secwatch.observer — SEC 8-K summary
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Issuer:     UNIFI INC (UFI)
CIK:        0000100726
Form:       8-K
Filed at:   2023-01-19T23:59:59+00:00
Accession:  0000950170-23-000892
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Unifi pre-announces Q2 FY2023 net sales down ~24-25% sequentially; operating loss expected $19-$21M
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- Net sales $135-$137M, down 24-25% from Q1; prior guidance was 10-15% decrease.
- Negative gross margin (5.5%-6.5%); operating loss $19-$21M; loss before taxes $20-$22M.
- Adjusted EBITDA loss $12-$14M, worse than prior expectation of $0 to -$5M loss.
- CEO cites inventory destocking and COVID-19 in China as key headwinds; cost controls implemented.
- Credit facility amended and extended on Oct 28, 2022 for additional liquidity.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/100726/000095017023000892/0000950170-23-000892-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/100726/000095017023000892/ufi-20230119.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-000892

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