Brief: Unifi Announces Profitability Improvement Plan And Leadership Promotions

Unifi

31/01/2024 22:27

Jan 31 (Reuters) - Unifi Inc  UFI.N :
    * UNIFI®, MAKERS OF REPREVE®, ANNOUNCES PROFITABILITY
IMPROVEMENT
PLAN AND LEADERSHIP PROMOTIONS
    * UNIFI INC - COMPANY TO STREAMLINE OPERATIONS AND RESET
COSTS TO
ENHANCE MARGIN AND PROFITABILITY
    * UNIFI INC - COST RESET AND HEADCOUNT REDUCTIONS THAT ARE
EXPECTED TO LOWER EXPENSES BY $10 MILLION TO $15 MILLION
ANNUALLY
    * UNIFI INC - SALES TRANSFORMATION INITIATIVES FOCUSED ON
IMPROVING EFFICIENCIES AND PROCESSES EXPECTED TO BOLSTER
OPERATING MARGINS BY $6 MILLION ANNUALLY
    * UNIFI INC - A.J. EAKER PROMOTED TO EXECUTIVE VICE
PRESIDENT AND
CHIEF FINANCIAL OFFICER
    * UNIFI INC - RECORDED A SEVERANCE CHARGE OF $2.4 MILLION
DURING
DECEMBER 31, 2023 QUARTER
    * UNIFI INC - SAVINGS ARE EXPECTED TO BE INVESTED INTO
MARGIN
ACCRETIVE OPPORTUNITIES AND PRODUCT INNOVATION FOR REPREVE
    * UNIFI -ANTICIPATED PROFITABILITY IMPROVEMENT AS RESULT OF
EXECUTION OF PLAN EXPECTED TO REACH $20 MILLION ON ANNUAL
RUN-RATE BASIS AT START OF FISCAL 2025

Source text for Eikon:  ID:nBwbmkz7Pa 
Further company coverage:  UFI.N 

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