ATLANTA — Unifi, Inc. reported a loss of $676,000, or 1 cent per share, in net income for the first quarter, ended Sept. 28, which the Greensboro, N.C.-based fiber company blamed on a continuing decline in sales of existing homes, cars and light trucks.
However, increased sales of Unifi’s premium value-added yarns and other product mix enrichments for markets including apparel contributed to year-over-year margin improvements. The loss compares with a loss of $9.2 million, or 15 cents per share, in the prior third quarter.
Net sales decreased slightly to $169 million from $170,5 million a year ago. Unifi said net sales were positively affected by volume gains in Brazil and strength in its nylon business, which continues to be driven by consumer and fashion preferences.
Peter Kim's Los Angeles-based premium denim line has always had its finger on the pulse of youth. This season, novelty is back in a way reminiscent of early Aughts, with studs, lace-ups, racing waxed denim and more. For more highlights if some of the key brands at the Vegas trade shows, go to WWD.com. #wwdfashion (📷: Patrick Gray; Styled by @thealexbadia; Story by @karihamanaka and @marcy_wwd)
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