Unifi’s Results Much Worse than Expected
The maker of REPREVE and other recycled and synthetic yarns said that revenues in the fiscal second quarter ended Jan. 1 tumbled as much as 25% to between $135 and $137 million, lower than its guidance for a 10% to 15% decline. Gross margin was negative, between -5.5% and -6.5%, and the loss before income taxes is expected to be between $20.0 and $22.0 ... Log in to view full article.
