Unifi, Inc. (NYSE:UFI) Q1 2024 Earnings Call Transcript

Anthony Lebiedzinski: Understood. Okay, thank you for that. And then so as you look at the business kind of longer term and obviously, the current demand environment is not good at the moment. But do you think perhaps maybe there is an opportunity for some facility consolidation, maybe perhaps some streamlining opportunities. I mean you do have a lot of fixed cost and a lot of, again, facilities here in the U.S. So how do you think about this longer term in the context of this environment that we’re in? And you mentioned also that retailers may be more careful as far as placing new orders. So just to understand, what are your longer-term thoughts on that?

Edmund Ingle: Good question. First of all, on the retailers, I think they are going to be cautious around what they order. But what that does mean they will be waiting until the last minute. But when the last minute comes, we do expect to see a sort of sharp increase in demand, especially in Central America as the inventories are finally destocked and the consumer demand gets back to more normal. But from a fixed cost point of view, we are looking at that all the time. We’ve done a lot of work already around trying to reduce our fixed costs. We are very diligent about looking at all and every options. And as we move through the fiscal year, we’re going to be looking at what is the real demand out there in the marketplace and we’re adjusting accordingly.

Anthony Lebiedzinski: Okay. Understood. Okay, well thank you very much and best of luck.

Edmund Ingle: Thank you very much. Thank you Anthony.

Operator: There are no further questions at this time. This concludes today’s conference call. You may now disconnect.