UNIFI INC Files 8-K on Financials and Disclosures

TL;DR

UNIFI INC dropped an 8-K on Feb 3rd covering financials, exit costs, and Reg FD. Check it out.

AI Summary

On February 3, 2025, UNIFI, INC. filed an 8-K report detailing results of operations and financial condition, costs associated with exit or disposal activities, and Regulation FD disclosures. The filing also includes financial statements and exhibits.

Why It Matters

This 8-K filing provides crucial updates on UNIFI's financial performance and any significant operational changes or disclosures that could impact investors.

Risk Assessment

Risk Level: low — This is a routine 8-K filing providing standard corporate disclosures and financial updates.

Key Players & Entities

• UNIFI, INC. (company) — Registrant
• February 03, 2025 (date) — Date of earliest event reported
• New York (jurisdiction) — State of incorporation
• 7201 West Friendly Avenue (address) — Address of principal executive offices
• Greensboro (city) — Principal executive offices location
• North Carolina (state) — Principal executive offices location

FAQ

Key Financial Figures

• $0.10 — ch registered Common Stock, par value $0.10 per share UFI New York Stock Exchan
• $5.0 million — restructuring charges of approximately $5.0 million to $7.5 million related to the facility
• $7.5 million — harges of approximately $5.0 million to $7.5 million related to the facility's closure. The
• $2.0 million — range of restructuring charges includes $2.0 million to $3.5 million for equipment relocatio
• $3.5 million — turing charges includes $2.0 million to $3.5 million for equipment relocation or disposal co
• $3.0 million — tion or disposal costs, $2.0 million to $3.0 million of costs for employee retention or sepa
• $1.0 million — oyee retention or separation, and up to $1.0 million for other closure-related costs includi
• $9.0 million — ssociated with the Madison facility was $9.0 million as of December 29, 2024. The aforemen

Filing Documents

• ufi-20250203.htm (8-K) — 54KB
• ufi-ex99_1.htm (EX-99.1) — 743KB
• ufi-ex99_2.htm (EX-99.2) — 17KB
• ufi-ex99_3.htm (EX-99.3) — 17KB
• img83572333_0.jpg (GRAPHIC) — 16KB
• ufi-ex99_2s1.jpg (GRAPHIC) — 256KB
• ufi-ex99_2s2.jpg (GRAPHIC) — 789KB
• ufi-ex99_2s3.jpg (GRAPHIC) — 227KB
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• ufi-ex99_2s6.jpg (GRAPHIC) — 462KB
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• ufi-ex99_2s8.jpg (GRAPHIC) — 392KB
• ufi-ex99_2s9.jpg (GRAPHIC) — 319KB
• ufi-ex99_2s10.jpg (GRAPHIC) — 423KB
• ufi-ex99_2s11.jpg (GRAPHIC) — 322KB
• ufi-ex99_2s12.jpg (GRAPHIC) — 266KB
• ufi-ex99_2s13.jpg (GRAPHIC) — 339KB
• ufi-ex99_2s14.jpg (GRAPHIC) — 375KB
• ufi-ex99_2s15.jpg (GRAPHIC) — 333KB
• ufi-ex99_2s16.jpg (GRAPHIC) — 182KB
• 0000950170-25-014536.txt ( ) — 8859KB
• ufi-20250203.xsd (EX-101.SCH) — 24KB
• ufi-20250203_htm.xml (XML) — 5KB

02. Results of Operations and Financial Condition

Item 2.02. Results of Operations and Financial Condition. On February 5, 2025, the Company issued a press release announcing its operating results for the fiscal second quarter ended December 29, 2024, a copy of which is attached hereto as Exhibit 99.1.

05. Costs Associated with Exit or Disposal Activities

Item 2.05. Costs Associated with Exit or Disposal Activities. On February 3, 2025, Unifi, Inc. issued a news release announcing that its wholly-owned subsidiary, Unifi Manufacturing, Inc. (together referred to as "UNIFI" or the "Company"), will be closing its facility in Madison, North Carolina, and transitioning those manufacturing operations to other production facilities in North and Central America. The footprint reduction will improve efficiency and allow for a significant increase in utilization rates at the other production facilities. The consolidation of the Company's yarn manufacturing operations is expected to result in the elimination of up to 250 positions at the Madison facility. The property is currently being marketed for sale and it is anticipated that operations at the Madison facility will cease by the end of September 2025. UNIFI expects to incur restructuring charges of approximately $5.0 million to $7.5 million related to the facility's closure. The estimated range of restructuring charges includes $2.0 million to $3.5 million for equipment relocation or disposal costs, $2.0 million to $3.0 million of costs for employee retention or separation, and up to $1.0 million for other closure-related costs including asset impairment. UNIFI expects that the restructuring charges, other than any asset impairment, will consist of cash payments, which are anticipated to begin in the third quarter of fiscal 2025 and continue through the end of this calendar year. Total net book value of fixed assets associated with the Madison facility was $9.0 million as of December 29, 2024. The aforementioned restructuring amounts represent the Company's best estimates as of the filing date and such estimates are subject to change during the facility closing process.

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure. On February 6, 2025, the Company will host a conference call to discuss its operating results for the fiscal second quarter ended December 29, 2024. A copy of the materials prepared for use by management during this conference call is attached hereto as Exhibit 99.2.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Press Release of Unifi, Inc., dated February 5, 2025. 99.2 Earnings Call Presentation Materials. 99.3 News Release dated February 3, 2025. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). The information in this Current Report on Form 8-K, including the exhibits attached hereto, is being furnished and shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in any such filing.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. UNIFI, INC. Date: February 5, 2025 By: /s/ ANDREW J. EAKER Andrew J. Eaker Executive Vice President & Chief Financial Officer Treasurer

View Full Filing

View this 8-K filing on SEC EDGAR