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current news

Unifi Cites $50.7m 3Q Decrease

(Filed Under Financial and General Interest News). Unifi, Inc. has cited a decrease of $50.7 million in net sales during the third quarter ended March 29, 2009.

Net sales dropped to $119.1 million in this quarter from $169.8 million for the prior year March quarter. The company cited “the cumulative effect of year-over-year declines in retail sales since October 2008 caused by the global recession” impacted net sales negatively.

“We expect this recession will be long and the recovery will be slow, but we have positioned ourselves well and are in a much better position to weather the storm than we were just a year ago,” said Bill Jasper, president and CEO of the company. “We expect to see gradual improvement in our business through the current quarter and the first half of our 2010 fiscal year.”

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more Financial and General Interest News >>

Published 05-01-2009 by Bruna Fernandes

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