Unifi Plunges to Loss as Brands and Retailers Destock
Broadly in line with its pre-announcement two weeks ago, Unifi’s bottom line swung deep into the red with an $18,037,000 loss in the fiscal second quarter ended Jan. 1 against a profit of $929,000, as revenues fell 32% to $136,212,000 from $201,410,000. The maker of REPREVE and other recycled and synthetic yarns reiterated that demand was hurt by brands and retailers destocking in the Americas and Asia regions. REPREVE accounted for 31% of ... Log in to view full article.