UniFirst Corp Q1 FY21 sales fall 4% to $447 mn

11 Jan '21

2 min read

Pic: Unifirst Corporation

UniFirst Corp, a North American leader in the supply and servicing of uniform and workwear programmes, reported 4.0 per cent sales decline to $446.9 million in its first quarter (Q1) FY21 ended on November 28, 2020, compared to sales of $465.3 million in same period previous fiscal. Net income for the quarter fell $41.8 million (Q1 FY20: $48.2 million).

“Overall, we are pleased with our first quarter results which were achieved despite the impact that the Covid-19 pandemic continues to have on our business and the economy as a whole. As a Company, our top priorities continue to be the safety of our employee Team Partners as well as servicing our customers, many of whom are critical to keeping our communities up and running,” Steven Sintros, UniFirst president and chief executive officer, said in a press release.

Cost of revenues were down to $275.8 million ($289.3 million). Company’s operating income in Q1 fell 6.7 per cent to $56.0 million ($60.0 million).

During Q1 FY21, revenues for core laundry operations segment decreased 5.6 per cent to $393.2 million primarily due to the continued impact of the Covid-19 pandemic on our customers’ operations and wearer levels.

Revenues for specialty garments jumped 14.2 per cent to $38.1 million due to higher direct sales and project-related work in the US and Canadian nuclear operations as well as growth in our cleanroom operations.

Fibre2Fashion News Desk (JL)

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