UniFirst(US:UNF)2024-11-14 21:46Manufacturing and Production - In fiscal 2024, the company manufactured approximately 65% of the garments placed in service, primarily work pants and shirts, at plants in San Luis Potosi, Mexico, and Managua, Nicaragua [204][212]. - The company manufactures approximately 99% of the mats placed in service at its plant in Cave City, Arkansas [212]. Product Offerings - The company provides a wide range of uniform products, including shirts, pants, jackets, and specialized protective wear, catering to various industries, including nuclear facilities [205]. Sales and Marketing - The company employs a large team of trained sales representatives to market services and develop new accounts, focusing on both traditional rental and direct sale programs [209]. Competition - The company faces competition from major players like Cintas Corporation and Alsco, as well as numerous smaller businesses in the uniform rental and sales industry [211]. Financial Management - The company has entered into forward contracts to exchange approximately 14.1 million CAD for U.S. dollars at an average exchange rate of 0.7861, qualifying as a cash flow hedge under U.S. GAAP [501]. - During fiscal 2024, transaction losses included in other expense, net, amounted to $0.5 million, with potential exchange gains or losses of approximately $0.8 million if exchange rates had changed by 10% [502]. Talent Management - The company emphasizes recruiting, developing, and retaining talent through continuous training and leadership development programs [213]. Regulatory Environment - The company’s nuclear garment decontamination facilities are subject to regulation by federal and state authorities, which may impact operations [219]. Supply Chain - The company has experienced limited difficulty in obtaining raw materials, although there have been instances of cost increases and sourcing from alternative suppliers [212].