22.7% from the first quarter of fiscal 2023, primarily due to weak apparel demand from brands and retailers.
- Gross loss was $0.6 million, gross margin was (0.4)%, and each was adversely impacted by lower apparel demand.
- UNIFI expects second quarter fiscal 2024 net sales, Adjusted EBITDA, and capital expenditures to be generally consistent with first quarter fiscal 2024 results, and the effective tax rate is expected to demonstrate continued volatility.
- UNIFI will provide additional commentary regarding its first quarter 2024 results and other developments during its earnings conference call on November 2, 2023, at 9:00 a.m., Eastern Time.