Unifi Slashes Quarterly Guidance, Sees 2009 Upturn
By Staff -- Home Textiles Today, 1/12/2009 12:00:00 AM
Greensboro, N.C. —
Polyester and nylon textured yarn producer Unifi Inc. reduced its adjusted EBITDA guidance for its 2009 second fiscal quarterended Dec. 28 to a range of $2 to $4 million from previous guidance of $8 to $9 million.
"The revised guidance is a result of significant decreases in consumer spending coupled with high supply chain inventories," Unifi said.
"We are disappointed in having to revise our guidance at this time, particularly after the significant improvements we have made to our business in the past year," said Bill Jasper, president and ceo.
Jasper noted, "We expect sales to recover somewhat during the first six months of calendar 2009, as supply chain inventories get replenished, even though consumer spending is expected to remain weak. Accordingly, we now expect Adjusted EBITDA for the 2009 fiscal year to be in the range of $40 to $45 million."
Unifi also said it closed on the sale of some of its Yadkinville, N.C. plant and related assets for $7.0 million.
We would love your feedback!
Most Recent Resources
- Getting the most out of offline leads
- Free Shipping and the Importance of Onsite Promotion
- Should Branded Manufacturers Participate in Flash Sales?
- Rugs 101 - Special Edition
- How Big Is Your Label
- Choosing a Web Site Developer
- Convergence: Tie Your Online & Offline Experience...
- Social Networks to Social Shopping
- Why Brands and Their Retailers are Facebook’s Biggest...
- Web Based Intelligence Gathering
- The Future of Tablets
- Shopatron: Bicycles & eCommerce
- A Guide to Holiday eCommerce Success
- Mattress Buying 101 - Connecting with Consumers
- Designing Your Brand’s Website for eCommerce
- Global Sourcing in 2010: Doing More With Less
- Comparing Four Options for Turning Web Site Traffic into...
- Are You Prepared for the 2009 Holiday Season? A Branded...
- Design, Develop, Deliver: The Three D's to Digitally...