0001564590-22-030581 | 10-K | XBRL Viewer

$ 217,576

^[1]

$ 200,780

^[1]

$ 201,410

^[1]

$ 195,992

^[1]

$ 184,445

^[2]

$ 178,866

^[2]

$ 162,776

^[2]

$ 141,505

^[2]

$ 815,758

$ 667,592

$ 606,509

735,273

574,098

567,469

Selling, general and administrative expenses

18,354

^[3]

19,144

^[3]

16,890

^[3]

26,097

^[3]

27,404

^[4]

25,595

^[4]

25,934

^[4]

14,561

^[4]

80,485

93,494

39,040

52,489

51,334

43,814

(Benefit) provision for bad debts

(445)

(1,316)

1,739

Other operating (income) expense, net

(158)

4,865

2,308

Operating income (loss)

28,599

38,611

(8,821)

Interest income

(1,524)

(603)

(722)

Interest expense

3,085

3,323

4,779

Equity in (earnings) loss of unconsolidated affiliates

(605)

(739)

477

Recovery of non-income taxes, net

815

(9,717)

Gain on sale of investment in unconsolidated affiliate

(2,284)

Impairment of investment in unconsolidated affiliate

45,194

Income (loss) before income taxes

26,828

46,347

(56,265)

Provision for income taxes

11,657

17,274

972

$ 3,496

^[5]

$ 2,066

^[5]

$ 929

^[5]

$ 8,680

^[5]

$ 13,419

^[6]

$ 4,758

^[6]

$ 7,464

^[6]

$ 3,432

^[6]

$ 15,171

$ 29,073

$ (57,237)

Net income (loss) per common share:

Basic

$ 0.19

^[7]

$ 0.11

^[7]

$ 0.05

^[7]

$ 0.47

^[7]

$ 0.73

^[7]

$ 0.26

^[7]

$ 0.40

^[7]

$ 0.19

^[7]

$ 0.82

$ 1.57

$ (3.10)

Diluted

$ 0.19

^[7]

$ 0.11

^[7]

$ 0.05

^[7]

$ 0.46

^[7]

$ 0.70

^[7]

$ 0.25

^[7]

$ 0.40

^[7]

$ 0.18

^[7]

$ 0.80

$ 1.54

$ (3.10)

[1]	The fiscal quarter ending July 3, 2022 included an additional week of sales of approximately $8,700.
[2]	Net sales for the fiscal quarters ended September 27, 2020 and December 27, 2020 includes adverse demand pressures from the COVID-19 pandemic.
[3]	Gross profit for our domestic operations for all fiscal quarters of fiscal 2022 includes adverse pressures from (i) higher raw material costs, (ii) rising input costs, and (iii) the weakening of labor productivity.
[4]	Gross profit for the fiscal quarter ended September 27, 2020 includes adverse demand pressures from the COVID-19 pandemic. Gross profit for the fiscal quarters ended December 27, 2020, March 28, 2021, and June 27, 2021 includes the benefit of exceptional performance by the Brazil Segment primarily due to higher conversion margin and market share capture due to agility and responsiveness during demand recovery in Brazil.
[5]	Net income for our domestic operations for all fiscal quarters of fiscal 2022 includes the adverse pressures on gross profit.
[6]	Net income for the fiscal quarter ended September 27, 2020 includes adverse demand pressures from the COVID-19 pandemic. Net income for the fiscal quarter ended June 27, 2021 includes a recovery of non-income taxes in Brazil due to the favorable conclusion of litigation related to excess social program taxes for multiple prior years.
[7]	Income per share is computed independently for each of the periods presented. The sum of the income per share amounts for the fiscal quarters may not equal the total for the fiscal year.

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2022	Jun. 27, 2021	Jun. 28, 2020
Net income (loss)	$ 15,171	$ 29,073	$ (57,237)
Other comprehensive (loss) income:
Foreign currency translation adjustments	(7,125)	9,368	(21,027)
Changes in interest rate swaps, net of tax of $282, $310 and $446, respectively	952	1,006	(1,458)
Other comprehensive (loss) income, net	(6,173)	10,374	(20,577)
Comprehensive income (loss)	$ 8,998	$ 39,447	(77,814)
Unconsolidated Affiliates [Member]
Other comprehensive (loss) income:
Foreign currency translation adjustments			$ 1,908

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Amount after tax and reclassification adjustments of other comprehensive income (loss).

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Organization Consolidation And Presentation Of Financial Statements [Abstract]

Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2022	Jun. 27, 2021	Jun. 28, 2020
Statement Of Income And Comprehensive Income [Abstract]
Changes in interest rate swaps, tax	$ 282	$ 310	$ (446)

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Capital in Excess of Par Value [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Loss [Member]
Balance at Jun. 30, 2019	$ 392,845	$ 1,846	$ 59,560	$ 374,668	$ (43,229)
Balance (in shares) at Jun. 30, 2019		18,462,000
Options exercised	29	$ 1	28
Options exercised (in shares)		10,000
Stock-based compensation	3,611	$ 1	3,610
Stock-based compensation (in shares)		4,000
Conversion of equity units		$ 8	(8)
Conversion of equity units (in shares)		76,000
Common stock repurchased and retired under publicly announced programs	(1,994)	$ (8)	(279)	(1,707)
Common stock repurchased and retired under publicly announced program (in shares)		(84,000)
Common stock withheld in satisfaction of tax withholding obligations under net share settle transactions	(522)	$ (3)	(519)
Common stock withheld in satisfaction of tax withholding obligations under net share settle transactions (in shares)		(22,000)
Other comprehensive income (loss), net of tax	(20,577)				(20,577)
Net income (loss)	(57,237)			(57,237)
Balance at Jun. 28, 2020	316,155	$ 1,845	62,392	315,724	(63,806)
Balance (in shares) at Jun. 28, 2020		18,446,000
Options exercised (in shares)		1,000
Stock-based compensation	3,138	$ 1	3,137
Stock-based compensation (in shares)		4,000
Conversion of equity units		$ 4	(4)
Conversion of equity units (in shares)		45,000
Common stock withheld in satisfaction of tax withholding obligations under net share settle transactions	(321)	$ (1)	(320)
Common stock withheld in satisfaction of tax withholding obligations under net share settle transactions (in shares)		(6,000)
Other comprehensive income (loss), net of tax	10,374				10,374
Net income (loss)	29,073			29,073
Balance at Jun. 27, 2021	$ 358,419	$ 1,849	65,205	344,797	(53,432)
Balance (in shares) at Jun. 27, 2021	18,490,338	18,490,000
Options exercised	$ 28	$ 1	27
Options exercised (in shares)	10,000	16,000
Stock-based compensation	$ 3,291	$ 1	3,290
Stock-based compensation (in shares)		5,000
Conversion of equity units		$ 11	(11)
Conversion of equity units (in shares)		107,000
Common stock repurchased and retired under publicly announced programs	$ (9,151)	$ (62)	(2,257)	(6,832)
Common stock repurchased and retired under publicly announced program (in shares)	(701)	(617,000)
Common stock withheld in satisfaction of tax withholding obligations under net share settle transactions	$ (136)	$ (2)	(134)
Common stock withheld in satisfaction of tax withholding obligations under net share settle transactions (in shares)		(22,000)
Other comprehensive income (loss), net of tax	(6,173)				(6,173)
Net income (loss)	15,171			15,171
Balance at Jul. 03, 2022	$ 361,449	$ 1,798	$ 66,120	$ 353,136	$ (59,605)
Balance (in shares) at Jul. 03, 2022	17,979,362	17,979,000

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2022	Jun. 27, 2021	Jun. 28, 2020
Statement Of Cash Flows [Abstract]
Cash and cash equivalents at beginning of year	$ 78,253	$ 75,267	$ 22,228
Operating activities:
Net income (loss)	15,171	29,073	(57,237)
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in (earnings) loss of unconsolidated affiliates	(605)	(739)	477
Distributions received from unconsolidated affiliates	750	750	10,437
Depreciation and amortization expense	26,207	25,528	23,653
Non-cash compensation expense	3,555	3,462	3,999
Deferred income taxes	(3,119)	5,087	(4,011)
Loss on disposal of assets	48	2,809	160
Recovery of non-income taxes, net	815	(9,717)
Impairment of investment in unconsolidated affiliate			45,194
Gain on sale of investment in unconsolidated affiliate			(2,284)
Other, net	(99)	(495)	(444)
Changes in assets and liabilities:
Receivables, net	(13,533)	(40,059)	29,964
Inventories	(34,749)	(28,069)	15,792
Other current assets	(2,860)	2,409	3,625
Income taxes	2,193	2,978	(113)
Accounts payable and other current liabilities	8,937	40,909	(17,328)
Other non-current assets	360	139	46
Other non-current liabilities	(2,691)	2,616	794
Net cash provided by operating activities	380	36,681	52,724
Investing activities:
Capital expenditures	(39,631)	(21,178)	(18,509)
Purchases of intangible assets		(3,605)
Proceeds from sale of investment in unconsolidated affiliate			60,000
Other, net	(2,103)	162	83
Net cash (used) provided by investing activities	(41,734)	(24,621)	41,574
Financing activities:
Proceeds from ABL Revolver	158,000		122,200
Payments on ABL Revolver	(116,700)		(141,600)
Payments on ABL Term Loan	(12,500)	(10,000)	(10,000)
Proceeds from construction financing	2,340	882
Payments on finance lease obligations	(3,707)	(3,646)	(6,035)
Common stock repurchased and retired under publicly announced program	(9,151)		(1,994)
Common stock withheld in satisfaction of tax withholding obligations under net share settle transactions	(345)	(111)	(522)
Other	28		29
Net cash provided (used) by financing activities	17,965	(12,875)	(37,922)
Effect of exchange rate changes on cash and cash equivalents	(1,574)	3,801	(3,337)
Net (decrease) increase in cash and cash equivalents	(24,963)	2,986	53,039
Cash and cash equivalents at end of year	$ 53,290	$ 78,253	$ 75,267

Background

12 Months Ended

Jul. 03, 2022

Background

1. Background

Overview

Unifi, Inc., a New York corporation formed in 1969 (together with its subsidiaries, “UNIFI,” the “Company,” “we,” “us” or “our”), is a multinational company that manufactures and sells innovative recycled and synthetic products, made from polyester and nylon, primarily to other yarn manufacturers and knitters and weavers (UNIFI’s “direct customers”) that produce yarn and/or fabric for the apparel, hosiery, home furnishings, automotive, industrial, and other end-use markets (UNIFI’s “indirect customers”). We sometimes refer to these indirect customers as “brand partners.” Polyester products include partially oriented yarn (“POY”), textured, solution and package dyed, twisted, beamed, and draw wound yarns, and each is available in virgin or recycled varieties. Recycled solutions, made from both pre-consumer and post-consumer waste, include plastic bottle flake (“Flake”), polyester polymer beads (“Chip”), and staple fiber. Nylon products include virgin or recycled textured, solution dyed, and spandex covered yarns.

UNIFI maintains one of the textile industry’s most comprehensive product offerings that include a range of specialized, value-added and commodity solutions, with principal geographic markets in the North America, Central America, South America, Asia, and Europe. UNIFI has direct manufacturing operations in four countries and participates in joint ventures with operations in Israel and the United States (“U.S.”).

Fiscal Year

The fiscal year for Unifi, Inc., its domestic subsidiaries and its subsidiary in El Salvador ends on the Sunday in June or July nearest to June 30 of each year. Unifi, Inc.’s fiscal 2022, 2021, and 2020 ended on July 3, 2022, June 27, 2021, and June 28, 2020, respectively.

Unifi, Inc.’s remaining material operating subsidiaries’ fiscal years end on June 30. There have been no significant transactions or events that occurred between Unifi, Inc.’s fiscal year end and such wholly owned subsidiaries’ fiscal year ends.

Unifi, Inc.’s fiscal 2022 consisted of 53 weeks, while fiscal 2021 and 2020 each consisted of 52 weeks.

Current Economic Environment

UNIFI evaluated GAAP requirements for the consideration of forecasted financial information, including, but not limited to, the carrying value of long-lived assets in context with the information reasonably available to UNIFI and the unknown future impacts of the economic environment as of July 3, 2022 and through the date of this filing. As a result of these evaluations, there were no impairments or material changes to asset balances that impacted UNIFI's consolidated financial statements as of and for the period ended July 3, 2022.

Summary of Significant Accounting Policies

12 Months Ended

Jul. 03, 2022

Notes To Financial Statements [Abstract]

Summary of Significant Accounting Policies

2. Summary of Significant Accounting Policies

UNIFI follows U.S. generally accepted accounting principles (“GAAP”). The significant accounting policies described below, together with the other notes to the accompanying consolidated financial statements that follow, are an integral part of the consolidated financial statements.

Principles of Consolidation

The accompanying consolidated financial statements include the accounts of Unifi, Inc. and its subsidiaries in which it maintains a controlling financial interest. All account balances and transactions between Unifi, Inc. and the subsidiaries which it controls have been eliminated. For transactions with entities accounted for under the equity method, any intercompany profits on amounts still remaining are eliminated. Amounts originating from any deferral of intercompany profits are recorded within the account balance to which the transaction specifically relates (e.g., inventory). Only upon settlement of the intercompany transaction with a third party is the deferral of the intercompany profit recognized by UNIFI.

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make use of estimates and assumptions that affect the reported amounts of assets and liabilities, certain financial statement disclosures at the date of the financial statements, and the reported amounts of revenues and expenses during the period. UNIFI’s consolidated financial statements include amounts that are based on management’s best estimates and judgments. Actual results may vary from these estimates.

Cash and Cash Equivalents

Cash equivalents are defined as highly liquid, short-term investments having an original maturity of three months or less. Book overdrafts, for which the bank has not advanced cash, if any, are reclassified to accounts payable and reflected as an offset thereto within the accompanying consolidated statements of cash flows.

Receivables

Receivables are stated net of expected lifetime credit losses. Allowances are provided for known and potential losses arising from quality claims and for amounts owed by customers. Reserves for quality claims have not been material and are based on historical claim experience and known pending claims and are recorded as a reduction of net sales. The allowance for uncollectible accounts is recorded against operating income and reflects UNIFI’s best estimate of probable losses inherent in its accounts receivable portfolio determined on the basis of historical write off experience, aging of trade receivables, specific allowances for known troubled accounts, and other currently available information. Customer accounts are written off against the allowance for uncollectible accounts when they are no longer deemed to be collectible.

Inventories

UNIFI’s inventories are valued at the lower of cost or net realizable value, with the cost for the majority of its inventory determined using the first-in, first-out method. Certain foreign inventories and limited categories of supplies are valued using the average cost method. UNIFI’s estimates for net realizable value related to obsolete, slow-moving, or excess inventories are based upon many factors, including historical recovery rates, inventory age, the expected net realizable value of specific products, and current economic conditions.

Debt Issuance Costs

Debt issuance costs for revolving credit arrangements are immaterial. All other debt issuance costs are recorded against long-term debt and amortized as additional interest expense using the effective interest method. In the event of any prepayment of its debt obligations, UNIFI accelerates the recognition of a pro-rata amount of issuance costs.

Property, Plant and Equipment

Property, plant, and equipment (“PP&E”) are stated at historical cost less accumulated depreciation. Plant and equipment under finance leases are stated at the present value of minimum lease payments less accumulated amortization. Additions or improvements that substantially extend the useful life of a particular asset are capitalized. Depreciation is calculated primarily utilizing the straight-line method over the following useful lives:

Asset categories		Useful lives in years
Land improvements		5 to 20
Buildings and improvements		10 to 40
Machinery and equipment		2 to 25
Computer, software and office equipment		3 to 7
Internal software development costs		3
Transportation equipment		3 to 15

Leasehold improvements are depreciated over the lesser of their estimated useful lives or the remaining term of the lease.

Assets under finance leases are amortized in a manner consistent with UNIFI’s normal depreciation policy if ownership is transferred by the end of the lease or if there is a bargain purchase option. If such ownership criteria are not met, amortization occurs over the shorter of the lease term or the asset’s useful life.

UNIFI capitalizes its costs of developing internal software when the software is used as an integral part of its manufacturing or business processes and the technological feasibility has been established. Internal software costs are amortized over a period of three years and, in accordance with the nature of the project, charged to cost of sales or selling, general, and administrative expenses (“SG&A”).

Fully depreciated assets are retained in cost and accumulated depreciation accounts until they are disposed. In the case of disposals, asset costs and related accumulated depreciation amounts are removed from the accounts, and the net amounts, less proceeds from disposal, are included in the determination of net income (loss) and presented within other operating (income) expense, net.

Repair and maintenance costs related to PP&E, which do not significantly increase the useful life of an existing asset or do not significantly alter, modify or change the capabilities or production capacity of an existing asset, are expensed as incurred.

Interest is capitalized for capital projects requiring a construction period.

PP&E and other long-lived assets are tested for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset group may not be recoverable. Long-lived assets to be disposed of by sale within one year are classified as held for sale and are reported at the lower of their carrying amount or fair value less cost to sell. Depreciation ceases for all assets classified as held for sale. Long-lived assets to be disposed of other than by sale are classified as held for use until they are disposed of and these assets are reported at the lower of their carrying amount or estimated fair value.

Intangible Assets

Finite-lived intangible assets, such as customer lists, non-compete agreements, and trademarks are amortized over their estimated useful lives. UNIFI periodically evaluates the reasonableness of the useful lives of these assets. Once these assets are fully amortized, they are removed from the accounts. These assets (asset groups) are reviewed for impairment or obsolescence whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If impaired, intangible assets are written down to fair value based on discounted cash flows or other valuation techniques. UNIFI has no intangible assets with indefinite lives.

Investments in Unconsolidated Affiliates

UNIFI evaluates its investments in unconsolidated affiliates for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable.

During fiscal 2020, UNIFI owned a 34% interest in PAL (the “PAL Investment”) and Parkdale, Incorporated (“Parkdale”) owned the majority 66% interest. During March 2020, UNIFI commenced negotiations to sell the PAL Investment to Parkdale. Such negotiations indicated that the fair value of the PAL Investment was less than UNIFI’s carrying value and UNIFI no longer intended to hold the PAL Investment to allow recovery of the carrying value. UNIFI recorded an other-than-temporary impairment of $45,194 to adjust the PAL Investment to fair value. In April 2020, UNIFI and Parkdale finalized negotiations to sell UNIFI’s PAL Investment to Parkdale for $60,000. The transaction closed on April 29, 2020, and UNIFI received $60,000 in cash.

Derivative Instruments

All derivatives are carried on the balance sheet at fair value and are classified according to their asset or liability position and the expected timing of settlement. For cash flow hedges, the effective portion of gains and losses are recorded in accumulated other comprehensive loss until the underlying transactions are recognized in income. When the hedged item is realized, gains or losses are reclassified from accumulated other comprehensive loss to current period earnings on the same line item as the underlying transaction.

Derivatives that are not designated for hedge accounting are marked to market at the end of each period with the changes in fair value recognized in current period earnings. Settlements of any cash flow derivative contracts are classified as cash flows from operating activities. There were no outstanding derivative instruments as of July 3, 2022.

Fair Value Measurements

The accounting guidance for fair value measurements and disclosures establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants in the principal market, or, if none exists, the most advantageous market, for the specific asset or liability at the measurement date (the exit price). Fair value is based on assumptions that market participants would use when pricing the asset or liability. The hierarchy gives the highest priority to unadjusted quoted prices in active markets and the lowest priority to unobservable inputs. UNIFI uses the following to measure fair value for its assets and liabilities.

•

Level 1 – Observable inputs that reflect quoted prices for identical assets or liabilities in active markets.

•

Level 2 – Inputs other than quoted prices included in Level 1 that are observable for the asset or liability either indirectly or directly.

•

Level 3 – Unobservable inputs reflecting management’s own assumptions about the inputs used in pricing the asset or liability.

The classification of assets and liabilities within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement in its entirety.

UNIFI believes that there have been no significant changes to its credit risk profile or the interest rates available to UNIFI for debt issuances with similar terms and average maturities, and UNIFI estimates that the fair values of its debt obligations approximate the carrying amounts. Other financial instruments include cash and cash equivalents, receivables, accounts payable, and accrued expenses. The financial statement carrying amounts of these items approximate the fair values due to their short-term nature.

There were no transfers into or out of the levels of the fair value hierarchy for any years presented.

Income Taxes

Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recorded to recognize the expected future tax benefits or costs of events that have been, or will be, reported in different tax years for financial statement purposes than for tax purposes. Deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which these items are expected to reverse. UNIFI reviews deferred tax assets to determine if it is more-likely-than-not they will be realized. If UNIFI determines it is not more-likely-than-not that a deferred tax asset will be realized, it records a valuation allowance to reverse the previously recognized benefit. Provision is made for taxes on undistributed earnings of foreign subsidiaries and related companies to the extent that such earnings are not deemed to be permanently invested.

UNIFI recognizes tax benefits related to uncertain tax positions if it believes it is more-likely-than-not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. UNIFI accrues for other tax contingencies when it is probable that a liability to a taxing authority has been incurred and the amount of the contingency can be reasonably estimated. Penalties and interest related to income tax expense, if incurred, are included in provision for income taxes.

Stock-Based Compensation

Compensation expense for stock awards is based on the grant date fair value and expensed over the applicable vesting period. UNIFI has a policy of issuing new shares to satisfy award exercises and conversions. For awards with a service condition and a graded vesting schedule, UNIFI has elected an accounting policy of recognizing compensation cost on a straight-line basis over the requisite service period for each separate vesting portion of the award as if the award was, in-substance, multiple awards.

Foreign Currency Translation

Assets and liabilities of foreign subsidiaries whose functional currency is other than the U.S. Dollar (“USD”) are translated at exchange rates existing at the respective balance sheet dates. Translation gains and losses are not included in determining net income (loss) but are presented in a separate component of accumulated other comprehensive loss. UNIFI translates the results of its foreign operations at the average exchange rates during the respective periods. Transaction gains and losses are included within other operating (income) expense, net.

Revenue Recognition

Revenue is recognized when performance obligations under the terms of a contract with a customer are satisfied, which primarily occurs at a point in time, upon either shipment or delivery to the customer. Revenue is recognized over time for contracts in which the associated inventory produced has no alternative use and for which an enforceable right to payment exists or the associated services have been rendered. Revenue is measured as the amount of consideration UNIFI expects to receive in exchange for completing its performance obligations (i.e., transferring goods or providing services), which includes estimates for variable consideration. Variable consideration includes volume-based incentives and product claims, which are offered within certain contracts between UNIFI and its customers and is not material. Sales taxes and value added taxes assessed by governmental entities are excluded from the measurement of consideration expected to be received. Shipping and handling costs incurred after a customer has taken control of our goods are treated as a fulfillment cost and are not considered a separate performance obligation.

Cost of Sales

The major components of cost of sales are: (i) materials and supplies, (ii) labor and fringe benefits, (iii) utility and overhead costs associated with manufactured products, (iv) shipping, handling and warehousing costs, (v) depreciation expense, and (vi) all other costs related to production or service activities.

Shipping, Handling, and Warehousing Costs

Shipping, handling, and warehousing costs include costs to store goods prior to shipment, prepare goods for shipment and physically move goods to customers.

Research and Development Costs

Research and development costs include employee costs, production costs related to customer samples, operating supplies, consulting fees and other miscellaneous costs. The cost of research and development is charged to expense as incurred. Research and development costs were as follows:

	For the Fiscal Year Ended
	July 3, 2022		June 27, 2021		June 28, 2020
Research and development costs	$	12,103	$	11,483	$	11,257

Selling, General, and Administrative Expenses

The major components of SG&A expenses are: (i) costs of UNIFI’s sales organization, marketing and advertising efforts, and external commissions; (ii) costs of maintaining UNIFI’s general and administrative support functions including executive management, information technology, human resources, legal, and finance; (iii) amortization of intangible assets, and (iv) all other costs required to be classified as SG&A expenses.

Advertising Costs

Advertising costs are expensed as incurred and included in SG&A expenses. UNIFI’s advertising costs include spending for items such as consumer marketing and branding initiatives, promotional items, trade shows, sponsorships, and other programs. Advertising costs were as follows:

	For the Fiscal Year Ended
	July 3, 2022		June 27, 2021		June 28, 2020
Advertising costs	$	4,673	$	2,919	$	2,044

Self-Insurance

UNIFI self-insures certain risks such as employee healthcare claims and maintains stop-loss coverage. Reserves for incurred but not reported healthcare claims are estimated using historical data, the timeliness of claims processing, medical trends, inflation, and any changes, if applicable, in the nature or type of the plan.

Contingencies

At any point in time, UNIFI may be a party to various pending legal proceedings, claims or environmental actions. Accruals for estimated losses are recorded at the time information becomes available indicating that losses are probable and estimable. Any amounts accrued are not discounted. Legal costs such as outside counsel fees and expenses are charged to expense as incurred.

Recent Accounting Pronouncements

12 Months Ended

Jul. 03, 2022

New Accounting Pronouncements And Changes In Accounting Principles [Abstract]

Recent Accounting Pronouncements

3. Recent Accounting Pronouncements

Issued and Pending Adoption

There have been no newly issued accounting pronouncements that are expected to have a significant impact on UNIFI’s consolidated financial statements.

Recently Adopted

In June 2016, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments - Credit Losses, with an effective date consistent with UNIFI’s fiscal 2021. The new guidance requires an organization to measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions and reasonable and supportable forecasts. Financial institutions and other organizations have begun to use forward-looking information to inform their credit loss estimates. UNIFI adopted the ASU in fiscal 2021 using the modified retrospective approach and the adoption did not have a material impact to UNIFI’s financial position or results of operations.

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

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Revenue From Contract With Customer [Abstract]

Leases

12 Months Ended

Jul. 03, 2022

Leases [Abstract]

Leases

4. Leases

In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). UNIFI adopted the new lease guidance utilizing the modified retrospective transition method, applied at the date of adoption, recording existing leases as of the effective date, July 1, 2019. Under this method, no adjustment to comparative prior periods is required and, accordingly, financial statement information and disclosures required under Topic 842 will not be provided for dates and periods prior to July 1, 2019. UNIFI made no adjustment to the July 1, 2019 opening retained earnings balance for fiscal 2020.

UNIFI adopted the following practical expedients and elected the following accounting policies related to this standard update:

•

carry forward of historical lease classifications and accounting treatment for existing land easements;

•

not to reassess whether any expired or existing contracts are or contain leases;

•

not to reassess initial direct costs for any existing leases;

•

the use of hindsight;

•

short-term lease accounting policy election allowing lessees to not recognize right-of-use assets and liabilities for leases with a term of 12 months or less and to recognize lease payments on a straight-line basis over the lease term and variable payments in the period the obligation is incurred; and

•

the option not to separate lease and non-lease components for the transportation equipment asset class.

UNIFI routinely leases sales and administrative office space, warehousing and distribution centers, manufacturing space, transportation equipment, manufacturing equipment, and other information technology and office equipment from third parties. The lease terms range from 1 to 15 years with various options for renewal. There are no residual value guarantees, restrictions, covenants, or sub-leases related to these leases. Variable lease payments are determined as the amounts included in the lease payment that are based on the change in index or usage. UNIFI’s accounting for finance leases remained substantially unchanged. Disclosures related to the amount, timing and uncertainty of cash flows arising from leases are included below.

The following table sets forth the balance sheet location and values of the Company’s lease assets and lease liabilities:

Classification	Balance Sheet Location	July 3, 2022		June 27, 2021
Lease Assets
Operating lease assets	Operating lease assets	$	8,829	$	8,772
Finance lease assets	Property, plant & equipment, net		7,017		16,037
Total lease assets		$	15,846	$	24,809

Lease Liabilities
Current operating lease liabilities	Current operating lease liabilities	$	2,190	$	1,856
Current finance lease liabilities	Current portion of long-term debt		1,726		3,545
Total current lease liabilities		$	3,916	$	5,401

Non-current operating lease liabilities	Non-current operating lease liabilities	$	6,736	$	7,032
Non-current finance lease liabilities	Long-term debt		5,535		4,930
Total non-current lease liabilities		$	12,271	$	11,962

Total lease liabilities		$	16,187	$	17,363

The following table sets forth the components of UNIFI’s total lease cost for fiscal 2022 and 2021:

	For The Fiscal Year		For The Fiscal Year
Lease Cost	July 3, 2022		June 27, 2021
Operating lease cost	$	2,766	$	2,465
Variable lease cost		502		503
Finance lease cost:
Amortization of lease assets		1,981		1,998
Interest on lease liabilities		258		365
Short-term lease cost		967		1,007
Total lease cost	$	6,474	$	6,338

As of July 3, 2022 and June 27, 2021, Unifi had not received any COVID-19 rent concessions.

The following table presents supplemental information related to leases:

	For The Fiscal Year		For The Fiscal Year
Other Information	July 3, 2022		June 27, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used by operating leases	$	2,766	$	2,465
Financing cash flows used by finance leases	$	3,707	$	3,646
Non-cash activities:
Leased assets obtained in exchange for new operating lease liabilities	$	1,662	$	2,606
Leased assets obtained in exchange for new finance lease liabilities	$	2,493	$	740

UNIFI calculates its operating lease liabilities and finance lease liabilities entered into after the adoption of the new lease standard based upon UNIFI’s incremental borrowing rate (the “IBR”). When determining the IBR, we consider our centralized treasury function and our current credit profile. UNIFI makes adjustments to this rate for securitization, the length of the lease term (tenure), and leases denominated in foreign currencies. Generally, the IBR for each jurisdiction approximates the specific risk-free rate for the respective jurisdiction incremented for UNIFI’s corporate credit risk and adjusted for tenure.

The following table sets forth UNIFI's weighted average remaining lease term in years and discount rate percentage used in the calculation of its outstanding lease liabilities:

Weighted Average Remaining Lease Term and Discount Rate	July 3, 2022			June 27, 2021
Weighted average remaining lease term (years):
Operating leases		4.1			5.9
Finance leases		4.2			3.8
Weighted average discount rate (percentage):
Operating leases		5.0	%		5.1	%
Finance leases		3.6	%		3.6	%

Lease Maturity Analysis

Future minimum finance lease payments and future minimum payments under non-cancelable operating leases with initial lease terms in excess of one year under Topic 842 as of July 3, 2022 by fiscal year were:

Maturity of Lease Liabilities	Finance Leases			Operating Leases
Fiscal 2023	$	2,032		$	2,595
Fiscal 2024		2,032			2,004
Fiscal 2025		1,880			1,498
Fiscal 2026		1,385			1,201
Fiscal 2027		821			971
Fiscal years thereafter		100			1,788
Total minimum lease payments	$	8,250		$	10,057
Less estimated executory costs		(413	)		—
Less imputed interest		(576	)		(1,131	)
Present value of net minimum lease payments		7,261			8,926
Less current portion of lease obligations		(1,726	)		(2,190	)
Long-term portion of lease obligations	$	5,535		$	6,736

Revenue Recognition

12 Months Ended

Jul. 03, 2022

Revenue Recognition

5. Revenue Recognition

The following tables present net sales disaggregated by (i) classification of customer type and (ii) REPREVE Fiber sales:

	For the Fiscal Year Ended
	July 3, 2022		June 27, 2021		June 28, 2020
Third-party manufacturer	$	808,655	$	656,763	$	598,510
Service		7,103		10,829		7,999
Net sales	$	815,758	$	667,592	$	606,509

	For the Fiscal Year Ended
	July 3, 2022		June 27, 2021		June 28, 2020
REPREVE^® Fiber	$	293,080	$	245,832	$	186,141
All other products and services		522,678		421,760		420,368
Net sales	$	815,758	$	667,592	$	606,509

Third-Party Manufacturer

Third-party manufacturer revenue is primarily generated through sales to direct customers. Such sales represent satisfaction of UNIFI’s performance obligations required by the associated revenue contracts. Each of UNIFI’s reportable segments derives revenue from sales to third-party manufacturers.

Service Revenue

Service revenue is primarily generated, as services are rendered, through fulfillment of toll manufacturing of textile products or transportation services governed by written agreements. Such toll manufacturing and transportation services represent satisfaction of UNIFI’s performance obligations required by the associated revenue contracts.

REPREVE Fiber

REPREVE Fiber represents our collection of fiber products on our recycled platform, with or without added technologies.

Variable Consideration

For all variable consideration, where appropriate, UNIFI estimates the amount using the expected value method, which takes into consideration historical experience, current contractual requirements, specific known market events and forecasted customer buying and payment patterns. Overall, these reserves reflect UNIFI’s best estimates of the amount of consideration to which the customer is entitled based on the terms of the contracts. Variable consideration has been immaterial to UNIFI’s financial statements for all years presented.

Volume-based incentives

Volume-based incentives involve rebates or refunds of cash that are redeemable if the customer satisfies certain order volume thresholds during a defined time period. Under these incentive programs, UNIFI estimates the anticipated rebate to be paid and allocates a portion of the estimated cost of the rebate to each underlying sales transaction with the customer.

Product claims

UNIFI generally offers customers claims support or remuneration for defective products. UNIFI estimates the amount of its product sales that may be claimed as defective by its customers and records this estimate as a reduction of revenue in the period the related product revenue is recognized.

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 10
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Section 50
-Paragraph 13
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Section 50
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Property Plant And Equipment [Abstract]

Receivables, Net

12 Months Ended

Jul. 03, 2022

Receivables [Abstract]

Receivables, Net

6. Receivables, Net

Receivables, net consists of the following:

	July 3, 2022			June 27, 2021
Customer receivables	$	99,963		$	81,921
Allowance for uncollectible accounts		(1,498	)		(2,525	)
Reserves for quality claims		(860	)		(703	)
Net customer receivables		97,605			78,693
Other receivables		8,960			16,144
Total receivables, net	$	106,565		$	94,837

Other receivables includes $7,849 and $13,391 of banker’s acceptance notes (“BANs”) as of July 3, 2022 and June 27, 2021, respectively, in connection with the settlement of certain customer receivables generated from trade activity in the Asia Segment. The BANs are redeemable upon maturity from the drawing financial institutions, or earlier at a discount.

The changes in UNIFI’s allowance for uncollectible accounts and reserves for quality claims were as follows:

	Allowance for Uncollectible Accounts			Reserves for Quality Claims
Balance at June 30, 2019	$	(2,338	)	$	(961	)
Charged to costs and expenses		(1,739	)		(1,251	)
Translation activity		186			10
Deductions		95			1,274
Balance at June 28, 2020	$	(3,796	)	$	(928	)
Credited (charged) to costs and expenses		1,316			(1,085	)
Translation activity		(89	)		(36	)
Deductions		44			1,346
Balance at June 27, 2021	$	(2,525	)	$	(703	)
Credited (charged) to costs and expenses		445			(1,065	)
Translation activity		40			12
Deductions		542			896
Balance at July 3, 2022	$	(1,498	)	$	(860	)

Amounts credited (charged) to costs and expenses for the allowance for uncollectible accounts are reflected in the (benefit) provision for bad debts and deductions represent amounts written off which were deemed to not be collectible, net of any recoveries. Amounts charged to costs and expenses for the reserves for quality claims are primarily reflected as a reduction of net sales and deductions represent adjustments to either increase or decrease claims based on negotiated amounts or actual versus estimated claim differences.

Inventories

12 Months Ended

Jul. 03, 2022

Inventory Disclosure [Abstract]

Inventories

7. Inventories

Inventories consists of the following:

	July 3, 2022			June 27, 2021
Raw materials	$	69,994		$	54,895
Supplies		11,953			10,692
Work in process		10,358			7,516
Finished goods		84,477			70,525
Gross inventories		176,782			143,628
Net realizable value adjustment		(3,487	)		(2,407	)
Total inventories	$	173,295		$	141,221

The cost for the majority of UNIFI’s inventories is determined using the first-in, first-out method. Certain foreign inventories and limited categories of supplies of $53,793 and $58,468 as of July 3, 2022 and June 27, 2021, respectively, were valued under the average cost method.

Other Current Assets

12 Months Ended

Jul. 03, 2022

Other Assets Current [Abstract]

Other Current Assets

8. Other Current Assets

Other current assets consists of the following:

	July 3, 2022		June 27, 2021
Vendor deposits	$	6,910	$	3,341
Recovery of non-income taxes, net		6,770		3,456
Prepaid expenses and other		3,004		2,753
Value-added taxes receivable		1,987		2,484
Contract assets		285		330
Total other current assets	$	18,956	$	12,364

Vendor deposits primarily relates to down payments made toward the purchase of inventory. Recovery of non-income taxes, net relates to favorable litigation results for UNIFI’s Brazilian operations in fiscal 2021, generating overpayments that resulted from excess social program taxes paid in prior fiscal years, as further described below. Prepaid expenses consists of advance payments for routine operating expenses. Value-added taxes receivable relates to recoverable taxes associated with the sales and purchase activities of UNIFI’s foreign operations. Contract assets represents the estimated revenue attributable to UNIFI in connection with completed performance obligations under contracts with customers for which revenue is recognized over time. The contract assets are classified to receivables when the right to payment becomes unconditional.

Recovery of Non-Income Taxes, Net

Brazilian companies are subject to various taxes on business operations, including turnover taxes used to fund social security and unemployment programs, commonly referred to as PIS/COFINS taxes. UNIFI, along with numerous other companies in Brazil, challenged the constitutionality of certain state taxes historically included in the PIS/COFINS tax base.

On May 13, 2021, Brazil’s Supreme Federal Court (“SFC”) ruled in favor of taxpayers, and on July 7, 2021, the Brazilian Internal Revenue Service withdrew its existing appeal. Following the SFC decision, the federal government will not issue refunds for these taxes but will instead allow for the overpayments and associated interest to be applied as credits against future PIS/COFINS tax obligations.

There are no limitations or restrictions on UNIFI’s ability to recover the associated overpayment claims as future income is generated. In fiscal 2021, UNIFI recorded $11,519 to reflect the current and non-current recovery of PIS/COFINS taxes and associated interest, with $942 of recoveries relating to fiscal 2021 included within net sales and $10,577 of recoveries relating to fiscal years prior to 2021, which is reduced by fees related to the recovery efforts to comprise $9,717 for recovery of non-income taxes. During fiscal 2022, UNIFI (i) reduced the estimated recovery by $815, based on additional clarity and review of the recovery process during the months following the associated SFC decision and (ii) updated the expected duration of claim recovery to the 12-month period following March 27, 2022. The remaining recovery amount was reclassed to current assets accordingly, with no amounts reflected in other non-current assets at July 3, 2022.

Property, Plant and Equipment, Net

12 Months Ended

Jul. 03, 2022

Property, Plant and Equipment, Net

9. Property, Plant and Equipment, Net

PP&E, net consists of the following:

	July 3, 2022			June 27, 2021
Land	$	3,160		$	3,184
Land improvements		16,443			16,372
Buildings and improvements		164,252			160,122
Assets under finance leases		10,921			22,000
Machinery and equipment		635,699			609,414
Computers, software and office equipment		25,348			24,848
Transportation equipment		10,591			10,461
Construction in progress		20,397			17,834
Gross PP&E		886,811			864,235
Less: accumulated depreciation		(666,569	)		(656,576	)
Less: accumulated amortization – finance leases		(3,904	)		(5,963	)
Total PP&E, net	$	216,338		$	201,696

Assets under finance leases consists of the following:

	July 3, 2022		June 27, 2021
Transportation equipment	$	8,276	$	8,276
Machinery and equipment		2,645		9,897
Building improvements		—		3,827
Gross assets under finance leases	$	10,921	$	22,000

Depreciation and amortization expense and repair and maintenance expenses were as follows:

	For the Fiscal Year Ended
	July 3, 2022		June 27, 2021		June 28, 2020
Depreciation and amortization expense	$	24,509	$	24,215	$	22,551
Repair and maintenance expenses		20,076		18,118		18,093

Other Non-Current Assets

12 Months Ended

Jul. 03, 2022

Other Assets Noncurrent Disclosure [Abstract]

Other Non-Current Assets

10. Other Non-Current Assets

Other non-current assets consists of the following:

	July 3, 2022		June 27, 2021
Intangible assets, net	$	2,500	$	3,978
Grantor trust		2,196		—
Investments in unconsolidated affiliates		2,072		2,159
Recovery of non-income taxes, net		—		8,063
Other		2,020		425
Total other non-current assets	$	8,788	$	14,625

Grantor Trust

During fiscal 2022, UNIFI established a grantor (or “rabbi”) trust to facilitate the payment of obligations under the Unifi, Inc. Deferred Compensation Plan (the “DCP”), which was also established in fiscal 2022. In addition to providing certain key employees with the ability to defer earned cash incentive compensation into the DCP, participants can generally choose the form and timing of deferred amounts. The DCP assumed the participants, obligations, and major terms of the Unifi, Inc. Supplemental Key Employee Retirement Plan (together with amendments, the “SERP”), an unfunded plan established in 2006 for purposes of generating supplemental retirement income for key employees of UNIFI. The amounts credited to participant accounts are reflected in selling, general, and administrative expenses. The assets of the trust are subject to the claims of UNIFI’s creditors in the event of insolvency. Investments held for the DCP consist of mutual funds and are recorded based on market values. A change in the value of the trust assets would substantially be offset by a change in the liability to the participants, resulting in an immaterial net impact on our consolidated financial statements.

The fair value of the investment assets held by the trust were approximately $2,196 and $0 as of July 3, 2022 and June 27, 2021, respectively, and are classified as trading securities within Other non-current assets. Trading gains and losses associated with these investments are recorded to Other operating expense, net. The associated DCP liability is recorded within Other current liabilities and Other long-term liabilities based on expected payment timing, and any increase or decrease in the liability is reflected as compensation in Selling, general and administrative expenses. During fiscal 2022, we recorded losses on investments held by the trust of $48.

Recovery of Non-Income Taxes, Net

As previously described in Note 8, “Other Current Assets,” UNIFI recorded a recovery of non-income taxes and reflected current and non-current assets accordingly.

Intangible Assets

Intangible assets, net consists of the following:

	July 3, 2022			June 27, 2021
Customer lists	$	5,220		$	5,220
Non-compete agreement		1,875			1,875
Trademarks		104			411
Total intangible assets, gross		7,199			7,506

Accumulated amortization – customer lists		(3,056	)		(2,049	)
Accumulated amortization – non-compete agreement		(1,563	)		(1,188	)
Accumulated amortization – trademarks		(80	)		(291	)
Total accumulated amortization		(4,699	)		(3,528	)
Total intangible assets, net	$	2,500		$	3,978

UNIFI capitalizes costs incurred to register trademarks primarily for REPREVE in various countries. UNIFI has determined that these trademarks have varying useful lives of up to three years and are being amortized using the straight-line method.

Amortization expense for intangible assets consists of the following:

	For the Fiscal Year Ended
	July 3, 2022		June 27, 2021		June 28, 2020
Customer lists	$	1,007	$	556	$	326
Non-compete agreement		375		375		375
Trademarks		96		147		154
Total amortization expense	$	1,478	$	1,078	$	855

The following table presents the expected intangible asset amortization for the next five fiscal years:

		Fiscal 2023				Fiscal 2024				Fiscal 2025				Fiscal 2026				Fiscal 2027				Thereafter
Expected amortization		$	1,291			$	528			$	108			$	108			$	108			$	357

Investments in Unconsolidated Affiliates

U.N.F. Industries, Ltd.

In September 2000, UNIFI and Nilit Ltd. (“Nilit”) formed a 50/50 joint venture, U.N.F. Industries Ltd. (“UNF”), for the purpose of operating nylon extrusion assets to manufacture nylon POY. Raw material and production services for UNF are provided by Nilit under separate supply and services agreements. UNF’s fiscal year end is December 31 and it is a registered Israeli private company located in Migdal Ha-Emek, Israel.

UNF America, LLC

In October 2009, UNIFI and Nilit America Inc. (“Nilit America”) formed a 50/50 joint venture, UNF America LLC (“UNFA”), for the purpose of operating a nylon extrusion facility which manufactures nylon POY. Raw material and production services for UNFA are provided by Nilit America under separate supply and services agreements. UNFA’s fiscal year end is December 31 and it is a limited liability company located in Ridgeway, Virginia. UNFA is treated as a partnership for its income tax reporting.

In conjunction with the formation of UNFA, UNIFI entered into a supply agreement with UNF and UNFA (collectively, “UNFs”) whereby UNIFI agreed to purchase all of its first quality nylon POY requirements for texturing (subject to certain exceptions) from either UNF or UNFA. The agreement has no stated minimum purchase quantities, and pricing is negotiated every six months based on market rates. As of July 3, 2022, UNIFI’s open purchase orders related to this agreement were $896.

UNIFI’s raw material purchases under this supply agreement consist of the following:

	For the Fiscal Year Ended
	July 3, 2022		June 27, 2021		June 28, 2020
UNFA	$	29,637	$	18,932	$	14,583
UNF		1,175		548		1,450
Total	$	30,812	$	19,480	$	16,033

As of July 3, 2022 and June 27, 2021, UNIFI had combined accounts payable due to UNF and UNFA of $5,565 and $2,955, respectively.

UNIFI has determined that UNF and UNFA are variable interest entities and has also determined that UNIFI is the primary beneficiary of these entities, based on the terms of the supply agreement. As a result, these entities should be consolidated with UNIFI’s financial results. As (i) UNIFI purchases substantially all of the output from the two entities so all intercompany sales would be eliminated in consolidation, (ii) the two entities’ balance sheets constitute 3% or less of UNIFI’s current assets and total assets, and (iii) such balances are not expected to comprise a larger portion in the future, UNIFI has not included the accounts of UNF and UNFA in its consolidated financial statements and instead is accounting for these entities as equity investments. As of July 3, 2022, UNIFI’s combined investments in UNF and UNFA were $2,072. The financial results of UNF and UNFA are included in UNIFI’s consolidated financial statements with a one-month lag, using the equity method of accounting and with intercompany profits eliminated in accordance with UNIFI’s accounting policy. Other than the supply agreement discussed above, UNIFI does not provide any other commitments or guarantees related to either UNF or UNFA.

Parkdale America, LLC

In June 1997, UNIFI and Parkdale Mills, Inc. (“Mills”) entered into a Contribution Agreement that set forth the terms and conditions by which the two companies contributed all of the assets of their spun cotton yarn operations utilizing open-end and air-jet spinning technologies to create PAL, a producer of yarns for sale to the global textile industry and apparel market. In exchange for its contribution, UNIFI received a 34% equity ownership interest in the PAL Investment, accounted for using the equity method of accounting. Effective January 1, 2012, Mills’ interest in PAL was assigned to Parkdale.

During March 2020, UNIFI commenced negotiations to sell the PAL Investment to Parkdale. Such negotiations indicated that the fair value of the PAL Investment was less than UNIFI’s carrying value, and UNIFI no longer intended to hold the PAL Investment to allow recovery of the carrying value. UNIFI recorded an other-than-temporary impairment of $45,194 to adjust the PAL Investment to fair value. In April 2020, UNIFI and Parkdale finalized negotiations to sell UNIFI’s PAL Investment to Parkdale for $60,000. The transaction closed on April 29, 2020, and UNIFI received $60,000 in cash.

During UNIFI’s period of ownership, PAL was a limited liability company treated as a partnership for income tax reporting purposes. Per PAL’s fiscal 2020 unaudited financial statements, PAL had 10 manufacturing facilities located primarily in the southeast region of the U.S. and in Mexico, and PAL’s five largest customers accounted for approximately 69% of total revenues and 68% of total gross accounts receivable outstanding.

Condensed balance sheet and income statement information for UNFs (including reciprocal balances) is presented in the following tables. Fiscal 2020 PAL Investment income statement activity is reported for the ten months of fiscal 2020 ownership ending April 29, 2020.

	July 3, 2022		June 27, 2021
Current assets	$	10,705	$	7,931
Non-current assets		605		659
Current liabilities		8,056		3,967
Non-current liabilities		—		—
Shareholders’ equity and capital accounts		3,254		4,623

UNIFI’s portion of undistributed earnings		2,013		2,100

	July 3, 2022		June 27, 2021
Net sales	$	31,745	$	19,649
Gross profit		1,928		3,423
Income from operations		148		1,777
Net income		127		1,782
Depreciation and amortization		121		151

Distributions received		750		750

	For the Fiscal Year Ended June 28, 2020
	PAL			UNFs		Total
Net sales	$	544,006		$	17,068	$	561,074
Gross profit		7,592			2,056		9,648
(Loss) income from operations		(7,484	)		410		(7,074	)
Net (loss) income		(2,823	)		497		(2,326	)
Depreciation and amortization		33,455			135		33,590

Cash received by PAL under cotton rebate program		11,186			—		11,186
Earnings recognized by PAL for cotton rebate program		9,697			—		9,697

Distributions received		10,437			—		10,437

Other Current Liabilities

12 Months Ended

Jul. 03, 2022

Other Liabilities Current [Abstract]

Other Current Liabilities

11. Other Current Liabilities

Other current liabilities consists of the following:

	July 3, 2022		June 27, 2021
Payroll and fringe benefits	$	9,414	$	10,204
Incentive compensation		3,916		12,356
Utilities		2,287		2,347
Deferred revenue		1,694		2,691
Interest rate swaps		—		1,234
Property taxes and other		2,495		2,806
Total other current liabilities	$	19,806	$	31,638

13. Other Long-Term Liabilities

Other long-term liabilities consists of the following:

	July 3, 2022		June 27, 2021
Nonqualified deferred compensation plan obligation	$	1,982	$	2,090
Uncertain tax positions		1,575		3,045
Other		892		2,337
Total other long-term liabilities	$	4,449	$	7,472

As further described in Note 10, “Other Non-Current Assets,” UNIFI maintains a nonqualified deferred compensation plan for certain key employees and reflects a long-term obligation for amounts due beyond twelve months.

Other primarily includes certain retiree and post-employment medical and disability liabilities.

Long-Term Debt

12 Months Ended

Jul. 03, 2022

Debt Disclosure [Abstract]

Long-Term Debt

12. Long-Term Debt

Debt Obligations

The following table presents the total balances outstanding for UNIFI’s debt obligations, their scheduled maturity dates and the weighted average interest rates for borrowings as well as the applicable current portion of long-term debt:

		Weighted Average
	Scheduled	Interest Rate as of	Principal Amounts as of
	Maturity Date	July 3, 2022	July 3, 2022			June 27, 2021
ABL Revolver	December 2023	3.2%	$	41,300		$	—
ABL Term Loan	December 2023	3.2%		65,000			77,500
Finance lease obligations	(1)	3.6%		7,261			8,475
Construction financing	(2)	1.9%		729			882
Total debt				114,290			86,857
Current ABL Term Loan				(10,000	)		(12,500	)
Current portion of finance lease obligations				(1,726	)		(3,545	)
Unamortized debt issuance costs				(255	)		(476	)
Total long-term debt			$	102,309		$	70,336

(1)	Scheduled maturity dates for finance lease obligations range from March 2025 to November 2027.

(2)	Refer to the discussion below under the subheading “Construction Financing” for further information.

ABL Facility

On December 18, 2018, Unifi, Inc. and certain of its subsidiaries entered into a Third Amendment to Amended and Restated Credit Agreement and Second Amendment to Amended and Restated Guaranty and Security Agreement (the “2018 Amendment”). The 2018 Amendment amended the Amended and Restated Credit Agreement, dated as of March 26, 2015, by and among Unifi, Inc. and a syndicate of lenders, as previously amended (together with all previous and subsequent amendments, the “Credit Agreement”). The Credit Agreement provides for a $200,000 senior secured credit facility (the “ABL Facility”), including a $100,000 revolving credit facility (the “ABL Revolver”) and a term loan that can be reset up to a maximum amount of $100,000, once per fiscal year, if certain conditions are met (the “ABL Term Loan”). The ABL Facility has a maturity date of December 18, 2023.

The 2018 Amendment made the following changes to the Credit Agreement, among others: (i) extended the maturity date from March 26, 2020 to December 18, 2023 and (ii) decreased the Applicable Margin (as defined in the Credit Agreement) pricing structure for Base Rate Loans (as defined in the Credit Agreement) and LIBOR Rate Loans (as defined in the Credit Agreement) by 25 basis points.

In connection and concurrent with the sale of UNIFI’s 34% interest in PAL on April 29, 2020, UNIFI entered into the Fourth Amendment to Amended and Restated Credit Agreement (“Fourth Amendment”). The Fourth Amendment, among other things, revised the: (i) definition of permitted dispositions within the Credit Agreement to include the sale by Unifi Manufacturing, Inc. of its equity interest in PAL so long as the aggregate net cash proceeds received equaled or exceeded $60,000 and such sale occurred on or before May 15, 2020; (ii) terms of the Credit Agreement to allow the net cash proceeds from the sale of PAL to be applied to the outstanding principal amount of the ABL Revolver until paid in full with the remaining net cash proceeds retained by UNIFI, so long as certain conditions were met; and (iii) terms of the Credit Agreement to allow the lenders to make changes to the benchmark interest rate without further amendment should LIBOR temporarily or permanently cease to exist and a transition to a new benchmark interest rate such as the Secured Overnight Financing Rate (“SOFR”) be required for future ABL Facility borrowings. The Fourth Amendment generated no change in cash flows for the Credit Agreement and, accordingly, followed debt modification accounting.

On February 5, 2021, UNIFI entered into the Fifth Amendment to Amended and Restated Agreement (“Fifth Amendment”). The Fifth Amendment primarily allowed for share repurchases of up to $5,000 to be completed from available domestic cash, through June 30, 2021. No such share repurchases were made.

The ABL Facility is secured by a first-priority perfected security interest in substantially all owned property and assets (together with all proceeds and products) of Unifi, Inc., Unifi Manufacturing, Inc., and a certain subsidiary guarantor (collectively, the “Loan Parties”). It is also secured by a first-priority security interest in all (or 65% in the case of UNIFI’s first-tier controlled foreign subsidiary, as required by the lenders) of the stock of (or other ownership interests in) each of the Loan Parties (other than Unifi, Inc.) and certain subsidiaries of the Loan Parties, together with all proceeds and products thereof.

If excess availability under the ABL Revolver falls below the Trigger Level (as defined in the Credit Agreement), a financial covenant requiring the Loan Parties to maintain a fixed charge coverage ratio on a quarterly basis of at least 1.05 to 1.00 becomes effective. The Trigger Level as of July 3, 2022 was $20,625. In addition, the ABL Facility contains restrictions on particular payments and investments, including certain restrictions on the payment of dividends and share repurchases. Subject to specific provisions, the ABL Term Loan may be prepaid at par, in whole or in part, at any time before the maturity date, at UNIFI’s discretion.

ABL Facility borrowings bear interest at LIBOR plus an applicable margin of 1.25% to 1.75%, or the Base Rate (as defined below) plus an applicable margin of 0.25% to 0.75%, with interest currently being paid on a monthly basis. The applicable margin is based on (i) the excess availability under the ABL Revolver and (ii) the consolidated leverage ratio, calculated as of the end of each fiscal quarter. The Base Rate means the greater of (i) the prime lending rate as publicly announced from time to time by Wells Fargo Bank, National Association, (ii) the Federal Funds Rate (as defined in the Credit Agreement) plus 0.5%, and (iii) LIBOR plus 1.0%. UNIFI’s ability to borrow under the ABL Revolver is limited to a borrowing base equal to specified percentages of eligible accounts receivable and inventories and is subject to certain conditions and limitations. There is also a monthly unused line fee under the ABL Revolver of 0.25%.

In 2017, UNIFI entered into three interest rate swaps with Wells Fargo Bank, N.A., with notional amounts of $20,000 (“Swap A”), $30,000 (“Swap B”) and $25,000 (“Swap C”), respectively. The combined designated hedges fixed LIBOR at approximately 1.9% for $75,000 of variable rate borrowings through May 24, 2022. Such swaps terminated in May 2022 and there were no material fair value or hedging impacts.

As of July 3, 2022: UNIFI had $0 of standby letters of credit; excess availability under the ABL Revolver was $51,409; and the fixed charge coverage ratio was (0.24) to 1.00.

Finance Lease Obligations

During fiscal 2022, UNIFI entered into finance lease obligations totaling $2,493 for eAFK Evo texturing machines. The maturity dates of these obligations occur during fiscal 2027 with interest rates between 3.0% and 4.4%.

During fiscal 2021, UNIFI entered into finance lease obligations totaling $740 for certain transportation equipment. The maturity date of these obligations is June 2025 with an interest rate of 3.8%.

During fiscal 2020, UNIFI entered into finance lease obligations totaling $6,301 for certain transportation equipment. The maturity date of these obligations range from March 2025 to November 2026 with interest rates ranging from 3.1% to 3.5%.

Construction Financing

In May 2021, UNIFI entered into an agreement with a third party lender that provides for construction-period financing for certain texturing machinery included in our capital allocation plans. UNIFI records project costs to construction in progress and the corresponding liability to construction financing (within long-term debt). The agreement provides for monthly, interest-only payments during the construction period, at a rate of SOFR plus 1.25%, and contains terms customary for a financing of this type.

Each borrowing under the agreement provides for 60 monthly payments, which will commence upon the completion of the construction period with an interest rate of approximately 4.4%. In connection with this construction financing arrangement, UNIFI has borrowed a total of $3,222 and transitioned $2,493 of completed asset costs to finance lease obligations as of July 3, 2022.

Scheduled Debt Maturities

The following table presents the scheduled maturities of UNIFI’s outstanding debt obligations for the following five fiscal years and thereafter.

	Fiscal 2023		Fiscal 2024		Fiscal 2025		Fiscal 2026		Fiscal 2027		Thereafter
ABL Revolver	$	—	$	41,300	$	—	$	—	$	—	$	—
ABL Term Loan		10,000		55,000		—		—		—		—
Finance lease obligations		1,726		1,787		1,699		1,255		732		62
Total ⁽¹⁾	$	11,726	$	98,087	$	1,699	$	1,255	$	732	$	62

(1)

Total reported excludes $729 for construction financing, described above.

Other Long-Term Liabilities

12 Months Ended

Jul. 03, 2022

Other Liabilities Disclosure [Abstract]

Other Current Liabilities

11. Other Current Liabilities

Other current liabilities consists of the following:

	July 3, 2022		June 27, 2021
Payroll and fringe benefits	$	9,414	$	10,204
Incentive compensation		3,916		12,356
Utilities		2,287		2,347
Deferred revenue		1,694		2,691
Interest rate swaps		—		1,234
Property taxes and other		2,495		2,806
Total other current liabilities	$	19,806	$	31,638

13. Other Long-Term Liabilities

Other long-term liabilities consists of the following:

	July 3, 2022		June 27, 2021
Nonqualified deferred compensation plan obligation	$	1,982	$	2,090
Uncertain tax positions		1,575		3,045
Other		892		2,337
Total other long-term liabilities	$	4,449	$	7,472

Other primarily includes certain retiree and post-employment medical and disability liabilities.

Income Taxes

12 Months Ended

Jul. 03, 2022

Income Tax Disclosure [Abstract]

Income Taxes

14. Income Taxes

Components of Income (Loss) Before Income Taxes

The components of income (loss) before income taxes consist of the following:

	For the Fiscal Year Ended
	July 3, 2022			June 27, 2021			June 28, 2020
U.S.	$	(18,364	)	$	(12,463	)	$	(74,905	)
Foreign		45,192			58,810			18,640
Income (loss) before income taxes	$	26,828		$	46,347		$	(56,265	)

Components of Provision for Income Taxes

Provision for income taxes consists of the following:

	For the Fiscal Year Ended
	July 3, 2022			June 27, 2021			June 28, 2020
Current:
Federal	$	(1,163	)	$	(577	)	$	282
State		2			25			(118	)
Foreign		15,935			12,739			4,819
Total current tax expense		14,774			12,187			4,983
Deferred:
Federal		(630	)		(1,564	)		(3,783	)
State		33			131			116
Foreign		(2,520	)		6,520			(344	)
Total deferred tax expense		(3,117	)		5,087			(4,011	)
Provision for income taxes	$	11,657		$	17,274		$	972

On December 22, 2017, the U.S. government enacted comprehensive tax legislation H.R. 1, formerly known as the Tax Cuts and Jobs Act. The Global Intangible Low-Taxed Income (“GILTI”) provisions included in H.R. 1 require that certain income earned by foreign subsidiaries must be currently included in the gross income of the U.S. shareholder. UNIFI has elected to recognize GILTI as a current-period expense. Under this policy, UNIFI has not provided deferred taxes related to temporary differences that, upon their reversal, will affect the amount of income subject to GILTI in the period.

On July 20, 2020, the U.S. Treasury issued and enacted final regulations related to GILTI that allow certain U.S. taxpayers to elect to exclude foreign income that is subject to a high effective tax rate from their GILTI inclusions. The GILTI high-tax exclusion is an annual election and is retroactively available for tax years beginning after December 31, 2017. Fiscal 2021 includes a tax benefit of $4,816 related to the retroactive election.

Utilization of Net Operating Loss Carryforwards

Domestic deferred tax expense includes the utilization of federal net operating loss (“NOL”) carryforwards of $110, $5,312 and $89 for fiscal 2022, 2021, and 2020, respectively. Foreign deferred tax expense includes the utilization of NOL carryforwards of $32, $441, and $702 for fiscal 2022, 2021, and 2020, respectively. State deferred tax expense includes the utilization of NOL carryforwards of $25, $167, and $20 for fiscal 2022, 2021, and 2020, respectively.

Effective Tax Rate

Reconciliation from the federal statutory tax rate to the effective tax rate is as follows:

	For the Fiscal Year Ended
	July 3, 2022			June 27, 2021			June 28, 2020
Federal statutory tax rate		21.0	%		21.0	%		21.0	%
Change in valuation allowance		12.6			5.0			0.6
Foreign income taxed at different rates		10.7			9.0			(1.2	)
Tax expense on unremitted foreign earnings		5.5			7.0			(0.9	)
Repatriation of foreign earnings and withholding taxes		3.9			1.8			(2.0	)
Change in uncertain tax positions		2.4			0.5			(0.3	)
Nondeductible compensation		2.1			1.4			(0.8	)
U.S. tax on GILTI		0.2			3.9			(5.0	)
Nontaxable income		(10.2	)		(2.4	)		1.1
Research and other business credits		(4.0	)		(3.7	)		2.0
State income taxes, net of federal tax benefit		(1.3	)		(0.2	)		2.6
Foreign tax credits		(0.5	)		(5.4	)		0.9
Deemed repatriation of foreign earnings under Subpart F		—			1.5			—
Domestic production activities deduction		—			0.6			—
Rate benefit of U.S. federal NOL carryback		—			(2.8	)		—
Valuation allowance related to loss on sale of investment in PAL		—			—			(19.3	)
Nondeductible expenses and other		1.1			0.1			(0.4	)
Effective tax rate		43.5	%		37.3	%		(1.7	)%

Deferred Income Taxes

The significant components of UNIFI’s deferred tax assets and liabilities consist of the following:

	July 3, 2022			June 27, 2021
Deferred tax assets:
Capital loss carryforwards	$	16,318		$	17,429
Tax credits		12,079			18,711
Research and development costs		7,409			6,934
NOL carryforwards		6,603			3,043
Accrued compensation		2,106			4,056
Other items		4,877			4,815
Total gross deferred tax assets		49,392			54,988
Valuation allowance		(31,667	)		(36,980	)
Net deferred tax assets		17,725			18,008
Deferred tax liabilities:
PP&E		(14,952	)		(16,045	)
Unremitted earnings		(5,253	)		(3,769	)
Recovery of non-income taxes		132			(3,664	)
Other		(138	)		(8	)
Total deferred tax liabilities		(20,211	)		(23,486	)
Net deferred tax liabilities	$	(2,486	)	$	(5,478	)

Deferred Income Taxes – Valuation Allowance

In assessing its ability to realize deferred tax assets, UNIFI considers whether it is more-likely-than-not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. UNIFI considers the scheduled reversal of taxable temporary differences, taxable income in carryback years, cumulative losses in recent years, projected future taxable income, and tax planning strategies in making this assessment. Since UNIFI operates in multiple jurisdictions, the assessment is made on a jurisdiction-by-jurisdiction basis, taking into account the effects of local tax law. Based on consideration of these items, management has determined that enough uncertainty exists relative to the realization of its deferred income tax asset balances to warrant the application of a full valuation allowance against the deferred tax assets of its U.S. consolidated group and certain foreign subsidiaries as of July 3, 2022.

Components of UNIFI’s deferred tax valuation allowance are as follows:

	For the Fiscal Year Ended
	July 3, 2022			June 27, 2021			June 28, 2020
Capital loss carryforwards	$	(16,318	)	$	(17,429	)	$	(13,791	)
Tax credits		(10,779	)		(17,215	)		(17,111	)
NOL carryforwards		(4,570	)		(2,336	)		(2,542	)
Investments, including unconsolidated affiliates		—			—			(3,995	)
Total deferred tax valuation allowance	$	(31,667	)	$	(36,980	)	$	(37,439	)

During fiscal 2022, UNIFI’s valuation allowance decreased by $5,313. The decrease was primarily driven by a decrease in the valuation allowance on foreign tax credits and capital loss carryforwards, offset by an increase in the valuation allowance on federal net operating loss and research credits carryforwards.

During fiscal 2021, UNIFI’s valuation allowance decreased by $459. The decrease was primarily driven by a decrease in the valuation allowance on investments in unconsolidated affiliates and foreign tax credits, offset by an increase in the valuation allowance on research credits and capital loss carryforwards.

During fiscal 2020, UNIFI’s valuation allowance increased by $11,419. The increase was primarily driven by an increase in the valuation allowance on a capital loss generated by the sale of UNIFI’s interest in PAL.

Unrecognized Tax Benefits

A reconciliation of beginning and ending gross amounts of unrecognized tax benefits is as follows:

	For the Fiscal Year Ended
	July 3, 2022			June 27, 2021			June 28, 2020
Balance at beginning of year	$	2,590		$	1,218		$	1,083
Gross increases (decreases) related to current period tax positions		408			(24	)		98
Gross (decreases) increases related to tax positions in prior periods		(89	)		1,396			37
Gross decreases related to settlements with tax authorities		—			—			—
Gross decreases related to lapse of applicable statute of limitations		—			—			—
Balance at end of year	$	2,909		$	2,590		$	1,218

Unrecognized tax benefits would generate a favorable impact of $4,746 on UNIFI’s effective tax rate when recognized. UNIFI does not expect material changes in uncertain tax positions within the next 12 months. Expense for interest and penalties recognized by UNIFI within the provision for income taxes was $287, $141, and $69 for fiscal 2022, 2021, and 2020, respectively. UNIFI had $559, and $273 accrued for interest and/or penalties related to uncertain tax positions as of July 3, 2022 and June 27, 2021, respectively.

Expiration of Net Operating Loss Carryforwards and Tax Credit Carryforwards

As of July 3, 2022, UNIFI had U.S. federal capital loss carryforwards of $71,105, U.S. federal NOL carryforwards of $16,731, U.S. state NOL carryforwards of $70,601 and foreign NOL carryforwards of $395. The NOL carryforwards begin expiring in varying amounts in fiscal 2023. As of July 3, 2022, UNIFI had the following carryforward attributes held outside of the U.S. consolidated tax filing group: U.S. federal NOL carryforwards of $2,340 and U.S. state NOL carryforwards of $14,421. The NOL carryforwards held outside of the U.S. consolidated tax filing group begin expiring in fiscal 2023. As of July 3, 2022, UNIFI had U.S. federal foreign tax credit carryforwards of $3,075 and foreign tax credit carryforwards in foreign jurisdictions of $3,170. The foreign tax credit carryforwards begin expiring in varying amounts in fiscal 2023. As of July 3, 2022, UNIFI had U.S. federal research tax credit carryforwards of $5,284, which begin expiring in fiscal 2039.

Tax Years Subject to Examination

Unifi, Inc. and its domestic subsidiaries file a consolidated federal income tax return, as well as income tax returns in multiple state and foreign jurisdictions. The tax years subject to examination vary by jurisdiction. UNIFI regularly assesses the outcomes of both completed and ongoing examinations to ensure that UNIFI’s provision for income taxes is sufficient.

In fiscal 2019, the Internal Revenue Service (“IRS”) initiated an audit of UNIFI’s domestic operations for fiscal years 2016 and 2017. In fiscal 2020, the IRS expanded the audit to include fiscal 2018. In fiscal 2021, the IRS expanded the audit to include fiscal 2019. Fiscal years 2009 through 2014 remain open for certain foreign tax credit amendments and net operating loss and general business credit carrybacks.

Statutes related to material foreign jurisdictions are open from January 1, 2017 and material state jurisdictions from June 30, 2019. Certain carryforward tax attributes generated in years prior remain subject to examination and could change in subsequent tax years.

Indefinite Reinvestment Assertion

UNIFI considers $26,253 of its unremitted foreign earnings to be permanently reinvested to fund working capital requirements and operations abroad and has therefore not recognized a deferred tax liability for the estimated future taxes that would be incurred upon repatriation. If these earnings were distributed in the form of dividends or otherwise, or if the shares of the relevant foreign subsidiaries were sold or otherwise transferred, UNIFI could be subject to additional tax liabilities of approximately $6,046.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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Shareholders' Equity

12 Months Ended

Jul. 03, 2022

Stockholders Equity Note [Abstract]

Shareholders' Equity

15. Shareholders’ Equity

On October 31, 2018, UNIFI announced that the Board approved a new share repurchase program (the “2018 SRP”) under which UNIFI is authorized to acquire up to $50,000 of its common stock. Under the 2018 SRP, purchases may be made from time to time in the open market at prevailing market prices, through private transactions, or via block trades. The timing and amount of repurchases will depend on market conditions, share price, applicable legal requirements, and other factors. The share repurchase authorization is discretionary and has no expiration date. Repurchases, if any, are expected to be financed through cash generated from operations and borrowings under the ABL Revolver, and are subject to applicable limitations and restrictions as set forth in the ABL Facility. UNIFI may discontinue repurchases at any time that management determines additional purchases are not beneficial or advisable.

The following table summarizes UNIFI’s repurchases and retirements of its common stock under the 2018 SRP for the fiscal periods noted:

	Total Number of Shares Repurchased as Part of Publicly Announced Plans or Programs		Average Price Paid per Share		Approximate Dollar Value that May Yet Be Repurchased Under Publicly Announced Plans or Programs
Fiscal 2019		—	$	—	$	50,000
Fiscal 2020		84	$	23.72	$	48,008
Fiscal 2021		—	$	—	$	48,008
Fiscal 2022		617	$	14.84	$	38,859
Total		701	$	15.90	$	38,859

As of July 3, 2022, $38,859 remained available for repurchase under the 2018 SRP.

Repurchased shares are retired and have the status of authorized and unissued shares. The cost of the repurchased shares is recorded as a reduction to common stock to the extent of the par value of the shares acquired and the remainder is allocated between capital in excess of par value and retained earnings, on a pro rata basis.

No dividends were paid in the three most recent fiscal years.

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock-Based Compensation

12 Months Ended

Jul. 03, 2022

Stock-Based Compensation

16. Stock-Based Compensation

On October 23, 2013, UNIFI’s shareholders approved the Unifi, Inc. 2013 Incentive Compensation Plan (the “2013 Plan”). The 2013 Plan replaced the 2008 Unifi, Inc. Long-Term Incentive Plan (the “2008 LTIP”). No additional awards can be granted under the 2008 LTIP; however, prior awards outstanding under the 2008 LTIP remain subject to that plan’s provisions. The 2013 Plan authorized the issuance of 1,000 shares of common stock, subject to certain increases in the event outstanding awards under the 2008 LTIP expired, were forfeited or otherwise terminated unexercised.

The 2013 Plan expired in accordance with its terms on October 24, 2018, and the Unifi, Inc. Amended and Restated 2013 Incentive Compensation Plan (the “Amended 2013 Plan”) became effective on that same day, upon approval by shareholders at UNIFI’s annual meeting of shareholders held on October 31, 2018. The Amended 2013 Plan increased the number of shares available for future issuance pursuant to awards granted under the Amended 2013 Plan to 1,250 and removed provisions no longer applicable due to the recent changes to Section 162(m) of the Internal Revenue Code of 1986, as amended. The material terms and provisions of the Amended 2013 Plan are otherwise similar to those of the 2013 Plan.

On October 29, 2020, UNIFI’s shareholders approved the Unifi, Inc. Second Amended and Restated 2013 Incentive Compensation Plan (the “2020 Plan”). The 2020 Plan set the number of shares available for future issuance pursuant to awards granted under the 2020 Plan to 850. No additional awards can be granted under prior plans; however, awards outstanding under a respective prior plan remain subject to that plan’s provisions.

The following table provides information as of July 3, 2022 with respect to the number of securities remaining available for future issuance under the 2020 Plan:

Authorized under the 2020 Plan	850
Plus: Awards expired, forfeited or otherwise terminated unexercised	1
Less: Awards granted to employees	(209	)
Less: Awards granted to non-employee directors	(41	)
Available for issuance under the 2020 Plan	601

Stock Options

A summary of UNIFI’s stock options granted to key employees and valued under the Black-Scholes model is as follows:

	For the Fiscal Year Ended
	July 3, 2022		June 27, 2021		June 28, 2020
Quantity		—		155		143
Service Period (years)		—		3.0		3.0
Weighted Average Exercise Price	$	—	$	15.64	$	19.95
Weighted Average Grant Date Fair Value	$	—	$	6.75	$	7.33

On May 1, 2020, excluded from the fiscal 2020 table above, UNIFI granted stock options to purchase 533 shares of its common stock to a key employee with an exercise price of $11.74 and 10-year contractual terms, as follows:

•

100 vested immediately and had a grant date fair value of $4.83 using the Black-Scholes model;

•

100 cliff-vest after three years of service and had a grant date fair value of $4.83 using the Black-Scholes model;

•

100 vest following a common stock price attainment of $40 for ten consecutive trading days and four years of service or a common stock price attainment of $50 for ten consecutive trading days after four years of service and before five years of service and had a grant date fair value of $2.70 under a Monte Carlo simulation; and

•

233 vest following a common stock price attainment of $50 for ten consecutive trading days and five years of service and had a grant date fair value of $2.33 under a Monte Carlo simulation.

The Black-Scholes model used the following weighted average assumptions for the above awards:

	For the Fiscal Year Ended
	July 3, 2022		June 27, 2021			June 28, 2020
Expected term (years)		—		5.5			5.5
Risk-free interest rate		—		0.4	%		0.7	%
Volatility		—		49.0	%		43.2	%
Dividend yield		—		—			—

UNIFI uses historical data to estimate the expected term and volatility. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of the grant for periods corresponding with the expected term of the stock options.

A summary of stock option activity for fiscal 2022 is as follows:

	Stock Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)		Aggregate Intrinsic Value
Outstanding at June 27, 2021		1,114		$	16.82
Granted		—		$	—
Exercised		(10	)	$	11.09
Cancelled or forfeited		(122	)	$	25.45
Expired		—		$	—
Outstanding at July 3, 2022		982		$	15.81		7.2	$	1,296
Vested and expected to vest as of July 3, 2022		982		$	15.81		7.2	$	1,296
Exercisable at July 3, 2022		380		$	20.15		6.1	$	285

At July 3, 2022, the remaining unrecognized compensation cost related to the unvested stock options was $904, which is expected to be recognized over a weighted average period of 1.7 years.

For fiscal 2022, 2021, and 2020, the total intrinsic value of stock options exercised was $60, $85, and $147, respectively. The amount of cash received from the exercise of stock options was $28, $0 and $29 for fiscal 2022, 2021, and 2020, respectively. The tax benefit realized from stock options exercised was $8, $11, and $20 for fiscal 2022, 2021, and 2020, respectively.

Stock Units and Share Units

During fiscal 2022, 2021, and 2020, UNIFI granted 80, 73, and 127 restricted stock units (“RSUs”), respectively, to certain key employees. The employee RSUs are subject to a vesting restriction and convey no rights of ownership in shares of Company common stock until such employee RSUs have vested and been distributed to the grantee in the form of Company common stock. The employee RSUs vest over a three-year period and will be converted into an equivalent number of shares of Company common stock (for distribution to the grantee) on each vesting date, unless the grantee has elected to defer the receipt of the shares of stock until separation from service. UNIFI estimated the weighted average fair value of each employee RSU granted during fiscal 2022, 2021, and 2020 to be $23.45, $15.65, and $19.74 respectively.

During fiscal 2022, 2021, and 2020, UNIFI granted 32 vested share units (“VSUs”), 37 RSUs, and 24 VSUs (collectively, the “units”), respectively, to UNIFI’s non-employee directors. The units became fully vested on the grant date but convey no rights of ownership in shares of Company common stock until such units have been distributed to the grantee in the form of Company common stock. If a grantee defers his or her distribution, the units are converted into an equivalent number of shares of Company common stock and distributed to the grantee following the grantee’s termination of service as a member of the Board. UNIFI estimated the fair value of each unit granted during fiscal 2022, 2021, and 2020 to be $22.03 $15.91, and $27.15, respectively.

During fiscal 2022, UNIFI granted 53 performance share units (“PSUs”) to certain key employees. The employee PSUs are subject to a performance-based vesting restriction and convey no rights of ownership in shares of Company common stock until such employee PSUs have vested and been distributed to the grantee in the form of Company common stock. Consistent with the vesting provisions of each PSU, between 50% and 200% of the PSUs become vested, if at all, on the date that the associated performance metric is achieved, and will be converted into shares of stock (for distribution to the grantee) on each vesting date, unless the grantee has elected to defer the receipt of the shares of stock until separation from service. The percentage of PSUs that vest is based on the metric achieved on the vesting date compared to the targeted metric defined in the award agreement. UNIFI estimated the weighted average fair value of each unit granted during fiscal 2022 to be $23.27. As of July 3, 2022, the 53 PSUs granted in fiscal 2022 are not expected to vest.

UNIFI estimates the fair value of RSUs, VSUs and PSUs based on the market price of UNIFI’s common stock at the award grant date.

A summary of RSU, VSU and PSU activity for fiscal 2022 is as follows:

	Non-vested			Weighted Average Grant Date Fair Value		Vested			Total			Weighted Average Grant Date Fair Value
Outstanding at June 27, 2021		162		$	16.75		241			403		$	20.82
Granted		166		$	23.12		—			166		$	23.12
Vested		(92	)	$	18.78		92			—		$	18.78
Converted		—		$	—		(88	)		(88	)	$	19.80
Cancelled or forfeited		(2	)	$	20.39		—			(2	)	$	20.39
Outstanding at July 3, 2022		234		$	20.38		245			479		$	21.80

At July 3, 2022, the number of RSUs, VSUs and PSUs vested and expected to vest was 426, with an aggregate intrinsic value of $5,972. The aggregate intrinsic value of the 245 vested RSUs, VSUs, and PSUs at July 3, 2022 was $3,434.

The unrecognized compensation cost related to the unvested RSUs and PSUs at July 3, 2022 was $1,634, which is expected to be recognized over a weighted average period of 1.6 years.

For fiscal 2022, 2021, and 2020, the total intrinsic value of RSUs, VSUs, and PSUs converted was $1,715, $1,216, and $1,708, respectively. The tax benefit realized from the conversion of RSUs was $260, $159, and $206 for fiscal 2022, 2021, and 2020, respectively.

Summary

The total cost charged against income related to all stock-based compensation arrangements was as follows:

	For the Fiscal Year Ended
	July 3, 2022		June 27, 2021		June 28, 2020
Stock options	$	928	$	1,047	$	1,265
RSUs and VSUs		2,253		2,015		2,245
Total compensation cost	$	3,181	$	3,062	$	3,510

In each of fiscal 2022, 2021, and fiscal 2020, UNIFI issued 5, 4, and 4 shares of common stock for $110, $75, and $100 of expense, respectively, in connection with Board compensation.

The total income tax benefit recognized for stock-based compensation was $386, $297, and $178 for fiscal 2022, 2021, and 2020, respectively.

As of July 3, 2022, total unrecognized compensation costs related to all unvested stock-based compensation arrangements were $2,538. The weighted average period over which these costs are expected to be recognized is 1.6 years.

Defined Contribution Plans

12 Months Ended

Jul. 03, 2022

Compensation And Retirement Disclosure [Abstract]

Defined Contribution Plans

17. Defined Contribution Plans

401(k) Plan

UNIFI matches employee contributions made to the Unifi, Inc. Retirement Savings Plan (the “401(k) Plan”), a 401(k) defined contribution plan, which covers eligible U.S. salary and hourly employees. Under the terms of the 401(k) Plan, UNIFI matches 100% of the first 3% of eligible employee contributions and 50% of the next 2% of eligible contributions.

The following table presents the employer matching contribution expense related to the 401(k) Plan:

	For the Fiscal Year Ended
	July 3, 2022		June 27, 2021		June 28, 2020
Matching contribution expense	$	3,215	$	2,578	$	2,491

Non-qualified Deferred Compensation Plan

The UNIFI, Inc. Deferred Compensation Plan (the “DCP”), established in fiscal 2022, is an unfunded non-qualified deferred compensation plan in which certain key employees are eligible to participate. Under the DCP, participants may elect to defer all or a portion of their annual cash incentive compensation to their account. The deferred amounts are paid in accordance with each participant’s elections. In addition to elective deferrals, the DCP assumed the obligations of the Unifi, Inc. Supplemental Key Employee Retirement Plan (the “SERP”), which includes amounts credited to eligible employees’ accounts based on a percentage of their annual base compensation. Amounts due within the next operating cycle are reflected in Other current liabilities and the remaining DCP obligation is reflected in Other long-term liabilities.

The total DCP obligation as of July 3, 2022 and the predecessor SERP, as of June 27, 2021, was $2,359, and $3,177, respectively.

The entire disclosure for retirement benefits.

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Fair Value of Financial Instruments and Non-Financial Assets and Liabilities

Fair Value of Financial Instruments and Non-Financial Assets and Liabilities

12 Months Ended

Jul. 03, 2022

Fair Value Disclosures [Abstract]

18. Fair Value of Financial Instruments and Non-Financial Assets and Liabilities

Financial Instruments

Grantor Trust

The fair value of the investment assets held by the grantor trust established in connection with the DCP (as previously described in the preceding Notes) were approximately $2,196 and $0 as of July 3, 2022 and June 27, 2021, respectively, and are classified as trading securities within Other non-current assets. The grantor trust assets have readily-available market values and are classified as Level 1 trading securities in the fair value hierarchy. Trading gains and losses associated with these investments are recorded to Other operating expense, net. The associated DCP liability is recorded within Other long-term liabilities, and any increase or decrease in the liability is also recorded in Other operating expense, net. During fiscal 2022, we recorded losses on investments held by the trust of $48.

Derivative Instruments

UNIFI uses derivative financial instruments such as interest rate swaps to reduce its ongoing business exposures to fluctuations in interest rates. UNIFI does not enter into derivative contracts for speculative purposes.

Interest Rate Swaps

UNIFI’s primary debt obligations utilize variable-rate LIBOR, exposing the Company to variability in interest payments due to changes in interest rates. Management enters into LIBOR-based interest rate swap agreements to manage fluctuations in cash flows resulting from changes in the benchmark LIBOR. Under the terms of the interest rate swaps, UNIFI effectively received LIBOR-based variable interest rate payments and made fixed interest rate payments, thereby fixing the variable rate cash flows on the notional amount of debt obligations.

In 2017, UNIFI entered into Swaps A, B, and C. The combined designated hedges fixed LIBOR at approximately 1.9% for $75,000 of variable rate borrowings through May 24, 2022. In accordance with hedge accounting, each swap is reflected on the accompanying consolidated balance sheets at fair value with a corresponding balance in accumulated other comprehensive loss, and impacts earnings commensurate with the forecasted transaction. The swaps terminated in May 2022 and the related impacts were insignificant.

The below table presents the fair value attributes for the historical swaps as of June 27, 2021.

As of June 27, 2021	Notional Amount			Balance Sheet Location	Fair Value Hierarchy	Fair Value
Swap A	USD	$	20,000	Other current liabilities	Level 2	$	334
Swap B	USD	$	30,000	Other current liabilities	Level 2	$	500
Swap C	USD	$	25,000	Other current liabilities	Level 2	$	400

Estimates for the fair value of UNIFI’s derivative contracts are obtained from month-end market quotes for contracts with similar terms.

Swaps A, B, and C, designated hedges, increased interest expense for fiscal 2022, 2021 and 2020 by $1,190, $1,347 and $270.

By entering into derivative contracts, UNIFI exposes itself to counterparty credit risk. UNIFI attempts to minimize this risk by selecting counterparties with investment grade credit ratings and regularly monitoring those ratings. UNIFI’s derivative instruments do not contain any credit-risk-related contingent features.

Non-Financial Assets and Liabilities

UNIFI did not have any non-financial assets or liabilities that were required to be measured at fair value on a recurring or non-recurring basis.

Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Accumulated Other Comprehensive Loss

12 Months Ended

Jul. 03, 2022

Accumulated Other Comprehensive Loss

19. Accumulated Other Comprehensive Loss

The components of and the changes in accumulated other comprehensive loss, net of tax, as applicable, consist of the following:

	Foreign Currency Translation Adjustments			Changes in Interest Rate Swaps			Accumulated Other Comprehensive Loss
Balance at June 30, 2019	$	(42,729	)	$	(500	)	$	(43,229	)
Other comprehensive loss, net of tax		(19,119	)		(1,458	)		(20,577	)
Balance at June 28, 2020	$	(61,848	)	$	(1,958	)	$	(63,806	)

Other comprehensive income, net of tax		9,368			1,006			10,374
Balance at June 27, 2021	$	(52,480	)	$	(952	)	$	(53,432	)

Other comprehensive (loss) income, net of tax		(7,125	)		952			(6,173	)
Balance at July 3, 2022	$	(59,605	)	$	—		$	(59,605	)

A summary of other comprehensive (loss) income for fiscal 2022, 2021, and 2020 is provided as follows:

	Fiscal 2022									Fiscal 2021							Fiscal 2020
	Pre-tax			Tax			After-tax			Pre-tax		Tax			After-tax		Pre-tax			Tax		After-tax
Other comprehensive (loss) income:
Foreign currency translation adjustments	$	(7,125	)	$	—		$	(7,125	)	$	9,368	$	—		$	9,368	$	(21,027	)	$	—	$	(21,027	)
Foreign currency translation adjustments for an unconsolidated affiliate		—			—			—			—		—			—		1,908			—		1,908
Changes in interest rate swaps, net of reclassification adjustments		1,234			(282	)		952			1,316		(310	)		1,006		(1,904	)		446		(1,458	)
Other comprehensive (loss) income, net	$	(5,891	)	$	(282	)	$	(6,173	)	$	10,684	$	(310	)	$	10,374	$	(21,023	)	$	446	$	(20,577	)

Computation of Earnings Per Share

12 Months Ended

Jul. 03, 2022

Earnings Per Share [Abstract]

Computation of Earnings Per Share

20. Computation of Earnings Per Share

The computation of basic and diluted earnings per share (“EPS”) is as follows:

	For the Fiscal Year Ended
	July 3, 2022		June 27, 2021		June 28, 2020
Basic EPS
Net income (loss)	$	15,171	$	29,073	$	(57,237	)
Weighted average common shares outstanding		18,429		18,472		18,475
Basic EPS	$	0.82	$	1.57	$	(3.10	)
Diluted EPS
Net income (loss)	$	15,171	$	29,073	$	(57,237	)
Weighted average common shares outstanding		18,429		18,472		18,475
Net potential common share equivalents		439		384		—
Adjusted weighted average common shares outstanding		18,868		18,856		18,475
Diluted EPS	$	0.80	$	1.54	$	(3.10	)
Excluded from the calculation of common share equivalents:
Anti-dilutive common share equivalents		225		497		401
Excluded from the calculation of diluted shares:
Unvested stock options that vest upon achievement of certain market conditions		333		333		333

The calculation of earnings per common share is based on the weighted average number of UNIFI’s common shares outstanding for the applicable period. The calculation of diluted earnings per common share presents the effect of all potential dilutive common shares that were outstanding during the respective period, unless the effect of doing so is anti-dilutive.

Other Operating (Income) Expense, Net

12 Months Ended

Jul. 03, 2022

Other Income And Expenses [Abstract]

Other Operating (Income) Expense, Net

21. Other Operating (Income) Expense, Net

Other operating (income) expense, net primarily consists of (i) gains on foreign currency transactions for fiscal 2022 and losses on foreign currency transactions for fiscal 2021, (ii) severance expenses related to former employees in fiscal 2020 and 2021, and (iii) losses from the sale or disposal of assets in fiscal 2021.

Commitments and Contingencies

12 Months Ended

Jul. 03, 2022

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

22. Commitments and Contingencies

Collective Bargaining Agreements

While employees of UNIFI’s Brazilian operations are unionized, none of the labor force employed by UNIFI’s domestic or other foreign subsidiaries is currently covered by a collective bargaining agreement.

Environmental

On September 30, 2004, Unifi Kinston, LLC (“UK”), a subsidiary of Unifi, Inc., completed its acquisition of polyester filament manufacturing assets located in Kinston, North Carolina (“Kinston”) from Invista S.a.r.l. (“INVISTA”). The land for the Kinston site was leased pursuant to a 99-year ground lease (the “Ground Lease”) with E.I. DuPont de Nemours (“DuPont”). Since 1993, DuPont has been investigating and cleaning up the Kinston site under the supervision of the U.S. Environmental Protection Agency and the North Carolina Department of Environmental Quality (“DEQ”) pursuant to the Resource Conservation and Recovery Act Corrective Action program. The program requires DuPont to identify all potential areas of environmental concern (“AOCs”), assess the extent of containment at the identified AOCs and remediate the AOCs to comply with applicable regulatory standards. Effective March 20, 2008, UK entered into a lease termination agreement associated with conveyance of certain assets at the Kinston site to DuPont. This agreement terminated the Ground Lease and relieved UK of any future responsibility for environmental remediation, other than participation with DuPont, if so called upon, with regard to UK’s period of operation of the Kinston site, which was from 2004 to 2008. At this time, UNIFI has no basis to determine if or when it will have any responsibility or obligation with respect to the AOCs or the extent of any potential liability for the same. UK continues to own property (the “Kentec site”) acquired in the 2004 transaction with INVISTA that has contamination from DuPont’s prior operations and is monitored by DEQ. The Kentec site has been remediated by DuPont, and DuPont has received authority from DEQ to discontinue further remediation, other than natural attenuation. Prior to transfer of responsibility to UK, DuPont and UK had a duty to monitor and report the environmental status of the Kentec site to DEQ. Effective April 10, 2019, UK assumed sole remediator responsibility of the Kentec site pursuant to its contractual obligations with INVISTA and received $180 of net monitoring and reporting costs due from DuPont. In connection with monitoring, UK expects to sample and report to DEQ annually. At this time, UNIFI does not expect any active site remediation will be required but expects that any costs associated with active site remediation, if ever required, would likely be immaterial.

Unconditional Obligations

UNIFI is a party to unconditional obligations for certain utility and other purchase or service commitments. These commitments are non-cancelable, have remaining terms in excess of one year and qualify as normal purchases.

On a fiscal year basis, the minimum payments expected to be made as part of such commitments are as follows:

	Fiscal 2023		Fiscal 2024		Fiscal 2025		Fiscal 2026		Fiscal 2027		Thereafter
Unconditional purchase obligations	$	6,359	$	5,238	$	5,067	$	2,445	$	2,445	$	—
Unconditional service obligations		1,911		278		269		269		307		194
Total unconditional obligations	$	8,270	$	5,516	$	5,336	$	2,714	$	2,752	$	194

For fiscal 2022, 2021 and 2020, total costs incurred under these commitments consisted of the following:

	For the Fiscal Year Ended
	July 3, 2022		June 27, 2021		June 28, 2020
Costs for unconditional purchase obligations	$	24,236	$	22,689	$	21,483
Costs for unconditional service obligations		912		967		2,082
Total	$	25,148	$	23,656	$	23,565

Related Party Transactions

12 Months Ended

Jul. 03, 2022

Related Party Transactions

23. Related Party Transactions

There were no related party receivables as of July 3, 2022 and June 27, 2021.

Mr. Kenneth G. Langone, a member of the Board, is a director, shareholder and non-executive Chairman of the Board of Salem Holding Company. UNIFI leases tractors and trailers from Salem Leasing Corporation, a wholly owned subsidiary of Salem Holding Company. In addition to the monthly lease payments, UNIFI also incurs expenses for routine repair and maintenance, fuel, and other expenses. These leases do not contain renewal options, purchase options or escalation clauses with respect to the minimum lease charges.

Related party payables for Salem Leasing Corporation consist of the following:

	July 3, 2022		June 27, 2021
Accounts payable	$	432	$	469
Operating lease obligations		811		1,133
Finance lease obligations		4,933		6,149
Total related party payables	$	6,176	$	7,751

The following are the Company’s significant related party transactions for the current and prior two fiscal years and consist of the matters in the table below:

For the Fiscal Year Ended

Affiliated Entity

Transaction Type

July 3, 2022

June 27, 2021

June 28, 2020

Salem Leasing Corporation

Payments for transportation

equipment costs and finance

lease debt service

4,343

4,122

3,798

Business Segment Information

12 Months Ended

Jul. 03, 2022

Segment Reporting [Abstract]

Business Segment Information

24. Business Segment Information

UNIFI defines operating segments as components of the organization for which discrete financial information is available and operating results are evaluated on a regular basis by UNIFI’s principal executive officer, who is the chief operating decision maker (the “CODM”), in order to assess performance and allocate resources. Characteristics of UNIFI which were relied upon in making the determination of reportable segments include the nature of the products sold, the internal organizational structure, the trade policies in the geographic regions in which UNIFI operates, and the information that is regularly reviewed by the CODM for the purpose of assessing performance and allocating resources.

In the fourth quarter of fiscal 2022, UNIFI realigned its operating and reportable segments to correspond with changes to its operating model, management structure, and organizational responsibilities, reflecting the manner in which business performance is evaluated, resources are allocated, and financial statement users can best understand the results of operations. Accordingly, UNIFI is now reporting the Americas Segment, Brazil Segment, and Asia Segment. The Americas Segment represents the combination of the previously reported Polyester Segment, Nylon Segment, and All Other category. There are no changes to the composition of the historical Brazil Segment and Asia Segment. Comparative prior period disclosures have been updated to conform to the new presentation.

UNIFI has three reportable segments.

•

The operations within the Americas Segment exhibit similar long-term economic characteristics and primarily sell into an economic trading zone covered by the USMCA and CAFTA-DR to similar customers utilizing similar methods of distribution. These operations derive revenues primarily from manufacturing synthetic and recycled textile products with sales primarily to yarn manufacturers, knitters and weavers that produce yarn and/or fabric for the apparel, hosiery, automotive, home furnishings, industrial, medical, and other end-use markets principally in North and Central America. The Americas Segment consists of sales and manufacturing operations in the U.S., El Salvador, and Colombia.

•

The Brazil Segment primarily manufactures and sells polyester-based products to knitters and weavers that produce fabric for the apparel, automotive, home furnishings, industrial, and other end-use markets principally in Brazil. The Brazil Segment includes a manufacturing location and sales offices in Brazil.

•

The operations within the Asia Segment exhibit similar long-term economic characteristics and sell to similar customers utilizing similar methods of distribution primarily in Asia and Europe. The Asia Segment primarily sources synthetic and recycled textile products from third-party suppliers and sells to other yarn manufacturers, knitters, and weavers that produce fabric for the apparel, automotive, home furnishings, industrial, and other end-use markets principally in Asia. The Asia Segment includes sales offices in China, Turkey, and Hong Kong.

UNIFI evaluates the operating performance of its segments based upon Segment Profit, which represents segment gross profit (loss) plus segment depreciation expense. This measurement of segment profit or loss best aligns segment reporting with the current assessments and evaluations performed by, and information provided to, the CODM.

The accounting policies for the segments are consistent with UNIFI’s accounting policies. Intersegment sales are omitted from segment disclosures, as they are (i) insignificant to UNIFI’s segments and eliminated from consolidated reporting and (ii) excluded from segment evaluations performed by the CODM. However, an intersegment technologies expense charged from the Americas Segment to the Asia Segment is not eliminated from segment results. The technologies expense (i) reflects the sharing of certain manufacturing know-how, processes, and product technical information and design and (ii) is included in the segment evaluations performed by the CODM.

Selected financial information is presented below:

	For the Fiscal Year Ended July 3, 2022
	Americas		Brazil		Asia		Total
Net sales	$	483,085	$	126,066	$	206,607	$	815,758
Cost of sales		458,617		98,925		177,731		735,273
Gross profit		24,468		27,141		28,876		80,485
Segment depreciation expense		21,153		1,500		—		22,653
Segment Profit	$	45,621	$	28,641	$	28,876	$	103,138

	For the Fiscal Year Ended June 27, 2021
	Americas		Brazil		Asia		Total
Net sales	$	386,779	$	95,976	$	184,837	$	667,592
Cost of sales		350,373		64,281		159,444		574,098
Gross profit		36,406		31,695		25,393		93,494
Segment depreciation expense		21,054		1,315		—		22,369
Segment Profit	$	57,460	$	33,010	$	25,393	$	115,863

	For the Fiscal Year Ended June 28, 2020
	Americas		Brazil		Asia		Total
Net sales	$	380,138	$	73,339	$	153,032	$	606,509
Cost of sales		368,976		62,144		136,349		567,469
Gross profit		11,162		11,195		16,683		39,040
Segment depreciation expense		19,274		1,385		—		20,659
Segment Profit	$	30,436	$	12,580	$	16,683	$	59,699

The reconciliations of segment gross profit to consolidated income (loss) before income taxes are as follows:

	For the Fiscal Year Ended
	July 3, 2022			June 27, 2021			June 28, 2020
Americas	$	24,468		$	36,406		$	11,162
Brazil		27,141			31,695			11,195
Asia		28,876			25,393			16,683
Segment gross profit		80,485			93,494			39,040
SG&A expenses		52,489			51,334			43,814
(Benefit) provision for bad debts		(445	)		(1,316	)		1,739
Other operating (income) expense, net		(158	)		4,865			2,308
Operating income (loss)		28,599			38,611			(8,821	)
Interest income		(1,524	)		(603	)		(722	)
Interest expense		3,085			3,323			4,779
Equity in (earnings) loss of unconsolidated affiliates		(605	)		(739	)		477
Recovery of non-income taxes, net		815			(9,717	)		—
Gain on sale of investment in unconsolidated affiliate		—			—			(2,284	)
Impairment of investment in unconsolidated affiliate		—			—			45,194
Income (loss) before income taxes	$	26,828		$	46,347		$	(56,265	)

The reconciliations of segment depreciation and amortization expense to consolidated depreciation and amortization expense are as follows:

	For the Fiscal Year Ended
	July 3, 2022		June 27, 2021		June 28, 2020
Americas	$	21,153	$	21,054	$	19,274
Brazil		1,500		1,315		1,385
Asia		—		—		—
Segment depreciation expense		22,653		22,369		20,659
Other depreciation and amortization expense		3,554		3,159		2,994
Depreciation and amortization expense	$	26,207	$	25,528	$	23,653

The reconciliations of segment capital expenditures to consolidated capital expenditures are as follows:

	For the Fiscal Year Ended
	July 3, 2022		June 27, 2021		June 28, 2020
Americas	$	29,841	$	16,053	$	15,087
Brazil		9,253		3,461		2,332
Asia		236		666		60
Segment capital expenditures		39,330		20,180		17,479
Other capital expenditures		301		998		1,030
Capital expenditures	$	39,631	$	21,178	$	18,509

The reconciliations of segment total assets to consolidated total assets are as follows:

	July 3, 2022		June 27, 2021
Americas	$	379,898	$	327,445
Brazil		98,731		85,950
Asia		81,322		68,034
Segment total assets		559,951		481,429
Other current assets		5,145		48,587
Other PP&E		17,809		21,175
Other operating lease assets		756		1,116
Other non-current assets		2,985		902
Investments in unconsolidated affiliates		2,072		2,159
Total assets	$	588,718	$	555,368

Geographic Data

	For the Fiscal Year Ended
Net Sales	July 3, 2022		June 27, 2021		June 28, 2020
U.S.	$	430,381	$	341,897	$	342,350
China		185,558		171,261		148,923
Brazil		126,066		95,976		73,339
Remaining Foreign Countries		73,753		58,458		41,897
Total	$	815,758	$	667,592	$	606,509

Export sales from UNIFI’s U.S. operations to external customers	$	74,589	$	59,055	$	64,305

The net sales amounts are based on the operating locations from where the items were produced or distributed.

Long-Lived Assets	July 3, 2022		June 27, 2021		June 28, 2020
U.S.	$	196,885	$	191,733	$	195,874
Brazil		21,927		21,733		10,805
China		2,211		1,919		779
Remaining Foreign Countries		12,932		9,708		9,859
Total	$	233,955	$	225,093	$	217,317

Long-lived assets are comprised of PP&E, net; operating lease assets; intangible assets, net; investments in unconsolidated affiliates; and other non-current assets.

We have revised amounts reported in previously issued financial statements as of June 27, 2021 presented in this Annual Report on Form 10-K to correct an immaterial error. The error relates to the transposition of the disclosure of reportable segment assets for the Asia segment and the previously-reported Nylon segment. We evaluated the effect of the error to our previously issued financial statements in accordance with SEC Staff Accounting Bulletins No. 99 and No. 108 and, based upon quantitative and qualitative factors, determined that the error was not material to the previously issued financial statements and disclosure included in our Annual Reports on Form 10-K for the year ended June 27, 2021, or for comparative period amount (i.e. the amounts as of June 27, 2021) reflected in our quarterly report for the quarterly period ended September 30, 2021.

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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Quarterly Results (Unaudited)

Quarterly Results (Unaudited)

12 Months Ended

Jul. 03, 2022

Quarterly Financial Data [Abstract]

25. Quarterly Results (Unaudited)

Quarterly financial data and selected highlights are as follows:

	For the Fiscal Quarter Ended
	September 26, 2021		December 26, 2021		March 27, 2022		July 3, 2022
Net sales ⁽¹⁾	$	195,992	$	201,410	$	200,780	$	217,576
Gross profit ⁽²⁾		26,097		16,890		19,144		18,354
Net income ⁽³⁾		8,680		929		2,066		3,496
Net income per common share:
Basic ⁽⁴⁾	$	0.47	$	0.05	$	0.11	$	0.19
Diluted ⁽⁴⁾	$	0.46	$	0.05	$	0.11	$	0.19

	For the Fiscal Quarter Ended
	September 27, 2020		December 27, 2020		March 28, 2021		June 27, 2021
Net sales ⁽⁵⁾	$	141,505	$	162,776	$	178,866	$	184,445
Gross profit ⁽⁶⁾		14,561		25,934		25,595		27,404
Net income ⁽⁷⁾		3,432		7,464		4,758		13,419
Net income per common share:
Basic ⁽⁴⁾	$	0.19	$	0.40	$	0.26	$	0.73
Diluted ⁽⁴⁾	$	0.18	$	0.40	$	0.25	$	0.70

(1)	The fiscal quarter ending July 3, 2022 included an additional week of sales of approximately $8,700.

(2)	Gross profit for our domestic operations for all fiscal quarters of fiscal 2022 includes adverse pressures from (i) higher raw material costs, (ii) rising input costs, and (iii) the weakening of labor productivity.

(3)	Net income for our domestic operations for all fiscal quarters of fiscal 2022 includes the adverse pressures on gross profit.

(4)	Income per share is computed independently for each of the periods presented. The sum of the income per share amounts for the fiscal quarters may not equal the total for the fiscal year.

(5)	Net sales for the fiscal quarters ended September 27, 2020 and December 27, 2020 includes adverse demand pressures from the COVID-19 pandemic.

(6)

Gross profit for the fiscal quarter ended September 27, 2020 includes adverse demand pressures from the COVID-19 pandemic. Gross profit for the fiscal quarters ended December 27, 2020, March 28, 2021, and June 27, 2021 includes the benefit of exceptional performance by the Brazil Segment primarily due to higher conversion margin and market share capture due to agility and responsiveness during demand recovery in Brazil.

(7)

Net income for the fiscal quarter ended September 27, 2020 includes adverse demand pressures from the COVID-19 pandemic. Net income for the fiscal quarter ended June 27, 2021 includes a recovery of non-income taxes in Brazil due to the favorable conclusion of litigation related to excess social program taxes for multiple prior years.

Supplemental Cash Flow Information

12 Months Ended

Jul. 03, 2022

Additional Cash Flow Elements And Supplemental Cash Flow Information [Abstract]

Supplemental Cash Flow Information

26. Supplemental Cash Flow Information

Cash payments for interest and taxes consist of the following:

	For the Fiscal Year Ended
	July 3, 2022		June 27, 2021		June 28, 2020
Interest, net of capitalized interest of $396, $229 and $126, respectively	$	2,921	$	3,158	$	4,682
Income taxes, net of refunds		13,045		8,239		6,131

Cash payments for taxes shown above consist primarily of income and withholding tax payments made by UNIFI in both U.S. and foreign jurisdictions, net of refunds. Fiscal 2022 includes an income tax payment of $3,749 related to the recovery of non-income taxes described in Note 8, “Other Current Assets.”

Non-Cash Investing and Financing Activities

As of July 3, 2022, June 27, 2021, and June 28, 2020, $2,456, $2,080, and $630, respectively, were included in accounts payable for unpaid capital expenditures.

During fiscal years ended July 3, 2022, June 27, 2021, and June 28, 2020, UNIFI recorded non-cash activity relating to finance leases of $2,493, $740, and $6,301, respectively.

Significant Accounting Policies (Policies)

12 Months Ended

Jul. 03, 2022

Accounting Policies [Abstract]

Fiscal Year

Unifi, Inc.’s fiscal 2022 consisted of 53 weeks, while fiscal 2021 and 2020 each consisted of 52 weeks.

Current Economic Environment

Principles of Consolidation

Use of Estimates

Cash and Cash Equivalents

Receivables

Inventories

Debt Issuance Costs

Property, Plant and Equipment

Asset categories		Useful lives in years
Land improvements		5 to 20
Buildings and improvements		10 to 40
Machinery and equipment		2 to 25
Computer, software and office equipment		3 to 7
Internal software development costs		3
Transportation equipment		3 to 15

Leasehold improvements are depreciated over the lesser of their estimated useful lives or the remaining term of the lease.

Interest is capitalized for capital projects requiring a construction period.

Intangible Assets

Investments in Unconsolidated Affiliates

UNIFI evaluates its investments in unconsolidated affiliates for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable.

Derivative Instruments

Fair Value Measurements

•

Level 1 – Observable inputs that reflect quoted prices for identical assets or liabilities in active markets.

•

Level 2 – Inputs other than quoted prices included in Level 1 that are observable for the asset or liability either indirectly or directly.

•

Level 3 – Unobservable inputs reflecting management’s own assumptions about the inputs used in pricing the asset or liability.

The classification of assets and liabilities within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement in its entirety.

There were no transfers into or out of the levels of the fair value hierarchy for any years presented.

Income Taxes

Stock-Based Compensation

Foreign Currency Translation

Revenue Recognition

Cost of Sales

Shipping, Handling and Warehousing Costs

Shipping, Handling, and Warehousing Costs

Shipping, handling, and warehousing costs include costs to store goods prior to shipment, prepare goods for shipment and physically move goods to customers.

Research and Development Costs

	For the Fiscal Year Ended
	July 3, 2022		June 27, 2021		June 28, 2020
Research and development costs	$	12,103	$	11,483	$	11,257

Selling, General and Administrative Expenses

Selling, General, and Administrative Expenses

Advertising Costs

	For the Fiscal Year Ended
	July 3, 2022		June 27, 2021		June 28, 2020
Advertising costs	$	4,673	$	2,919	$	2,044

Self Insurance

Self-Insurance

Contingencies

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jul. 03, 2022

Accounting Policies [Abstract]

Useful Lives of Property Plant and Equipment

Depreciation is calculated primarily utilizing the straight-line method over the following useful lives:

Asset categories		Useful lives in years
Land improvements		5 to 20
Buildings and improvements		10 to 40
Machinery and equipment		2 to 25
Computer, software and office equipment		3 to 7
Internal software development costs		3
Transportation equipment		3 to 15

Schedule of Research and Development Costs

Research and development costs were as follows

	For the Fiscal Year Ended
	July 3, 2022		June 27, 2021		June 28, 2020
Research and development costs	$	12,103	$	11,483	$	11,257

Schedule of Advertising Costs

Advertising costs were as follows

	For the Fiscal Year Ended
	July 3, 2022		June 27, 2021		June 28, 2020
Advertising costs	$	4,673	$	2,919	$	2,044

Leases (Tables)

12 Months Ended

Jul. 03, 2022

Leases [Abstract]

Schedule of Balance Sheet Location and Values of Company's Lease Assets and Lease Liabilities

The following table sets forth the balance sheet location and values of the Company’s lease assets and lease liabilities:

Classification	Balance Sheet Location	July 3, 2022		June 27, 2021
Lease Assets
Operating lease assets	Operating lease assets	$	8,829	$	8,772
Finance lease assets	Property, plant & equipment, net		7,017		16,037
Total lease assets		$	15,846	$	24,809

Lease Liabilities
Current operating lease liabilities	Current operating lease liabilities	$	2,190	$	1,856
Current finance lease liabilities	Current portion of long-term debt		1,726		3,545
Total current lease liabilities		$	3,916	$	5,401

Non-current operating lease liabilities	Non-current operating lease liabilities	$	6,736	$	7,032
Non-current finance lease liabilities	Long-term debt		5,535		4,930
Total non-current lease liabilities		$	12,271	$	11,962

Total lease liabilities		$	16,187	$	17,363

Schedule of Components of Lease Cost

The following table sets forth the components of UNIFI’s total lease cost for fiscal 2022 and 2021:

	For The Fiscal Year		For The Fiscal Year
Lease Cost	July 3, 2022		June 27, 2021
Operating lease cost	$	2,766	$	2,465
Variable lease cost		502		503
Finance lease cost:
Amortization of lease assets		1,981		1,998
Interest on lease liabilities		258		365
Short-term lease cost		967		1,007
Total lease cost	$	6,474	$	6,338

Schedule of Supplemental Cash Flow Information and Non-Cash Activity Related to Operating Leases

The following table presents supplemental information related to leases:

	For The Fiscal Year		For The Fiscal Year
Other Information	July 3, 2022		June 27, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used by operating leases	$	2,766	$	2,465
Financing cash flows used by finance leases	$	3,707	$	3,646
Non-cash activities:
Leased assets obtained in exchange for new operating lease liabilities	$	1,662	$	2,606
Leased assets obtained in exchange for new finance lease liabilities	$	2,493	$	740

Schedule of Weighted-Average Remaining Lease Term and Discount Rate for Operating Leases and Finance Leases

The following table sets forth UNIFI's weighted average remaining lease term in years and discount rate percentage used in the calculation of its outstanding lease liabilities:

Weighted Average Remaining Lease Term and Discount Rate	July 3, 2022			June 27, 2021
Weighted average remaining lease term (years):
Operating leases		4.1			5.9
Finance leases		4.2			3.8
Weighted average discount rate (percentage):
Operating leases		5.0	%		5.1	%
Finance leases		3.6	%		3.6	%

Schedule of Future Minimum Lease Payments for Finance Leases and Operating Leases

Maturity of Lease Liabilities	Finance Leases			Operating Leases
Fiscal 2023	$	2,032		$	2,595
Fiscal 2024		2,032			2,004
Fiscal 2025		1,880			1,498
Fiscal 2026		1,385			1,201
Fiscal 2027		821			971
Fiscal years thereafter		100			1,788
Total minimum lease payments	$	8,250		$	10,057
Less estimated executory costs		(413	)		—
Less imputed interest		(576	)		(1,131	)
Present value of net minimum lease payments		7,261			8,926
Less current portion of lease obligations		(1,726	)		(2,190	)
Long-term portion of lease obligations	$	5,535		$	6,736

Revenue Recognition (Tables)

12 Months Ended

Jul. 03, 2022

Revenue From Contract With Customer [Abstract]

Disaggregated Revenues and Product Sales for UNIFI

The following tables present net sales disaggregated by (i) classification of customer type and (ii) REPREVE Fiber sales:

	For the Fiscal Year Ended
	July 3, 2022		June 27, 2021		June 28, 2020
Third-party manufacturer	$	808,655	$	656,763	$	598,510
Service		7,103		10,829		7,999
Net sales	$	815,758	$	667,592	$	606,509

	For the Fiscal Year Ended
	July 3, 2022		June 27, 2021		June 28, 2020
REPREVE^® Fiber	$	293,080	$	245,832	$	186,141
All other products and services		522,678		421,760		420,368
Net sales	$	815,758	$	667,592	$	606,509

Receivables, Net (Tables)

12 Months Ended

Jul. 03, 2022

Receivables [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable

Receivables, net consists of the following:

	July 3, 2022			June 27, 2021
Customer receivables	$	99,963		$	81,921
Allowance for uncollectible accounts		(1,498	)		(2,525	)
Reserves for quality claims		(860	)		(703	)
Net customer receivables		97,605			78,693
Other receivables		8,960			16,144
Total receivables, net	$	106,565		$	94,837

Allowance for Credit Losses on Financing Receivables

The changes in UNIFI’s allowance for uncollectible accounts and reserves for quality claims were as follows:

	Allowance for Uncollectible Accounts			Reserves for Quality Claims
Balance at June 30, 2019	$	(2,338	)	$	(961	)
Charged to costs and expenses		(1,739	)		(1,251	)
Translation activity		186			10
Deductions		95			1,274
Balance at June 28, 2020	$	(3,796	)	$	(928	)
Credited (charged) to costs and expenses		1,316			(1,085	)
Translation activity		(89	)		(36	)
Deductions		44			1,346
Balance at June 27, 2021	$	(2,525	)	$	(703	)
Credited (charged) to costs and expenses		445			(1,065	)
Translation activity		40			12
Deductions		542			896
Balance at July 3, 2022	$	(1,498	)	$	(860	)

Inventories (Tables)

12 Months Ended

Jul. 03, 2022

Inventory Disclosure [Abstract]

Inventories Components

Inventories consists of the following:

	July 3, 2022			June 27, 2021
Raw materials	$	69,994		$	54,895
Supplies		11,953			10,692
Work in process		10,358			7,516
Finished goods		84,477			70,525
Gross inventories		176,782			143,628
Net realizable value adjustment		(3,487	)		(2,407	)
Total inventories	$	173,295		$	141,221

Other Current Assets (Tables)

12 Months Ended

Jul. 03, 2022

Other Assets Current [Abstract]

Schedule of Other Current Assets

Other current assets consists of the following:

	July 3, 2022		June 27, 2021
Vendor deposits	$	6,910	$	3,341
Recovery of non-income taxes, net		6,770		3,456
Prepaid expenses and other		3,004		2,753
Value-added taxes receivable		1,987		2,484
Contract assets		285		330
Total other current assets	$	18,956	$	12,364

Property, Plant and Equipment, Net (Tables)

12 Months Ended

Jul. 03, 2022

Property Plant And Equipment [Abstract]

PP&E Net Components

PP&E, net consists of the following:

	July 3, 2022			June 27, 2021
Land	$	3,160		$	3,184
Land improvements		16,443			16,372
Buildings and improvements		164,252			160,122
Assets under finance leases		10,921			22,000
Machinery and equipment		635,699			609,414
Computers, software and office equipment		25,348			24,848
Transportation equipment		10,591			10,461
Construction in progress		20,397			17,834
Gross PP&E		886,811			864,235
Less: accumulated depreciation		(666,569	)		(656,576	)
Less: accumulated amortization – finance leases		(3,904	)		(5,963	)
Total PP&E, net	$	216,338		$	201,696

Schedule of Capital Leased Assets

Assets under finance leases consists of the following:

	July 3, 2022		June 27, 2021
Transportation equipment	$	8,276	$	8,276
Machinery and equipment		2,645		9,897
Building improvements		—		3,827
Gross assets under finance leases	$	10,921	$	22,000

Schedule of Depreciation Expense and Repair and Maintenance Expense

Depreciation and amortization expense and repair and maintenance expenses were as follows:

	For the Fiscal Year Ended
	July 3, 2022		June 27, 2021		June 28, 2020
Depreciation and amortization expense	$	24,509	$	24,215	$	22,551
Repair and maintenance expenses		20,076		18,118		18,093

Other Non-Current Assets (Tables)

12 Months Ended

Jul. 03, 2022

Schedule of Other Non-Current Assets

Other non-current assets consists of the following:

	July 3, 2022		June 27, 2021
Intangible assets, net	$	2,500	$	3,978
Grantor trust		2,196		—
Investments in unconsolidated affiliates		2,072		2,159
Recovery of non-income taxes, net		—		8,063
Other		2,020		425
Total other non-current assets	$	8,788	$	14,625

Components of Intangible Assets, Net

Intangible assets, net consists of the following:

	July 3, 2022			June 27, 2021
Customer lists	$	5,220		$	5,220
Non-compete agreement		1,875			1,875
Trademarks		104			411
Total intangible assets, gross		7,199			7,506

Accumulated amortization – customer lists		(3,056	)		(2,049	)
Accumulated amortization – non-compete agreement		(1,563	)		(1,188	)
Accumulated amortization – trademarks		(80	)		(291	)
Total accumulated amortization		(4,699	)		(3,528	)
Total intangible assets, net	$	2,500		$	3,978

Amortization Expense for Intangible Assets

Amortization expense for intangible assets consists of the following:

	For the Fiscal Year Ended
	July 3, 2022		June 27, 2021		June 28, 2020
Customer lists	$	1,007	$	556	$	326
Non-compete agreement		375		375		375
Trademarks		96		147		154
Total amortization expense	$	1,478	$	1,078	$	855

Expected Intangible Asset Amortization

The following table presents the expected intangible asset amortization for the next five fiscal years:

		Fiscal 2023				Fiscal 2024				Fiscal 2025				Fiscal 2026				Fiscal 2027				Thereafter
Expected amortization		$	1,291			$	528			$	108			$	108			$	108			$	357

Schedule of Raw Material Purchases under Supply Agreement

UNIFI’s raw material purchases under this supply agreement consist of the following:

	For the Fiscal Year Ended
	July 3, 2022		June 27, 2021		June 28, 2020
UNFA	$	29,637	$	18,932	$	14,583
UNF		1,175		548		1,450
Total	$	30,812	$	19,480	$	16,033

Schedule of Unaudited, Condensed Balance Sheet Information for Unconsolidated Affiliates

	July 3, 2022		June 27, 2021
Current assets	$	10,705	$	7,931
Non-current assets		605		659
Current liabilities		8,056		3,967
Non-current liabilities		—		—
Shareholders’ equity and capital accounts		3,254		4,623

UNIFI’s portion of undistributed earnings		2,013		2,100

Income Statement Information [Member]

Schedule of Unaudited, Condensed Income Statement Information for Unconsolidated Affiliates

	July 3, 2022		June 27, 2021
Net sales	$	31,745	$	19,649
Gross profit		1,928		3,423
Income from operations		148		1,777
Net income		127		1,782
Depreciation and amortization		121		151

Distributions received		750		750

	For the Fiscal Year Ended June 28, 2020
	PAL			UNFs		Total
Net sales	$	544,006		$	17,068	$	561,074
Gross profit		7,592			2,056		9,648
(Loss) income from operations		(7,484	)		410		(7,074	)
Net (loss) income		(2,823	)		497		(2,326	)
Depreciation and amortization		33,455			135		33,590

Cash received by PAL under cotton rebate program		11,186			—		11,186
Earnings recognized by PAL for cotton rebate program		9,697			—		9,697

Distributions received		10,437			—		10,437

Other Current Liabilities (Tables)

12 Months Ended

Jul. 03, 2022

Other Liabilities Current [Abstract]

Schedule of Other Current Liabilities

Other current liabilities consists of the following:

	July 3, 2022		June 27, 2021
Payroll and fringe benefits	$	9,414	$	10,204
Incentive compensation		3,916		12,356
Utilities		2,287		2,347
Deferred revenue		1,694		2,691
Interest rate swaps		—		1,234
Property taxes and other		2,495		2,806
Total other current liabilities	$	19,806	$	31,638

Long-Term Debt (Tables)

12 Months Ended

Jul. 03, 2022

Debt Disclosure [Abstract]

Long-Term Debt Components

		Weighted Average
	Scheduled	Interest Rate as of	Principal Amounts as of
	Maturity Date	July 3, 2022	July 3, 2022			June 27, 2021
ABL Revolver	December 2023	3.2%	$	41,300		$	—
ABL Term Loan	December 2023	3.2%		65,000			77,500
Finance lease obligations	(1)	3.6%		7,261			8,475
Construction financing	(2)	1.9%		729			882
Total debt				114,290			86,857
Current ABL Term Loan				(10,000	)		(12,500	)
Current portion of finance lease obligations				(1,726	)		(3,545	)
Unamortized debt issuance costs				(255	)		(476	)
Total long-term debt			$	102,309		$	70,336

(1)	Scheduled maturity dates for finance lease obligations range from March 2025 to November 2027.

(2)	Refer to the discussion below under the subheading “Construction Financing” for further information.

Scheduled Maturities of Outstanding Debt Obligations

The following table presents the scheduled maturities of UNIFI’s outstanding debt obligations for the following five fiscal years and thereafter.

	Fiscal 2023		Fiscal 2024		Fiscal 2025		Fiscal 2026		Fiscal 2027		Thereafter
ABL Revolver	$	—	$	41,300	$	—	$	—	$	—	$	—
ABL Term Loan		10,000		55,000		—		—		—		—
Finance lease obligations		1,726		1,787		1,699		1,255		732		62
Total ⁽¹⁾	$	11,726	$	98,087	$	1,699	$	1,255	$	732	$	62

(1)

Total reported excludes $729 for construction financing, described above.

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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Other Liabilities Disclosure [Abstract]

Other Long-Term Liabilities (Tables)

12 Months Ended

Jul. 03, 2022

Other Long-Term Liabilities Components

Other long-term liabilities consists of the following:

	July 3, 2022		June 27, 2021
Nonqualified deferred compensation plan obligation	$	1,982	$	2,090
Uncertain tax positions		1,575		3,045
Other		892		2,337
Total other long-term liabilities	$	4,449	$	7,472

Income Taxes (Tables)

12 Months Ended

Jul. 03, 2022

Income Tax Disclosure [Abstract]

Components of Income (loss) before Income Taxes

The components of income (loss) before income taxes consist of the following:

	For the Fiscal Year Ended
	July 3, 2022			June 27, 2021			June 28, 2020
U.S.	$	(18,364	)	$	(12,463	)	$	(74,905	)
Foreign		45,192			58,810			18,640
Income (loss) before income taxes	$	26,828		$	46,347		$	(56,265	)

Schedule of Provision for Income Taxes

Provision for income taxes consists of the following:

	For the Fiscal Year Ended
	July 3, 2022			June 27, 2021			June 28, 2020
Current:
Federal	$	(1,163	)	$	(577	)	$	282
State		2			25			(118	)
Foreign		15,935			12,739			4,819
Total current tax expense		14,774			12,187			4,983
Deferred:
Federal		(630	)		(1,564	)		(3,783	)
State		33			131			116
Foreign		(2,520	)		6,520			(344	)
Total deferred tax expense		(3,117	)		5,087			(4,011	)
Provision for income taxes	$	11,657		$	17,274		$	972

Reconciliation from Federal Statutory Tax Rate to Effective Tax Rate

Reconciliation from the federal statutory tax rate to the effective tax rate is as follows:

	For the Fiscal Year Ended
	July 3, 2022			June 27, 2021			June 28, 2020
Federal statutory tax rate		21.0	%		21.0	%		21.0	%
Change in valuation allowance		12.6			5.0			0.6
Foreign income taxed at different rates		10.7			9.0			(1.2	)
Tax expense on unremitted foreign earnings		5.5			7.0			(0.9	)
Repatriation of foreign earnings and withholding taxes		3.9			1.8			(2.0	)
Change in uncertain tax positions		2.4			0.5			(0.3	)
Nondeductible compensation		2.1			1.4			(0.8	)
U.S. tax on GILTI		0.2			3.9			(5.0	)
Nontaxable income		(10.2	)		(2.4	)		1.1
Research and other business credits		(4.0	)		(3.7	)		2.0
State income taxes, net of federal tax benefit		(1.3	)		(0.2	)		2.6
Foreign tax credits		(0.5	)		(5.4	)		0.9
Deemed repatriation of foreign earnings under Subpart F		—			1.5			—
Domestic production activities deduction		—			0.6			—
Rate benefit of U.S. federal NOL carryback		—			(2.8	)		—
Valuation allowance related to loss on sale of investment in PAL		—			—			(19.3	)
Nondeductible expenses and other		1.1			0.1			(0.4	)
Effective tax rate		43.5	%		37.3	%		(1.7	)%

Deferred Tax Assets and Liabilities

The significant components of UNIFI’s deferred tax assets and liabilities consist of the following:

	July 3, 2022			June 27, 2021
Deferred tax assets:
Capital loss carryforwards	$	16,318		$	17,429
Tax credits		12,079			18,711
Research and development costs		7,409			6,934
NOL carryforwards		6,603			3,043
Accrued compensation		2,106			4,056
Other items		4,877			4,815
Total gross deferred tax assets		49,392			54,988
Valuation allowance		(31,667	)		(36,980	)
Net deferred tax assets		17,725			18,008
Deferred tax liabilities:
PP&E		(14,952	)		(16,045	)
Unremitted earnings		(5,253	)		(3,769	)
Recovery of non-income taxes		132			(3,664	)
Other		(138	)		(8	)
Total deferred tax liabilities		(20,211	)		(23,486	)
Net deferred tax liabilities	$	(2,486	)	$	(5,478	)

Schedule of Components of Deferred Tax Valuation Allowance

Components of UNIFI’s deferred tax valuation allowance are as follows:

	For the Fiscal Year Ended
	July 3, 2022			June 27, 2021			June 28, 2020
Capital loss carryforwards	$	(16,318	)	$	(17,429	)	$	(13,791	)
Tax credits		(10,779	)		(17,215	)		(17,111	)
NOL carryforwards		(4,570	)		(2,336	)		(2,542	)
Investments, including unconsolidated affiliates		—			—			(3,995	)
Total deferred tax valuation allowance	$	(31,667	)	$	(36,980	)	$	(37,439	)

Reconciliation of Beginning and Ending Gross Amounts of Unrecognized Tax Benefits

A reconciliation of beginning and ending gross amounts of unrecognized tax benefits is as follows:

	For the Fiscal Year Ended
	July 3, 2022			June 27, 2021			June 28, 2020
Balance at beginning of year	$	2,590		$	1,218		$	1,083
Gross increases (decreases) related to current period tax positions		408			(24	)		98
Gross (decreases) increases related to tax positions in prior periods		(89	)		1,396			37
Gross decreases related to settlements with tax authorities		—			—			—
Gross decreases related to lapse of applicable statute of limitations		—			—			—
Balance at end of year	$	2,909		$	2,590		$	1,218

Shareholders' Equity (Tables)

12 Months Ended

Jul. 03, 2022

Stockholders Equity Note [Abstract]

Repurchases and Retirements of Common Stock

The following table summarizes UNIFI’s repurchases and retirements of its common stock under the 2018 SRP for the fiscal periods noted:

	Total Number of Shares Repurchased as Part of Publicly Announced Plans or Programs		Average Price Paid per Share		Approximate Dollar Value that May Yet Be Repurchased Under Publicly Announced Plans or Programs
Fiscal 2019		—	$	—	$	50,000
Fiscal 2020		84	$	23.72	$	48,008
Fiscal 2021		—	$	—	$	48,008
Fiscal 2022		617	$	14.84	$	38,859
Total		701	$	15.90	$	38,859

Stock-Based Compensation (Tables)

12 Months Ended

Jul. 03, 2022

Summary of Number of Securities Remaining Available for Future Issuance

The following table provides information as of July 3, 2022 with respect to the number of securities remaining available for future issuance under the 2020 Plan:

Authorized under the 2020 Plan	850
Plus: Awards expired, forfeited or otherwise terminated unexercised	1
Less: Awards granted to employees	(209	)
Less: Awards granted to non-employee directors	(41	)
Available for issuance under the 2020 Plan	601

Stock Option Valuation Assumptions

The Black-Scholes model used the following weighted average assumptions for the above awards:

	For the Fiscal Year Ended
	July 3, 2022		June 27, 2021			June 28, 2020
Expected term (years)		—		5.5			5.5
Risk-free interest rate		—		0.4	%		0.7	%
Volatility		—		49.0	%		43.2	%
Dividend yield		—		—			—

Summary of Stock Option Activity

A summary of stock option activity for fiscal 2022 is as follows:

	Stock Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)		Aggregate Intrinsic Value
Outstanding at June 27, 2021		1,114		$	16.82
Granted		—		$	—
Exercised		(10	)	$	11.09
Cancelled or forfeited		(122	)	$	25.45
Expired		—		$	—
Outstanding at July 3, 2022		982		$	15.81		7.2	$	1,296
Vested and expected to vest as of July 3, 2022		982		$	15.81		7.2	$	1,296
Exercisable at July 3, 2022		380		$	20.15		6.1	$	285

Summary of RSU, VSU and PSU Activity

A summary of RSU, VSU and PSU activity for fiscal 2022 is as follows:

	Non-vested			Weighted Average Grant Date Fair Value		Vested			Total			Weighted Average Grant Date Fair Value
Outstanding at June 27, 2021		162		$	16.75		241			403		$	20.82
Granted		166		$	23.12		—			166		$	23.12
Vested		(92	)	$	18.78		92			—		$	18.78
Converted		—		$	—		(88	)		(88	)	$	19.80
Cancelled or forfeited		(2	)	$	20.39		—			(2	)	$	20.39
Outstanding at July 3, 2022		234		$	20.38		245			479		$	21.80

Stock Based Compensation Total Cost Charged Against Income

The total cost charged against income related to all stock-based compensation arrangements was as follows:

	For the Fiscal Year Ended
	July 3, 2022		June 27, 2021		June 28, 2020
Stock options	$	928	$	1,047	$	1,265
RSUs and VSUs		2,253		2,015		2,245
Total compensation cost	$	3,181	$	3,062	$	3,510

Black Scholes Model

Stock Option Valuation Assumptions

A summary of UNIFI’s stock options granted to key employees and valued under the Black-Scholes model is as follows:

	For the Fiscal Year Ended
	July 3, 2022		June 27, 2021		June 28, 2020
Quantity		—		155		143
Service Period (years)		—		3.0		3.0
Weighted Average Exercise Price	$	—	$	15.64	$	19.95
Weighted Average Grant Date Fair Value	$	—	$	6.75	$	7.33

Defined Contribution Plans (Tables)

12 Months Ended

Jul. 03, 2022

Compensation And Retirement Disclosure [Abstract]

Schedule of Employer Matching Contribution Expense Related to 401(k) Plan

The following table presents the employer matching contribution expense related to the 401(k) Plan:

	For the Fiscal Year Ended
	July 3, 2022		June 27, 2021		June 28, 2020
Matching contribution expense	$	3,215	$	2,578	$	2,491

Fair Value of Financial Instruments and Non-Financial Assets and Liabilities (Tables)

12 Months Ended

Jul. 03, 2022

Fair Value Disclosures [Abstract]

Schedule of Fair Value Attributes for the Historical Swaps

The below table presents the fair value attributes for the historical swaps as of June 27, 2021.

As of June 27, 2021	Notional Amount			Balance Sheet Location	Fair Value Hierarchy	Fair Value
Swap A	USD	$	20,000	Other current liabilities	Level 2	$	334
Swap B	USD	$	30,000	Other current liabilities	Level 2	$	500
Swap C	USD	$	25,000	Other current liabilities	Level 2	$	400

Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

Jul. 03, 2022

Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]

Schedule of Changes in Accumulated Other Comprehensive Loss, Net of Tax

The components of and the changes in accumulated other comprehensive loss, net of tax, as applicable, consist of the following:

	Foreign Currency Translation Adjustments			Changes in Interest Rate Swaps			Accumulated Other Comprehensive Loss
Balance at June 30, 2019	$	(42,729	)	$	(500	)	$	(43,229	)
Other comprehensive loss, net of tax		(19,119	)		(1,458	)		(20,577	)
Balance at June 28, 2020	$	(61,848	)	$	(1,958	)	$	(63,806	)

Other comprehensive income, net of tax		9,368			1,006			10,374
Balance at June 27, 2021	$	(52,480	)	$	(952	)	$	(53,432	)

Other comprehensive (loss) income, net of tax		(7,125	)		952			(6,173	)
Balance at July 3, 2022	$	(59,605	)	$	—		$	(59,605	)

Summary of Other Comprehensive Income (Loss)

A summary of other comprehensive (loss) income for fiscal 2022, 2021, and 2020 is provided as follows:

	Fiscal 2022									Fiscal 2021							Fiscal 2020
	Pre-tax			Tax			After-tax			Pre-tax		Tax			After-tax		Pre-tax			Tax		After-tax
Other comprehensive (loss) income:
Foreign currency translation adjustments	$	(7,125	)	$	—		$	(7,125	)	$	9,368	$	—		$	9,368	$	(21,027	)	$	—	$	(21,027	)
Foreign currency translation adjustments for an unconsolidated affiliate		—			—			—			—		—			—		1,908			—		1,908
Changes in interest rate swaps, net of reclassification adjustments		1,234			(282	)		952			1,316		(310	)		1,006		(1,904	)		446		(1,458	)
Other comprehensive (loss) income, net	$	(5,891	)	$	(282	)	$	(6,173	)	$	10,684	$	(310	)	$	10,374	$	(21,023	)	$	446	$	(20,577	)

Computation of Earnings Per Share (Tables)

12 Months Ended

Jul. 03, 2022

Earnings Per Share [Abstract]

Computation of Basic and Diluted Earnings (Loss) Per Share

The computation of basic and diluted earnings per share (“EPS”) is as follows:

	For the Fiscal Year Ended
	July 3, 2022		June 27, 2021		June 28, 2020
Basic EPS
Net income (loss)	$	15,171	$	29,073	$	(57,237	)
Weighted average common shares outstanding		18,429		18,472		18,475
Basic EPS	$	0.82	$	1.57	$	(3.10	)
Diluted EPS
Net income (loss)	$	15,171	$	29,073	$	(57,237	)
Weighted average common shares outstanding		18,429		18,472		18,475
Net potential common share equivalents		439		384		—
Adjusted weighted average common shares outstanding		18,868		18,856		18,475
Diluted EPS	$	0.80	$	1.54	$	(3.10	)
Excluded from the calculation of common share equivalents:
Anti-dilutive common share equivalents		225		497		401
Excluded from the calculation of diluted shares:
Unvested stock options that vest upon achievement of certain market conditions		333		333		333

Commitments and Contingencies (Tables)

12 Months Ended

Jul. 03, 2022

Commitments And Contingencies Disclosure [Abstract]

Schedule of Unconditional Purchase Obligations

On a fiscal year basis, the minimum payments expected to be made as part of such commitments are as follows:

	Fiscal 2023		Fiscal 2024		Fiscal 2025		Fiscal 2026		Fiscal 2027		Thereafter
Unconditional purchase obligations	$	6,359	$	5,238	$	5,067	$	2,445	$	2,445	$	—
Unconditional service obligations		1,911		278		269		269		307		194
Total unconditional obligations	$	8,270	$	5,516	$	5,336	$	2,714	$	2,752	$	194

Schedule of Costs Incurred Under Purchases and Services Obligations

For fiscal 2022, 2021 and 2020, total costs incurred under these commitments consisted of the following:

	For the Fiscal Year Ended
	July 3, 2022		June 27, 2021		June 28, 2020
Costs for unconditional purchase obligations	$	24,236	$	22,689	$	21,483
Costs for unconditional service obligations		912		967		2,082
Total	$	25,148	$	23,656	$	23,565

Related Party Transactions (Tables)

12 Months Ended

Jul. 03, 2022

Related Party Payables

Related party payables for Salem Leasing Corporation consist of the following:

	July 3, 2022		June 27, 2021
Accounts payable	$	432	$	469
Operating lease obligations		811		1,133
Finance lease obligations		4,933		6,149
Total related party payables	$	6,176	$	7,751

Schedule of Related Party Transactions

The following are the Company’s significant related party transactions for the current and prior two fiscal years and consist of the matters in the table below:

For the Fiscal Year Ended

Affiliated Entity

Transaction Type

July 3, 2022

June 27, 2021

June 28, 2020

Salem Leasing Corporation

Payments for transportation

equipment costs and finance

lease debt service

4,343

4,122

3,798

Business Segment Information (Tables)

12 Months Ended

Jul. 03, 2022

Segment Reporting [Abstract]

Selected Financial Information for Polyester, Nylon, International and Other Segments

Selected financial information is presented below:

	For the Fiscal Year Ended July 3, 2022
	Americas		Brazil		Asia		Total
Net sales	$	483,085	$	126,066	$	206,607	$	815,758
Cost of sales		458,617		98,925		177,731		735,273
Gross profit		24,468		27,141		28,876		80,485
Segment depreciation expense		21,153		1,500		—		22,653
Segment Profit	$	45,621	$	28,641	$	28,876	$	103,138

	For the Fiscal Year Ended June 27, 2021
	Americas		Brazil		Asia		Total
Net sales	$	386,779	$	95,976	$	184,837	$	667,592
Cost of sales		350,373		64,281		159,444		574,098
Gross profit		36,406		31,695		25,393		93,494
Segment depreciation expense		21,054		1,315		—		22,369
Segment Profit	$	57,460	$	33,010	$	25,393	$	115,863

	For the Fiscal Year Ended June 28, 2020
	Americas		Brazil		Asia		Total
Net sales	$	380,138	$	73,339	$	153,032	$	606,509
Cost of sales		368,976		62,144		136,349		567,469
Gross profit		11,162		11,195		16,683		39,040
Segment depreciation expense		19,274		1,385		—		20,659
Segment Profit	$	30,436	$	12,580	$	16,683	$	59,699

Reconciliations of Segment Gross Profit to Consolidated Income (loss) Before Income Taxes

The reconciliations of segment gross profit to consolidated income (loss) before income taxes are as follows:

	For the Fiscal Year Ended
	July 3, 2022			June 27, 2021			June 28, 2020
Americas	$	24,468		$	36,406		$	11,162
Brazil		27,141			31,695			11,195
Asia		28,876			25,393			16,683
Segment gross profit		80,485			93,494			39,040
SG&A expenses		52,489			51,334			43,814
(Benefit) provision for bad debts		(445	)		(1,316	)		1,739
Other operating (income) expense, net		(158	)		4,865			2,308
Operating income (loss)		28,599			38,611			(8,821	)
Interest income		(1,524	)		(603	)		(722	)
Interest expense		3,085			3,323			4,779
Equity in (earnings) loss of unconsolidated affiliates		(605	)		(739	)		477
Recovery of non-income taxes, net		815			(9,717	)		—
Gain on sale of investment in unconsolidated affiliate		—			—			(2,284	)
Impairment of investment in unconsolidated affiliate		—			—			45,194
Income (loss) before income taxes	$	26,828		$	46,347		$	(56,265	)

Reconciliation of Segment Depreciation and Amortization Expense to Consolidated Depreciation and Amortization Expense

The reconciliations of segment depreciation and amortization expense to consolidated depreciation and amortization expense are as follows:

	For the Fiscal Year Ended
	July 3, 2022		June 27, 2021		June 28, 2020
Americas	$	21,153	$	21,054	$	19,274
Brazil		1,500		1,315		1,385
Asia		—		—		—
Segment depreciation expense		22,653		22,369		20,659
Other depreciation and amortization expense		3,554		3,159		2,994
Depreciation and amortization expense	$	26,207	$	25,528	$	23,653

Reconciliation of Segment Capital Expenditures to Consolidated Capital Expenditures

The reconciliations of segment capital expenditures to consolidated capital expenditures are as follows:

	For the Fiscal Year Ended
	July 3, 2022		June 27, 2021		June 28, 2020
Americas	$	29,841	$	16,053	$	15,087
Brazil		9,253		3,461		2,332
Asia		236		666		60
Segment capital expenditures		39,330		20,180		17,479
Other capital expenditures		301		998		1,030
Capital expenditures	$	39,631	$	21,178	$	18,509

Reconciliation of Segment Total Assets to Consolidated Total Assets

The reconciliations of segment total assets to consolidated total assets are as follows:

	July 3, 2022		June 27, 2021
Americas	$	379,898	$	327,445
Brazil		98,731		85,950
Asia		81,322		68,034
Segment total assets		559,951		481,429
Other current assets		5,145		48,587
Other PP&E		17,809		21,175
Other operating lease assets		756		1,116
Other non-current assets		2,985		902
Investments in unconsolidated affiliates		2,072		2,159
Total assets	$	588,718	$	555,368

Geographic Information for Net Sales

	For the Fiscal Year Ended
Net Sales	July 3, 2022		June 27, 2021		June 28, 2020
U.S.	$	430,381	$	341,897	$	342,350
China		185,558		171,261		148,923
Brazil		126,066		95,976		73,339
Remaining Foreign Countries		73,753		58,458		41,897
Total	$	815,758	$	667,592	$	606,509

Export sales from UNIFI’s U.S. operations to external customers	$	74,589	$	59,055	$	64,305

Geographic Information for Long-lived Assets

Long-Lived Assets	July 3, 2022		June 27, 2021		June 28, 2020
U.S.	$	196,885	$	191,733	$	195,874
Brazil		21,927		21,733		10,805
China		2,211		1,919		779
Remaining Foreign Countries		12,932		9,708		9,859
Total	$	233,955	$	225,093	$	217,317

Quarterly Results (Unaudited) (Tables)

12 Months Ended

Jul. 03, 2022

Quarterly Financial Data [Abstract]

Schedule of Quarterly Financial Data

Quarterly financial data and selected highlights are as follows:

	For the Fiscal Quarter Ended
	September 26, 2021		December 26, 2021		March 27, 2022		July 3, 2022
Net sales ⁽¹⁾	$	195,992	$	201,410	$	200,780	$	217,576
Gross profit ⁽²⁾		26,097		16,890		19,144		18,354
Net income ⁽³⁾		8,680		929		2,066		3,496
Net income per common share:
Basic ⁽⁴⁾	$	0.47	$	0.05	$	0.11	$	0.19
Diluted ⁽⁴⁾	$	0.46	$	0.05	$	0.11	$	0.19

	For the Fiscal Quarter Ended
	September 27, 2020		December 27, 2020		March 28, 2021		June 27, 2021
Net sales ⁽⁵⁾	$	141,505	$	162,776	$	178,866	$	184,445
Gross profit ⁽⁶⁾		14,561		25,934		25,595		27,404
Net income ⁽⁷⁾		3,432		7,464		4,758		13,419
Net income per common share:
Basic ⁽⁴⁾	$	0.19	$	0.40	$	0.26	$	0.73
Diluted ⁽⁴⁾	$	0.18	$	0.40	$	0.25	$	0.70

(1)	The fiscal quarter ending July 3, 2022 included an additional week of sales of approximately $8,700.

(2)	Gross profit for our domestic operations for all fiscal quarters of fiscal 2022 includes adverse pressures from (i) higher raw material costs, (ii) rising input costs, and (iii) the weakening of labor productivity.

(3)	Net income for our domestic operations for all fiscal quarters of fiscal 2022 includes the adverse pressures on gross profit.

(4)	Income per share is computed independently for each of the periods presented. The sum of the income per share amounts for the fiscal quarters may not equal the total for the fiscal year.

(5)	Net sales for the fiscal quarters ended September 27, 2020 and December 27, 2020 includes adverse demand pressures from the COVID-19 pandemic.

(6)

(7)

Supplemental Cash Flow Information (Tables)

12 Months Ended

Jul. 03, 2022

Supplemental Cash Flow Information [Abstract]

Schedule of Cash Payments for Interest and Taxes

Cash payments for interest and taxes consist of the following:

	For the Fiscal Year Ended
	July 3, 2022		June 27, 2021		June 28, 2020
Interest, net of capitalized interest of $396, $229 and $126, respectively	$	2,921	$	3,158	$	4,682
Income taxes, net of refunds		13,045		8,239		6,131

Background - Additional Information (Details)	Jul. 03, 2022 Entity
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Number of countries in which entity operates	4

Summary of Significant Accounting Policies - Useful Lives of Property, Plant and Equipment (Details)	12 Months Ended
	Jul. 03, 2022
Land Improvements [Member] \| Minimum [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, Useful life	5 years
Land Improvements [Member] \| Maximum [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, Useful life	20 years
Building and Improvements [Member] \| Minimum [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, Useful life	10 years
Building and Improvements [Member] \| Maximum [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, Useful life	40 years
Machinery and Equipment [Member] \| Minimum [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, Useful life	2 years
Machinery and Equipment [Member] \| Maximum [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, Useful life	25 years
Computers, Software and Office Equipment [Member] \| Minimum [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, Useful life	3 years
Computers, Software and Office Equipment [Member] \| Maximum [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, Useful life	7 years
Internal Software Development Costs [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, Useful life	3 years
Transportation Equipment [Member] \| Minimum [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, Useful life	3 years
Transportation Equipment [Member] \| Maximum [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, Useful life	15 years

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($)		9 Months Ended	12 Months Ended
	Apr. 29, 2020	Mar. 29, 2020	Jul. 03, 2022	Jun. 27, 2021	Jun. 28, 2020
Accounting Policies [Line Items]
Indefinite-Lived intangible assets			$ 0
Derivative instruments outstanding			0
Fair value assets and liabilities amount transfers into or out of the levels			$ 0	$ 0	$ 0
Parkdale, Incorporated [Member]
Accounting Policies [Line Items]
Equity method investment, ownership percentage					66.00%
Parkdale America LLC [Member]
Accounting Policies [Line Items]
Equity method investment, ownership percentage			34.00%		34.00%
Equity method investment, other than temporary impairment		$ 45,194,000			$ 45,194,000
Proceeds from sale of equity method investments	$ 60,000,000
Internal Software Development Costs [Member]
Accounting Policies [Line Items]
Property, plant and equipment, useful life			3 years

Summary of Significant Accounting Policies - Schedule of Research and Development Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2022	Jun. 27, 2021	Jun. 28, 2020
Research And Development Expense [Abstract]
Research and development costs	$ 12,103	$ 11,483	$ 11,257

Summary of Significant Accounting Policies - Schedule of Advertising Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2022	Jun. 27, 2021	Jun. 28, 2020
Accounting Policies [Abstract]
Advertising costs	$ 4,673	$ 2,919	$ 2,044

Leases - Additional Information (Details)	12 Months Ended
Leases - Additional Information (Details)	Jul. 03, 2022
Minimum [Member]
Lessee Lease Description [Line Items]
Lessee operating and finance lease term of contract	1 year
Maximum [Member]
Lessee Lease Description [Line Items]
Lessee operating and finance lease term of contract	15 years

Leases - Schedule of Balance Sheet Location and Values of Company's Lease Assets and Lease Liabilities (Details) - USD ($) $ in Thousands	Jul. 03, 2022	Jun. 27, 2021
Lessee Lease Description [Line Items]
Operating lease assets	$ 8,829	$ 8,772
Total lease assets	15,846	24,809
Current operating lease liabilities	2,190	1,856
Current finance lease liabilities	1,726
Total current lease liabilities	3,916	5,401
Non-current operating lease liabilities	6,736	7,032
Non-current finance lease liabilities	5,535
Total non-current lease liabilities	12,271	11,962
Total lease liabilities	16,187	17,363
Property, Plant and Equipment
Lessee Lease Description [Line Items]
Finance lease assets	7,017	16,037
Current Portion Of Long Term Debt
Lessee Lease Description [Line Items]
Current finance lease liabilities	1,726	3,545
Long-term Debt
Lessee Lease Description [Line Items]
Non-current finance lease liabilities	$ 5,535	$ 4,930

Leases - Schedule of Components of Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2022	Jun. 27, 2021
Leases [Abstract]
Operating lease cost	$ 2,766	$ 2,465
Variable lease cost	502	503
Finance lease cost:
Amortization of lease assets	1,981	1,998
Interest on lease liabilities	258	365
Short-term lease cost	967	1,007
Total lease cost	$ 6,474	$ 6,338

Leases - Schedule of Supplemental Cash Flow Information and Non-Cash Activity Related to Operating Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2022	Jun. 27, 2021	Jun. 28, 2020
Leases [Abstract]
Operating cash flows used by operating leases	$ 2,766	$ 2,465
Financing cash flows used by finance leases	3,707	3,646	$ 6,035
Non-cash activities:
Leased assets obtained in exchange for new operating lease liabilities	1,662	2,606
Leased assets obtained in exchange for new finance lease liabilities	$ 2,493	$ 740	$ 6,301

Leases - Schedule of Weighted-Average Remaining Lease Term and Discount Rate for Operating Leases and Finance Leases (Details)	Jul. 03, 2022	Jun. 27, 2021
Leases [Abstract]
Operating leases	4 years 1 month 6 days	5 years 10 months 24 days
Finance leases	4 years 2 months 12 days	3 years 9 months 18 days
Operating leases	5.00%	5.10%
Finance leases	3.60%	3.60%

Leases - Schedule of Future Minimum Lease Payments for Finance Leases and Operating Leases (Details) - USD ($)
$ in Thousands

Jul. 03, 2022

Jun. 27, 2021

Finance Leases

$ 2,032

2,032

1,880

1,385

821

Fiscal years thereafter

100

Total minimum lease payments

8,250

Less estimated executory costs

(413)

Less imputed interest

(576)

Present value of net minimum lease payments

^[1]

7,261

$ 8,475

Less current portion of lease obligations

(1,726)

Non-current finance lease liabilities

5,535

2,595

2,004

1,498

1,201

971

Fiscal years thereafter

1,788

Total minimum lease payments

10,057

Less imputed interest

(1,131)

Present value of net minimum lease payments

8,926

Less current portion of lease obligations

(2,190)

(1,856)

Non-current operating lease liabilities

$ 6,736

$ 7,032

[1]	Scheduled maturity dates for finance lease obligations range from March 2025 to November 2027

Revenue Recognition - Disaggregated Revenues and Product Sales for UNIFI (Details) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Jul. 03, 2022

^[1]

Mar. 27, 2022

^[1]

Dec. 26, 2021

^[1]

Sep. 26, 2021

^[1]

Jun. 27, 2021

^[2]

Mar. 28, 2021

^[2]

Dec. 27, 2020

^[2]

Sep. 27, 2020

^[2]

Jul. 03, 2022

Jun. 27, 2021

Jun. 28, 2020

Third-Party Manufacturer [Member]

$ 217,576

$ 200,780

$ 201,410

$ 195,992

$ 184,445

$ 178,866

$ 162,776

$ 141,505

$ 815,758

$ 667,592

$ 606,509

808,655

656,763

598,510

Service [Member]

7,103

10,829

7,999

REPREVE Fiber [Member]

All Other Products and Services [Member]

293,080

245,832

186,141

$ 522,678

$ 421,760

$ 420,368

[1]	The fiscal quarter ending July 3, 2022 included an additional week of sales of approximately $8,700.
[2]	Net sales for the fiscal quarters ended September 27, 2020 and December 27, 2020 includes adverse demand pressures from the COVID-19 pandemic.

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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Receivables, Net - Schedule of Accounts, Notes, Loans and Financing Receivable (Details) - USD ($) $ in Thousands	Jul. 03, 2022	Jun. 27, 2021
Receivables [Abstract]
Customer receivables	$ 99,963	$ 81,921
Allowance for uncollectible accounts	(1,498)	(2,525)
Reserves for quality claims	(860)	(703)
Net customer receivables	97,605	78,693
Other receivables	8,960	16,144
Total receivables, net	$ 106,565	$ 94,837

Receivables, Net - Additional Information (Details) - USD ($) $ in Thousands	Jul. 03, 2022	Jun. 27, 2021
Other receivables	$ 8,960	$ 16,144
Banker's Acceptance Notes [Member] \| Asia [Member]
Other receivables	$ 7,849	$ 13,391

Receivables, Net - Allowance for Credit Losses on Financing Receivables (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2022	Jun. 27, 2021	Jun. 28, 2020
Allowance for Doubtful Accounts [Member]
Balance at beginning of period	$ (2,525)	$ (3,796)	$ (2,338)
Credited (charged) to costs and expenses	445	1,316	(1,739)
Translation activity	40	(89)	186
Deductions	542	44	95
Balance at end of period	(1,498)	(2,525)	(3,796)
Reserve For Quality Claims [Member]
Balance at beginning of period	(703)	(928)	(961)
Credited (charged) to costs and expenses	(1,065)	(1,085)	(1,251)
Translation activity	12	(36)	10
Deductions	896	1,346	1,274
Balance at end of period	$ (860)	$ (703)	$ (928)

Inventories - Inventories Components (Details) - USD ($) $ in Thousands	Jul. 03, 2022	Jun. 27, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 69,994	$ 54,895
Supplies	11,953	10,692
Work in process	10,358	7,516
Finished goods	84,477	70,525
Gross inventories	176,782	143,628
Net realizable value adjustment	(3,487)	(2,407)
Total inventories	$ 173,295	$ 141,221

Inventories - Additional Information (Details) - USD ($) $ in Thousands	Jul. 03, 2022	Jun. 27, 2021
Inventory Disclosure [Abstract]
Foreign inventory valued at average cost	$ 53,793	$ 58,468

Other Current Assets - Schedule of Other Current Assets (Details) - USD ($) $ in Thousands	Jul. 03, 2022	Jun. 27, 2021
Other Assets Current [Abstract]
Vendor deposits	$ 6,910	$ 3,341
Recovery of non-income taxes, net	6,770	3,456
Prepaid expenses and other	3,004	2,753
Value-added taxes receivable	1,987	2,484
Contract assets	285	330
Total other current assets	$ 18,956	$ 12,364

Other Current Assets - Additional Information (Details) - UNIFI [Member] - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2022	Jun. 27, 2021
Recovery related to current and non-current assets		$ 11,519
Recovery related to net sales		10,577
Recovery related to non-income taxes	$ 815	9,717
Recovery related to taxes and interests		$ 942
Claim recovery period	12 months

Property, Plant and Equipment, Net - PP&E Net Components (Details) - USD ($) $ in Thousands	Jul. 03, 2022	Jun. 27, 2021
Property Plant And Equipment [Line Items]
Gross PP&E	$ 886,811	$ 864,235
Less: accumulated depreciation	(666,569)	(656,576)
Less: accumulated amortization – finance leases	(3,904)	(5,963)
Total PP&E, net	216,338	201,696
Land [Member]
Property Plant And Equipment [Line Items]
Gross PP&E	3,160	3,184
Land Improvements [Member]
Property Plant And Equipment [Line Items]
Gross PP&E	16,443	16,372
Buildings and Improvements [Member]
Property Plant And Equipment [Line Items]
Gross PP&E	164,252	160,122
Assets under Finance Leases [Member]
Property Plant And Equipment [Line Items]
Gross PP&E	10,921	22,000
Machinery and Equipment [Member]
Property Plant And Equipment [Line Items]
Gross PP&E	635,699	609,414
Computers, Software and Office Equipment [Member]
Property Plant And Equipment [Line Items]
Gross PP&E	25,348	24,848
Transportation Equipment [Member]
Property Plant And Equipment [Line Items]
Gross PP&E	10,591	10,461
Construction in Progress [Member]
Property Plant And Equipment [Line Items]
Gross PP&E	$ 20,397	$ 17,834

Property, Plant and Equipment, Net - Schedule of Capital Leased Assets (Details) - USD ($) $ in Thousands	Jul. 03, 2022	Jun. 27, 2021
Property Plant And Equipment [Line Items]
Gross assets under finance leases	$ 10,921	$ 22,000
Transportation Equipment [Member]
Property Plant And Equipment [Line Items]
Gross assets under finance leases	8,276	8,276
Machinery and Equipment [Member]
Property Plant And Equipment [Line Items]
Gross assets under finance leases	$ 2,645	9,897
Building Improvements [Member]
Property Plant And Equipment [Line Items]
Gross assets under finance leases		$ 3,827

Property, Plant and Equipment, Net - Schedule of Depreciation Expense and Repair and Maintenance Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2022	Jun. 27, 2021	Jun. 28, 2020
Property Plant And Equipment [Abstract]
Depreciation and amortization expense	$ 24,509	$ 24,215	$ 22,551
Repair and maintenance expenses	$ 20,076	$ 18,118	$ 18,093

Other Non Current Assets - Schedule of Other Non-Current Assets (Details) - USD ($) $ in Thousands	Jul. 03, 2022	Jun. 27, 2021
Other Assets Non Current [Abstract]
Intangible assets, net	$ 2,500	$ 3,978
Grantor trust	2,196	0
Investments in unconsolidated affiliates	2,072	2,159
Recovery of non-income taxes, net		8,063
Other	2,020	425
Total other non-current assets	$ 8,788	$ 14,625

Other Non-Current Assets - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2022	Jun. 27, 2021
Finite Lived Intangible Assets [Line Items]
Investment assets held by the trust	$ 2,196	$ 0
Losses on investments held by the trust	$ 48
Trademarks [Member]
Finite Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life	3 years
UNIFI [Member]
Finite Lived Intangible Assets [Line Items]
Recovery related to non-income taxes	$ 815	$ 9,717

Other Non-Current Assets - Components of Intangible Assets, Net (Details) - USD ($) $ in Thousands	Jul. 03, 2022	Jun. 27, 2021
Finite Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 7,199	$ 7,506
Intangible assets, accumulated amortization	(4,699)	(3,528)
Total intangible assets, net	2,500	3,978
Customer Lists [Member]
Finite Lived Intangible Assets [Line Items]
Intangible assets, gross	5,220	5,220
Intangible assets, accumulated amortization	(3,056)	(2,049)
Non-compete Agreements [Member]
Finite Lived Intangible Assets [Line Items]
Intangible assets, gross	1,875	1,875
Intangible assets, accumulated amortization	(1,563)	(1,188)
Trademarks [Member]
Finite Lived Intangible Assets [Line Items]
Intangible assets, gross	104	411
Intangible assets, accumulated amortization	$ (80)	$ (291)

Other Non-Current Assets - Amortization Expense for Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2022	Jun. 27, 2021	Jun. 28, 2020
Finite Lived Intangible Assets [Line Items]
Amortization expense	$ 1,478	$ 1,078	$ 855
Customer Lists [Member]
Finite Lived Intangible Assets [Line Items]
Amortization expense	1,007	556	326
Non-compete Agreements [Member]
Finite Lived Intangible Assets [Line Items]
Amortization expense	375	375	375
Trademarks [Member]
Finite Lived Intangible Assets [Line Items]
Amortization expense	$ 96	$ 147	$ 154

Other Non-Current Assets - Expected Intangible Asset Amortization (Details) $ in Thousands	Jul. 03, 2022 USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
Fiscal 2023	$ 1,291
Fiscal 2024	528
Fiscal 2025	108
Fiscal 2026	108
Fiscal 2027	108
Thereafter	$ 357

Other Non-Current Assets - Investments in Unconsolidated Affiliates (Details) $ in Thousands		9 Months Ended	12 Months Ended
	Apr. 29, 2020 USD ($)	Mar. 29, 2020 USD ($)	Jun. 28, 2020 USD ($)	Jul. 03, 2022 USD ($)	Jun. 27, 2021 USD ($)	Oct. 31, 2009	Sep. 30, 2000
Schedule Of Equity Method Investments [Line Items]
Equity method investments				$ 2,072	$ 2,159
UNF [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method investment, ownership percentage							50.00%
UNF America [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method investment, ownership percentage						50.00%
UNF and UNF America [Member]
Schedule Of Equity Method Investments [Line Items]
Purchase commitment, remaining minimum amount committed				896
Accounts payable, related parties				$ 5,565	$ 2,955
Percentage of current and total assets and total liabilities counted for by equity method investments				3.00%
Equity method investments				$ 2,072
Parkdale America LLC [Member]
Schedule Of Equity Method Investments [Line Items]
Equity method investment, ownership percentage			34.00%	34.00%
Equity method investment, other than temporary impairment		$ 45,194	$ 45,194
Proceeds from sale of equity method investments	$ 60,000
Number of manufacturing facilities			10
Parkdale America LLC [Member] \| Sales Revenue, Goods, Net [Member] \| Customer Concentration Risk [Member]
Schedule Of Equity Method Investments [Line Items]
Number of major customers			5
Parkdale America LLC [Member] \| Sales Revenue, Goods, Net [Member] \| Customer Concentration Risk [Member] \| Five Largest Customers [Member]
Schedule Of Equity Method Investments [Line Items]
Concentration risk, percentage			69.00%
Parkdale America LLC [Member] \| Accounts Receivable [Member] \| Customer Concentration Risk [Member] \| Five Largest Customers [Member]
Schedule Of Equity Method Investments [Line Items]
Concentration risk, percentage			68.00%

Other Non-Current Assets - Schedule of Raw Material Purchases under Supply Agreement (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2022	Jun. 27, 2021	Jun. 28, 2020
UNF [Member]
Schedule Of Equity Method Investments [Line Items]
Raw material purchases under supply agreement	$ 1,175	$ 548	$ 1,450
UNF America [Member]
Schedule Of Equity Method Investments [Line Items]
Raw material purchases under supply agreement	29,637	18,932	14,583
UNF and UNF America [Member]
Schedule Of Equity Method Investments [Line Items]
Raw material purchases under supply agreement	$ 30,812	$ 19,480	$ 16,033

Other Non-Current Assets - Schedule of Unaudited, Condensed Balance Sheet Information for Unconsolidated Affiliates (Details) - USD ($) $ in Thousands	Jul. 03, 2022	Jun. 27, 2021	Jun. 28, 2020	Jun. 30, 2019
Schedule Of Equity Method Investments [Line Items]
Current assets	$ 352,266	$ 329,067
Current liabilities	108,792	105,423
Shareholders’ equity and capital accounts	361,449	358,419	$ 316,155	$ 392,845
Equity Method Investment, Nonconsolidated Investee or Group of Investees [Member]
Schedule Of Equity Method Investments [Line Items]
Current assets	10,705	7,931
Non-current assets	605	659
Current liabilities	8,056	3,967
Shareholders’ equity and capital accounts	3,254	4,623
UNIFI’s portion of undistributed earnings	$ 2,013	$ 2,100

Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

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Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.

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Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

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Schedule Of Equity Method Investments [Line Items]

Other Non-Current Assets - Schedule of Unaudited, Condensed Income Statement Information for Unconsolidated Affiliates (Details) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Jul. 03, 2022

^[1]

Mar. 27, 2022

^[1]

Dec. 26, 2021

^[1]

Sep. 26, 2021

^[1]

Jun. 27, 2021

^[2]

Mar. 28, 2021

^[2]

Dec. 27, 2020

^[2]

Sep. 27, 2020

^[2]

Jul. 03, 2022

Jun. 27, 2021

Jun. 28, 2020

$ 815,758

$ 667,592

$ 606,509

$ 18,354

$ 19,144

$ 16,890

$ 26,097

$ 27,404

$ 25,595

$ 25,934

$ 14,561

80,485

93,494

$ 39,040

Equity Method Investment, Nonconsolidated Investee or Group of Investees [Member]

15,171

29,073

(57,237)

Distributions received

750

10,437

Schedule Of Equity Method Investments [Line Items]

31,745

19,649

561,074

(Loss) income from operations

1,928

3,423

9,648

148

1,777

(7,074)

Depreciation and amortization

127

1,782

(2,326)

121

151

33,590

Cash received by PAL under cotton rebate program

11,186

Earnings recognized by PAL for cotton rebate program

9,697

Distributions received

$ 750

10,437

Equity Method Investment, Nonconsolidated Investee or Group of Investees [Member] | Parkdale America LLC [Member]

Schedule Of Equity Method Investments [Line Items]

544,006

(Loss) income from operations

7,592

(7,484)

Depreciation and amortization

(2,823)

33,455

Cash received by PAL under cotton rebate program

11,186

Earnings recognized by PAL for cotton rebate program

9,697

Distributions received

10,437

Equity Method Investment, Nonconsolidated Investee or Group of Investees [Member] | UNF and UNF America [Member]

Schedule Of Equity Method Investments [Line Items]

17,068

(Loss) income from operations

2,056

410

Depreciation and amortization

497

$ 135

[1]

Gross profit for our domestic operations for all fiscal quarters of fiscal 2022 includes adverse pressures from (i) higher raw material costs, (ii) rising input costs, and (iii) the weakening of labor productivity.

[2]

Other Current Liabilities - Schedule of Other Current Liabilities (Details) - USD ($) $ in Thousands	Jul. 03, 2022	Jun. 27, 2021
Other Liabilities Current [Abstract]
Payroll and fringe benefits	$ 9,414	$ 10,204
Incentive compensation	3,916	12,356
Utilities	2,287	2,347
Deferred revenue	1,694	2,691
Interest rate swaps		1,234
Property taxes and other	2,495	2,806
Total other current liabilities	$ 19,806	$ 31,638

Long-Term Debt - Long-Term Debt Components (Details) - USD ($)
$ in Thousands

12 Months Ended

Jul. 03, 2022

Jun. 27, 2021

^[1]

$ 7,261

$ 8,475

Current portion of finance lease obligations

^[2]

729

882

Total debt

114,290

86,857

(1,726)

(3,545)

Unamortized debt issuance costs

(255)

(476)

Total long-term debt

$ 102,309

70,336

Finance Lease Obligations [Member]

Construction Financing [Member]

^[1]

3.60%

^[2]

1.90%

$ 729

ABL Revolver [Member]

Debt Instrument, Maturity Date

2023-12

3.20%

Long-term Debt

$ 41,300

ABL Term Loan [Member]

Debt Instrument, Maturity Date

2023-12

Current ABL Term Loan

$ (10,000)

(12,500)

Outstanding balances of term loan

3.20%

$ 65,000

$ 77,500

[1]	Scheduled maturity dates for finance lease obligations range from March 2025 to November 2027
[2]	Refer to the discussion below under the subheading “Construction Financing” for further information.

Long-Term Debt - Long-Term Debt Components (Details) (Parenthetical)	12 Months Ended
	Jul. 03, 2022
Debt Disclosure [Abstract]
Finance lease obligations, scheduled maturity start date	2025-03
Finance lease obligations, scheduled maturity end date	2027-11

Long-Term Debt - Additional Information (Details)

1 Months Ended

12 Months Ended

Feb. 05, 2021

USD ($)

May 15, 2020

USD ($)

Apr. 29, 2020

USD ($)

Dec. 18, 2018

USD ($)

Dec. 17, 2018

May 31, 2021

Payment

Jul. 03, 2022

USD ($)

Jun. 27, 2021

USD ($)

Jun. 28, 2020

USD ($)

Variable rate borrowings amount

$ 75,000,000

Lease expiration range end date

2,493,000

$ 740,000

$ 6,301,000

Lease expiration date

Jun. 30, 2025

Mar. 31, 2025

Lease expiration range end date

Nov. 30, 2026

Finance lease discount rate

3.80%

Construction Financing [Member]

^[1]

729,000

$ 882,000

Monthly payment | Payment

Interest rate during period

4.40%

Long term debt including transitioned amount

729,000

3,222,000

Completed asset cost transferred to finance lease obligation

2,493,000

Swap A [Member]

Derivative notional amount

20,000,000

Swap B [Member]

Derivative notional amount

30,000,000

Swap C [Member]

Derivative notional amount

$ 25,000,000

Minimum [Member]

Line of credit facility, unused capacity, commitment fee percentage

0.25%

Finance lease discount rate

$ 3,000.0

3.10%

Maximum [Member]

Finance lease discount rate

$ 4,400

3.50%

Parkdale America LLC [Member]

Equity method investment, ownership percentage

34.00%

Proceeds from sale of equity method investments

$ 60,000,000

LIBOR [Member]

Derivative, average fixed interest rate

1.90%

SOFR [Member] | Construction Financing [Member]

1.25%

ABL Facility [Member]

Foreign capital stock, maximum voting stock of first tier foreign subsidiaries

65.00%

Fixed charge coverage ratio

(0.24)

ABL Facility [Member] | Parkdale America LLC [Member]

Equity method investment, ownership percentage

34.00%

Proceeds from sale of equity method investments

$ 60,000,000

ABL Revolver [Member] | Base Rate [Member] | Minimum [Member]

ABL Revolver [Member] | Base Rate [Member] | Maximum [Member]

0.25%

ABL Revolver [Member] | LIBOR [Member] | Minimum [Member]

0.75%

ABL Revolver [Member] | LIBOR [Member] | Maximum [Member]

1.25%

Revolving Credit Facility [Member] | ABL Facility [Member]

1.75%

Line of credit facility, remaining borrowing capacity

$ 51,409,000

Standby Letters of Credit [Member]

Line of credit facility, current borrowing capacity

$ 0

Credit Agreement [Member]

Debt agreement maximum borrowing capacity

$ 200,000,000

Outstanding balances of term loan

$ 100,000,000

Debt instrument maturity date

Dec. 18, 2023

Principal amount of term loan

$ 100,000,000

Annual interest rate added to federal funds rate

0.50%

Annual interest rate added to LIBOR rate

1.00%

Credit Agreement [Member] | ABL Facility [Member]

Debt instrument maturity date

Dec. 18, 2023

Mar. 26, 2020

Minimum monthly fixed charge coverage ratio covenant

1.05

Credit Agreement [Member] | ABL Facility [Member] | Base Rate [Member]

Decrease in the applicable margin rate percentage

0.25%

Credit Agreement [Member] | Revolving Credit Facility [Member]

Line of credit facility, maximum borrowing capacity

$ 100,000,000

Credit Agreement [Member] | Revolving Credit Facility [Member] | ABL Facility [Member] | Trigger Level [Member]

Line of credit facility, remaining borrowing capacity

$ 20,625,000

Fifth Amendment [Member]

Payments for repurchase stock

$ 5,000,000

[1]	Refer to the discussion below under the subheading “Construction Financing” for further information.

Long-Term Debt - Scheduled Maturities of Outstanding Debt Obligations (Details)
$ in Thousands

Jul. 03, 2022

USD ($)

Finance Lease Obligations [Member]

Fiscal 2023

$ 11,726

^[1]

Fiscal 2024

98,087

^[1]

Fiscal 2025

1,699

^[1]

Fiscal 2026

1,255

^[1]

Fiscal 2027

732

^[1]

Thereafter

^[1]

1,726

1,787

1,699

1,255

732

ABL Revolver [Member]

Fiscal 2024

41,300

ABL Term Loan [Member]

Fiscal 2023

10,000

Fiscal 2024

$ 55,000

[1]	Total reported excludes $729 for construction financing, described above.

Long-Term Debt - Scheduled Maturities of Outstanding Debt Obligations (Details) (Parenthetical) - USD ($)
$ in Thousands

Jul. 03, 2022

Jun. 27, 2021

Construction Financing [Member]

^[1]

$ 729

$ 882

$ 729

[1]	Refer to the discussion below under the subheading “Construction Financing” for further information.

Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

+ References + Details

Other Long-Term Liabilities - Other Long-Term Liabilities Components (Details) - USD ($) $ in Thousands	Jul. 03, 2022	Jun. 27, 2021
Other Liabilities Disclosure [Abstract]
Nonqualified deferred compensation plan obligation	$ 1,982	$ 2,090
Uncertain tax positions	1,575	3,045
Other	892	2,337
Total other long-term liabilities	$ 4,449	$ 7,472

Income Taxes - Components of Income (loss) before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2022	Jun. 27, 2021	Jun. 28, 2020
Income Tax Disclosure [Abstract]
U.S.	$ (18,364)	$ (12,463)	$ (74,905)
Foreign	45,192	58,810	18,640
Income (loss) before income taxes	$ 26,828	$ 46,347	$ (56,265)

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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Income Taxes - Schedule of Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2022	Jun. 27, 2021	Jun. 28, 2020
Current:
Federal	$ (1,163)	$ (577)	$ 282
State	2	25	(118)
Foreign	15,935	12,739	4,819
Total current tax expense	14,774	12,187	4,983
Deferred:
Federal	(630)	(1,564)	(3,783)
State	33	131	116
Foreign	(2,520)	6,520	(344)
Total deferred tax expense	(3,117)	5,087	(4,011)
Provision for income taxes	$ 11,657	$ 17,274	$ 972

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2022	Jun. 27, 2021	Jun. 28, 2020
Income Taxes [Line Items]
Tax benefit		$ 4,816
Capital loss carryforwards	$ 16,318	17,429
Net operating loss carryforwards beginning expiration year	2023
U.S federal research tax credit carryforwards	$ 5,284
U.S. federal research tax credit carryforwards expiration year	2039
Amount of Unrecognized Deferred Tax Liability	$ 6,046
Capital Loss Carryforward
Income Taxes [Line Items]
Capital loss carryforwards	71,105
U.S. Federal NOL [Member]
Income Taxes [Line Items]
U.S federal net operating loss carryforwards	$ 16,731
U.S. Federal Foreign Tax Credits [Member]
Income Taxes [Line Items]
Net operating loss carryforwards beginning expiration year	2023
U.S federal net operating loss carry a full valuation allowance	$ 3,075
Foreign Tax Credits [Member]
Income Taxes [Line Items]
U.S federal net operating loss carry a full valuation allowance	3,170
Earliest Tax Year [Member]
Income Taxes [Line Items]
State deferred tax expense component, utilization of net operating loss carryforwards	25	167	$ 20
Foreign deferred tax expense component, utilization of net operating loss carryforwards	32	441	702
Valuation allowance, deferred tax asset, increase (decrease), amount	(5,313)	(459)	11,419
Unrecognized tax benefits that would impact effective tax rate	4,746
Unrecognized tax benefits, income tax penalties and interest expense	287	141	69
Unrecognized tax benefits, income tax penalties and interest accrued	559	273
Unremitted foreign earnings	26,253
U.S. Federal [Member]
Income Taxes [Line Items]
Net operating loss	110	$ 5,312	$ 89
U.S. Federal [Member] \| Earliest Tax Year [Member]
Income Taxes [Line Items]
Open tax year			2017
Net Operating Loss Held Outside U.S Consolidated Tax Filing Group [Member]
Income Taxes [Line Items]
U.S state net operating loss carryforwards	$ 14,421
Net operating loss carryforwards beginning expiration year	2023
Net Operating Loss Held Outside U.S Consolidated Tax Filing Group [Member] \| U.S. Federal NOL [Member]
Income Taxes [Line Items]
U.S federal net operating loss carryforwards	$ 2,340
Foreign Net Operating Loss Carry Forwards [Member]
Income Taxes [Line Items]
U.S federal net operating loss carry a full valuation allowance	$ 395
State and Local Jurisdiction [Member] \| Earliest Tax Year [Member] \| North Carolina Department of Revenue [Member]
Income Taxes [Line Items]
Open tax year			2017
State and Local Jurisdiction [Member] \| Latest Tax Year [Member] \| North Carolina Department of Revenue [Member]
Income Taxes [Line Items]
Open tax year			2019

Income Taxes - Reconciliation from Federal Statutory Tax Rate to Effective Tax Rate (Details)	12 Months Ended
	Jul. 03, 2022	Jun. 27, 2021	Jun. 28, 2020
Effective Income Tax Rate Continuing Operations Tax Rate Reconciliation [Abstract]
Federal statutory tax rate	21.00%	21.00%	21.00%
Change in valuation allowance	12.60%	5.00%	0.60%
Foreign income taxed at different rates	10.70%	9.00%	(1.20%)
Tax expense on unremitted foreign earnings	5.50%	7.00%	(0.90%)
Repatriation of foreign earnings and withholding taxes	3.90%	1.80%	(2.00%)
Change in uncertain tax positions	2.40%	0.50%	(0.30%)
Nondeductible compensation	2.10%	1.40%	(0.80%)
U.S. tax on GILTI	0.20%	3.90%	(5.00%)
Nontaxable income	(10.20%)	(2.40%)	1.10%
Research and other business credits	(4.00%)	(3.70%)	2.00%
State income taxes, net of federal tax benefit	(1.30%)	(0.20%)	2.60%
Foreign tax credits	(0.50%)	(5.40%)	0.90%
Deemed repatriation of foreign earnings under Subpart F		1.50%
Domestic production activities deduction		0.60%
Rate benefit of U.S. federal NOL carryback		(2.80%)
Valuation allowance related to loss on sale of investment in PAL			(19.30%)
Nondeductible expenses and other	1.10%	0.10%	(0.40%)
Effective tax rate	43.50%	37.30%	(1.70%)

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Jul. 03, 2022	Jun. 27, 2021	Jun. 28, 2020
Components Of Deferred Tax Assets And Liabilities [Abstract]
Capital loss carryforwards	$ 16,318	$ 17,429
Tax credits	12,079	18,711
Research and development costs	7,409	6,934
NOL carryforwards	6,603	3,043
Accrued compensation	2,106	4,056
Other items	4,877	4,815
Total gross deferred tax assets	49,392	54,988
Valuation allowance	(31,667)	(36,980)	$ (37,439)
Net deferred tax assets	17,725	18,008
PP&E	(14,952)	(16,045)
Unremitted earnings	(5,253)	(3,769)
Recovery of non-income taxes	132	(3,664)
Other	(138)	(8)
Total deferred tax liabilities	(20,211)	(23,486)
Net deferred tax liabilities	$ (2,486)	$ (5,478)

Income Taxes - Schedule of Components of Deferred Tax Valuation Allowance (Details) - USD ($) $ in Thousands	Jul. 03, 2022	Jun. 27, 2021	Jun. 28, 2020
Valuation Allowance [Line Items]
Deferred tax valuation allowance	$ (31,667)	$ (36,980)	$ (37,439)
Capital Loss Carryforward
Valuation Allowance [Line Items]
Deferred tax valuation allowance	(16,318)	(17,429)	(13,791)
Tax Credit [Member]
Valuation Allowance [Line Items]
Deferred tax valuation allowance	(10,779)	(17,215)	(17,111)
NOL Carryforwards [Member]
Valuation Allowance [Line Items]
Deferred tax valuation allowance	$ (4,570)	$ (2,336)	(2,542)
Investments, Including Unconsolidated Affiliates [Member]
Valuation Allowance [Line Items]
Deferred tax valuation allowance			$ (3,995)

Income Taxes - Reconciliation of Beginning and Ending Gross Amounts of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2022	Jun. 27, 2021	Jun. 28, 2020
Income Tax Uncertainties [Abstract]
Balance at beginning of year	$ 2,590	$ 1,218	$ 1,083
Gross increases (decreases) related to current period tax positions	408	(24)	98
Gross (decreases) increases related to tax positions in prior periods	(89)	1,396	37
Balance at end of year	$ 2,909	$ 2,590	$ 1,218

Shareholders' Equity - Additional Information (Details) - USD ($)	12 Months Ended
	Jul. 03, 2022	Jun. 27, 2021	Jun. 28, 2020	Oct. 31, 2018
Equity Class Of Treasury Stock [Line Items]
Payments of Dividends	$ 0	$ 0	$ 0
2018 Share Repurchase Program [Member]
Equity Class Of Treasury Stock [Line Items]
Share Repurchase Program, Authorized Amount				$ 50,000,000
Share Repurchase Program, Remaining Authorized Repurchase Amount	$ 38,859,000

Shareholders' Equity - Repurchases and Retirements of Common Stock (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Jul. 03, 2022 USD ($) $ / shares shares
Stockholders Equity [Line Items]
Total Number of Shares Repurchased as Part of Publicly Announced Plans or Programs \| shares	701
Average Price Paid per Share \| $ / shares	$ 15.90
Approximate Dollar Value that May Yet Be Repurchased Under Publicly Announced Plans or Programs	$ 38,859
Fiscal 2019 [Member]
Stockholders Equity [Line Items]
Approximate Dollar Value that May Yet Be Repurchased Under Publicly Announced Plans or Programs	$ 50,000
Fiscal 2020 [Member]
Stockholders Equity [Line Items]
Total Number of Shares Repurchased as Part of Publicly Announced Plans or Programs \| shares	84
Average Price Paid per Share \| $ / shares	$ 23.72
Approximate Dollar Value that May Yet Be Repurchased Under Publicly Announced Plans or Programs	$ 48,008
Fiscal 2021 [Member]
Stockholders Equity [Line Items]
Approximate Dollar Value that May Yet Be Repurchased Under Publicly Announced Plans or Programs	$ 48,008
Fiscal 2022 [Member]
Stockholders Equity [Line Items]
Total Number of Shares Repurchased as Part of Publicly Announced Plans or Programs \| shares	617
Average Price Paid per Share \| $ / shares	$ 14.84
Approximate Dollar Value that May Yet Be Repurchased Under Publicly Announced Plans or Programs	$ 38,859

Stock-Based Compensation - Additional Information (Details) $ / shares in Units, $ in Thousands		12 Months Ended
	May 01, 2020 USD ($) d $ / shares shares	Jul. 03, 2022 USD ($) $ / shares shares	Jun. 27, 2021 USD ($) $ / shares shares	Jun. 28, 2020 USD ($) $ / shares shares	Oct. 24, 2018 shares	Oct. 23, 2013 shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Employee service share-based compensation, non vested awards, compensation cost not yet recognized \| $		$ 2,538
Employee service share-based compensation, non vested awards, compensation cost not yet recognized, period for recognition		1 year 7 months 6 days
Employee service share-based compensation, tax benefit realized from exercise of stock options \| $		$ 386	$ 297	$ 178
Share-based compensation arrangement by share-based payment award, options, grants in period, gross		5,000	4,000	4,000
Share-based compensation arrangement by share-based payment award, compensation expense \| $		$ 110	$ 75	$ 100
Common Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Price attainment for consecutive trading days for vesting \| d	10
Stock Options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, expiration period	10 years
Share-based compensation arrangements by share-based payment award, options, grants in period, weighted average exercise price \| $ / shares	$ 11.74
Stock Options [Member] \| Share Based Compensation Award Vested One
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share based compensation arrangement by share-based payment award, options, vested, number of shares	100
Grant date fair value \| $ / shares	$ 4.83
Stock Options [Member] \| Share Based Compensation Award Vested Two
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, expiration period	3 years
Share based compensation arrangement by share-based payment award, options, vested, number of shares	100
Grant date fair value \| $ / shares	$ 4.83
Stock Options [Member] \| Common Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, options, grants in period, gross	533,000
Stock Options [Member] \| Common Stock [Member] \| Share Based Compensation Award Vested One
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share based compensation arrangement by share-based payment award, options, vested, number of shares	100
Grant date fair value \| $ / shares	$ 2.70
Stock Options [Member] \| Common Stock [Member] \| Share Based Compensation Award Vested One \| Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, expiration period	4 years
Share based compensation arrangement by share based payment award options vested price attainment \| $	$ 40
Stock Options [Member] \| Common Stock [Member] \| Share Based Compensation Award Vested One \| Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, expiration period	5 years
Share based compensation arrangement by share based payment award options vested price attainment \| $	$ 50
Stock Options [Member] \| Common Stock [Member] \| Share Based Compensation Award Vested Two
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, expiration period	5 years
Share based compensation arrangement by share-based payment award, options, vested, number of shares	233
Grant date fair value \| $ / shares	$ 2.33
Share based compensation arrangement by share based payment award options vested price attainment \| $	$ 50
Stock Options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Employee service share-based compensation, non vested awards, compensation cost not yet recognized \| $		$ 904
Employee service share-based compensation, non vested awards, compensation cost not yet recognized, period for recognition		1 year 8 months 12 days
Share-based compensation arrangement by share-based payment award, options, exercises in period, intrinsic value \| $		$ 60	85	147
Proceeds from stock options exercised \| $		28	0	29
Employee service share-based compensation, tax benefit realized from exercise of stock options \| $		$ 8	$ 11	$ 20
RSUs Issued to Key Employees [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period		80,000	73,000	127,000
Service Period (years)		3 years
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period, weighted average grant date fair value \| $ / shares		$ 23.45	$ 15.65	$ 19.74
VSUs Issued to Non-Employee Directors [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period		32,000	37,000	24,000
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period, weighted average grant date fair value \| $ / shares		$ 22.03	$ 15.91	$ 27.15
PSUs Issued to Key Employees [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period		53,000
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period, weighted average grant date fair value \| $ / shares		$ 23.27
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period not expected to vest		53,000
PSUs Issued to Key Employees [Member] \| Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, vesting percentage		50.00%
PSUs Issued to Key Employees [Member] \| Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, vesting percentage		200.00%
Restricted Stock Units R S U Vested Share Units V S U And Performance Share Units P S U
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, equity instruments other than options, vested and expected to vest, number		426,000
Share-based compensation arrangement by share-based payment award, equity instruments other than options, aggregate intrinsic value, outstanding \| $		$ 5,972
Share-based compensation arrangement by share-based payment award, equity instruments other than options, vested, number		245,000
Share-based compensation arrangement by share-based payment award, equity instruments other than options, aggregate intrinsic value, vested \| $		$ 3,434
Share-based compensation arrangement by share-based payment award, equity instruments other than options, converted in period, aggregate intrinsic value \| $		1,715	$ 1,216	$ 1,708
Employee service share-based compensation, tax benefit realized from exercise of stock options \| $		260	$ 159	$ 206
Restricted Stock Units (RSUs) and Performance Share Units (PSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Employee service share-based compensation, non vested awards, compensation cost not yet recognized \| $		$ 1,634
Employee service share-based compensation, non vested awards, compensation cost not yet recognized, period for recognition		1 year 7 months 6 days
The 2013 Incentive Compensation Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, Number of shares authorized						1,000,000
Expiration date		Oct. 24, 2018
The Amended and Restated 2013 Incentive Compensation Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for future issuance					1,250,000
2020 Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, Number of shares authorized		850,000
Number of shares available for future issuance		601,000
Inception date		Oct. 29, 2020

Stock-Based Compensation - Summary of Number of Securities Remaining Available for Future Issuance (Details) - shares shares in Thousands	12 Months Ended
	Jul. 03, 2022	Jun. 27, 2021	Jun. 28, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Less: Awards granted to employees	(5)	(4)	(4)
2020 Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Authorized under the 2020 Plan	850
Available for issuance under the 2020 Plan	601
2020 Plan [Member] \| Awards Expired, Forfeited or Otherwise Terminated Unexercised [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Plus: Awards expired, forfeited or otherwise terminated unexercised	1
2020 Plan [Member] \| Awards Granted to Employees [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Less: Awards granted to employees	(209)
2020 Plan [Member] \| Awards Granted to Non-Employee Directors [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Less: Awards granted to non-employee directors	(41)

Stock-Based Compensation - Stock Option Valuation Assumptions (Details) - $ / shares	12 Months Ended
	Jul. 03, 2022	Jun. 27, 2021	Jun. 28, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (years)		5 years 6 months	5 years 6 months
Risk-free interest rate		0.40%	0.70%
Volatility		49.00%	43.20%
Dividend yield	0.00%	0.00%	0.00%
Black Scholes Model
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Quantity		155	143
Service Period (years)		3 years	3 years
Weighted Average Exercise Price		$ 15.64	$ 19.95
Weighted Average Grant Date Fair Value		$ 6.75	$ 7.33

Stock-Based Compensation - Summary of Stock Option Activity (Details) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Jul. 03, 2022 USD ($) $ / shares shares
Employee Service Share Based Compensation Aggregate Disclosures [Abstract]
Stock Options, Outstanding at June 27, 2021 \| shares	1,114
Stock Options, Exercised \| shares	(10)
Stock Options, Cancelled or forfeited \| shares	(122)
Stock Options, Outstanding at July 3, 2022 \| shares	982
Stock Options, Vested and expected to vest as of July 3, 2022 \| shares	982
Stock Options, Exercisable at July 3, 2022 \| shares	380
Weighted Average Exercise Price, Outstanding at June 27, 2021 \| $ / shares	$ 16.82
Weighted Average Exercise Price, Exercised \| $ / shares	11.09
Weighted Average Exercise Price, Cancelled or forfeited \| $ / shares	25.45
Weighted Average Exercise Price, Outstanding at July 3, 2022 \| $ / shares	15.81
Weighted Average Exercise Price, Vested and expected to vest as of July 3, 2022 \| $ / shares	15.81
Weighted Average Exercise Price, Exercisable at July 3, 2022 \| $ / shares	$ 20.15
Weighted Average Remaining Contractual Life (Years), Outstanding at July 3, 2022	7 years 2 months 12 days
Weighted Average Remaining Contractual Life (Years), Vested and expected to vest as of July 3, 2022	7 years 2 months 12 days
Weighted Average Remaining Contractual Life (Years), Exercisable at July 3, 2022	6 years 1 month 6 days
Aggregate Intrinsic Value, Outstanding at July 3, 2022 \| $	$ 1,296
Aggregate Intrinsic Value, Vested and expected to vest as of July 3, 2022 \| $	1,296
Aggregate Intrinsic Value, Exercisable at July 3, 2022 \| $	$ 285

Stock-Based Compensation - Summary of RSU, VSU and PSU Activity (Details) - Restricted Stock Units R S U Vested Share Units V S U And Performance Share Units P S U shares in Thousands	12 Months Ended
	Jul. 03, 2022 $ / shares shares
Nonvested [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding (in shares)	162
Granted (in shares)	166
Vested (in shares)	(92)
Cancelled or forfeited (in shares)	(2)
Outstanding (in shares)	234
Outstanding (in dollars per share) \| $ / shares	$ 16.75
Granted (in dollars per share) \| $ / shares	23.12
Vested (in dollars per share) \| $ / shares	18.78
Cancelled or forfeited (in dollars per share) \| $ / shares	20.39
Outstanding (in dollars per share) \| $ / shares	$ 20.38
Vested [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding (in shares)	241
Vested (in shares)	92
Converted (in shares)	(88)
Outstanding (in shares)	245
Total Nonvested and Vested [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding (in shares)	403
Granted (in shares)	166
Converted (in shares)	(88)
Cancelled or forfeited (in shares)	(2)
Outstanding (in shares)	479
Outstanding (in dollars per share) \| $ / shares	$ 20.82
Granted (in dollars per share) \| $ / shares	23.12
Vested (in dollars per share) \| $ / shares	18.78
Converted (in dollars per share) \| $ / shares	19.80
Cancelled or forfeited (in dollars per share) \| $ / shares	20.39
Outstanding (in dollars per share) \| $ / shares	$ 21.80

Stock-Based Compensation - Stock Based Compensation Total Cost Charged Against Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2022	Jun. 27, 2021	Jun. 28, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation cost	$ 3,181	$ 3,062	$ 3,510
Stock options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation cost	928	1,047	1,265
RSUs and VSUs [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation cost	$ 2,253	$ 2,015	$ 2,245

Defined Contribution Plans - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2022	Jun. 27, 2021
Defined Contribution Plan Disclosure [Line Items]
Total DCP obligation	$ 2,359
Predecessor SERP		$ 3,177
Contribution for the First 3% [Member] \| Retirement Savings Plan [Member]
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plan, employer matching contribution percentage	100.00%
Defined contribution plan, employer matching contribution, percent of employees' gross pay	3.00%
Contribution for the Next 2% [Member] \| Retirement Savings Plan [Member]
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plan, employer matching contribution percentage	50.00%
Defined contribution plan, employer matching contribution, percent of employees' gross pay	2.00%

Defined Contribution Plans - Schedule of Employer Matching Contribution Expense Related to 401(k) Plan (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2022	Jun. 27, 2021	Jun. 28, 2020
Compensation And Retirement Disclosure [Abstract]
Matching contribution expense	$ 3,215	$ 2,578	$ 2,491

Fair Value of Financial Instruments and Non-Financial Assets and Liabilities - Additional Information (Details) - USD ($)	12 Months Ended
	Jul. 03, 2022	Jun. 27, 2021	Jun. 28, 2020
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investment assets held by the trust	$ 2,196,000	$ 0
Losses on investments held by the trust	48,000
Non-financial assets or liabilities of fair value recurring or non-recurring basis	$ 0
LIBOR [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative, average fixed interest rate	1.90%
Swaps A, B and C [Member] \| Designated Hedges [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative notional amount	$ 75,000,000
Increase (decrease) in interest expense	$ 1,190,000	$ 1,347,000	$ 270,000
Swaps A, B and C [Member] \| Designated Hedges [Member] \| LIBOR [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative, average fixed interest rate	1.90%

Fair Value of Financial Instruments and Non-Financial Assets and Liabilities - Schedule of Fair Value Attributes for the Historical Swaps (Details) - Other Long-term Liabilities [Member] - Fair Value, Inputs, Level 2 $ in Thousands	Jun. 27, 2021 USD ($)
Interest Rate Swap A
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Notional Amount	$ 20,000
Fair Value	334
Interest Rate Swap B
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Notional Amount	30,000
Fair Value	500
Interest Rate Swap C
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Notional Amount	25,000
Fair Value	$ 400

Accumulated Other Comprehensive Loss - Schedule of Changes in Accumulated Other Comprehensive Loss, Net of Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2022	Jun. 27, 2021	Jun. 28, 2020
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	$ (53,432)	$ (63,806)	$ (43,229)
Other comprehensive (loss) income, net of tax	(6,173)	10,374	(20,577)
Ending balance	(59,605)	(53,432)	(63,806)
Foreign Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	(52,480)	(61,848)	(42,729)
Other comprehensive (loss) income, net of tax	(7,125)	9,368	(19,119)
Ending balance	(59,605)	(52,480)	(61,848)
Changes in Interest Rate Swaps [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	(952)	(1,958)	(500)
Other comprehensive (loss) income, net of tax	$ 952	1,006	(1,458)
Ending balance		$ (952)	$ (1,958)

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References + Details

Amount after tax and reclassification adjustments of other comprehensive income (loss).

Accumulated Other Comprehensive Loss - Summary of Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2022	Jun. 27, 2021	Jun. 28, 2020
Other comprehensive (loss) income:
Foreign currency translation adjustments, Pre-tax	$ (7,125)	$ 9,368	$ (21,027)
Changes in interest rate swaps, net of reclassification adjustments, Pre-tax	1,234	1,316	(1,904)
Other comprehensive (loss) income, net	(5,891)	10,684	(21,023)
Changes in interest rate swaps, net of reclassification adjustments, Tax	(282)	(310)	446
Other comprehensive (loss) income, net	(282)	(310)	446
Foreign currency translation adjustments	(7,125)	9,368	(21,027)
Changes in interest rate swaps, net of reclassification adjustments, After-tax	952	1,006	(1,458)
Other comprehensive (loss) income, net	$ (6,173)	$ 10,374	(20,577)
Unconsolidated Affiliates [Member]
Other comprehensive (loss) income:
Foreign currency translation adjustments, Pre-tax			1,908
Foreign currency translation adjustments			$ 1,908

Computation of Earnings Per Share - Computation of Basic and Diluted Earnings (Loss) Per Share (Details) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

12 Months Ended

Jul. 03, 2022

Mar. 27, 2022

Dec. 26, 2021

Sep. 26, 2021

Jun. 27, 2021

Mar. 28, 2021

Dec. 27, 2020

Sep. 27, 2020

Jul. 03, 2022

Jun. 27, 2021

Jun. 28, 2020

Earnings Per Share [Abstract]

Weighted average common shares outstanding (in shares)

$ 3,496

^[1]

$ 2,066

^[1]

$ 929

^[1]

$ 8,680

^[1]

$ 13,419

^[2]

$ 4,758

^[2]

$ 7,464

^[2]

$ 3,432

^[2]

$ 15,171

$ 29,073

$ (57,237)

18,429,000

18,472,000

18,475,000

Basic

$ 0.19

^[3]

$ 0.11

^[3]

$ 0.05

^[3]

$ 0.47

^[3]

$ 0.73

^[3]

$ 0.26

^[3]

$ 0.40

^[3]

$ 0.19

^[3]

$ 0.82

$ 1.57

$ (3.10)

Net potential common share equivalents

439,000

384,000

Adjusted weighted average common shares outstanding (in shares)

18,868,000

18,856,000

18,475,000

Diluted

$ 0.19

^[3]

$ 0.11

^[3]

$ 0.05

^[3]

$ 0.46

^[3]

$ 0.70

^[3]

$ 0.25

^[3]

$ 0.40

^[3]

$ 0.18

^[3]

$ 0.80

$ 1.54

$ (3.10)

Excluded from the calculation of common share equivalents:

Anti-dilutive common share equivalents (in shares)

225,000

497,000

401,000

Unvested stock options that vest upon achievement of certain market conditions (in shares)

333,000

[1]	Net income for our domestic operations for all fiscal quarters of fiscal 2022 includes the adverse pressures on gross profit.
[2]	Net income for the fiscal quarter ended September 27, 2020 includes adverse demand pressures from the COVID-19 pandemic. Net income for the fiscal quarter ended June 27, 2021 includes a recovery of non-income taxes in Brazil due to the favorable conclusion of litigation related to excess social program taxes for multiple prior years.
[3]	Income per share is computed independently for each of the periods presented. The sum of the income per share amounts for the fiscal quarters may not equal the total for the fiscal year.

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Thousands	Apr. 10, 2019	Sep. 30, 2004
Commitments And Contingencies Disclosure [Abstract]
The term of a former ground lease		99 years
Net monitoring and reporting costs received	$ 180

Commitments and Contingencies - Schedule of Unconditional Purchase Obligations (Details) $ in Thousands	Jul. 03, 2022 USD ($)
Unrecorded Unconditional Purchase Obligation [Line Items]
Fiscal 2023	$ 8,270
Fiscal 2024	5,516
Fiscal 2025	5,336
Fiscal 2026	2,714
Fiscal 2027	2,752
Thereafter	194
Purchase Obligations [Member]
Unrecorded Unconditional Purchase Obligation [Line Items]
Fiscal 2023	6,359
Fiscal 2024	5,238
Fiscal 2025	5,067
Fiscal 2026	2,445
Fiscal 2027	2,445
Service Obligations [Member]
Unrecorded Unconditional Purchase Obligation [Line Items]
Fiscal 2023	1,911
Fiscal 2024	278
Fiscal 2025	269
Fiscal 2026	269
Fiscal 2027	307
Thereafter	$ 194

Commitments and Contingencies - Schedule of Costs Incurred Under Purchases and Services Obligations (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2022	Jun. 27, 2021	Jun. 28, 2020
Commitments And Contingencies Disclosure [Abstract]
Costs for unconditional purchase obligations	$ 24,236	$ 22,689	$ 21,483
Costs for unconditional service obligations	912	967	2,082
Total	$ 25,148	$ 23,656	$ 23,565

Related Party Transactions - Additional Information (Details) - USD ($)	Jul. 03, 2022	Jun. 27, 2021
Related Party Transactions [Abstract]
Related party receivables	$ 0	$ 0

Related Party Transactions - Related Party Receivables and Payables (Details) - USD ($)
$ in Thousands

Jul. 03, 2022

Jun. 27, 2021

Operating lease obligations

$ 8,926

Salem Leasing Corporation

^[1]

7,261

$ 8,475

Accounts payable, related parties

432

469

Operating lease obligations

811

1,133

Total related party payables

4,933

6,149

$ 6,176

$ 7,751

[1]	Scheduled maturity dates for finance lease obligations range from March 2025 to November 2027

Carrying amount as of the balance sheet date of obligations due all related parties.

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Related Party Transactions - Schedule of Related Party Transactions (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2022	Jun. 27, 2021	Jun. 28, 2020
Salem Leasing Corporation
Related Party Transaction [Line Items]
Expenses with related party	$ 4,343	$ 4,122	$ 3,798

Business Segment Information - Additional Information (Details)	12 Months Ended
	Jul. 03, 2022 Segment
Segment Reporting [Abstract]
Number of Reportable Segments	3

Business Segment Information - Selected Financial Information for Polyester, Nylon, Brazil, Asia and Other Segments (Details) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Jul. 03, 2022

Mar. 27, 2022

Dec. 26, 2021

Sep. 26, 2021

Jun. 27, 2021

Mar. 28, 2021

Dec. 27, 2020

Sep. 27, 2020

Jul. 03, 2022

Jun. 27, 2021

Jun. 28, 2020

$ 217,576

^[1]

$ 200,780

^[1]

$ 201,410

^[1]

$ 195,992

^[1]

$ 184,445

^[2]

$ 178,866

^[2]

$ 162,776

^[2]

$ 141,505

^[2]

$ 815,758

$ 667,592

$ 606,509

735,273

574,098

567,469

Segment depreciation expense

$ 18,354

^[3]

$ 19,144

^[3]

$ 16,890

^[3]

$ 26,097

^[3]

$ 27,404

^[4]

$ 25,595

^[4]

$ 25,934

^[4]

$ 14,561

^[4]

80,485

93,494

39,040

22,653

22,369

20,659

103,138

115,863

59,699

Americas [Member]

483,085

386,779

380,138

458,617

350,373

368,976

Segment depreciation expense

24,468

36,406

11,162

21,153

21,054

19,274

45,621

57,460

30,436

Brazil [Member]

126,066

95,976

73,339

98,925

64,281

62,144

Segment depreciation expense

27,141

31,695

11,195

1,500

1,315

1,385

28,641

33,010

12,580

Asia [Member]

206,607

184,837

153,032

177,731

159,444

136,349

28,876

25,393

16,683

$ 28,876

$ 25,393

$ 16,683

[1]	The fiscal quarter ending July 3, 2022 included an additional week of sales of approximately $8,700.
[2]	Net sales for the fiscal quarters ended September 27, 2020 and December 27, 2020 includes adverse demand pressures from the COVID-19 pandemic.
[3]	Gross profit for our domestic operations for all fiscal quarters of fiscal 2022 includes adverse pressures from (i) higher raw material costs, (ii) rising input costs, and (iii) the weakening of labor productivity.
[4]	Gross profit for the fiscal quarter ended September 27, 2020 includes adverse demand pressures from the COVID-19 pandemic. Gross profit for the fiscal quarters ended December 27, 2020, March 28, 2021, and June 27, 2021 includes the benefit of exceptional performance by the Brazil Segment primarily due to higher conversion margin and market share capture due to agility and responsiveness during demand recovery in Brazil.

Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.

Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
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-Paragraph 2
-Subparagraph (SX 210.5-03.1,2)
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 32
-Subparagraph (c)
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Business Segment Information - Reconciliations of Segment Gross Profit to Consolidated Income (loss) Before Income Taxes (Details) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Jul. 03, 2022

^[1]

Mar. 27, 2022

^[1]

Dec. 26, 2021

^[1]

Sep. 26, 2021

^[1]

Jun. 27, 2021

^[2]

Mar. 28, 2021

^[2]

Dec. 27, 2020

^[2]

Sep. 27, 2020

^[2]

Jul. 03, 2022

Jun. 27, 2021

Jun. 28, 2020

Selling, general and administrative expenses

$ 18,354

$ 19,144

$ 16,890

$ 26,097

$ 27,404

$ 25,595

$ 25,934

$ 14,561

$ 80,485

$ 93,494

$ 39,040

52,489

51,334

43,814

(Benefit) provision for bad debts

(445)

(1,316)

1,739

Other operating (income) expense, net

(158)

4,865

2,308

Operating income (loss)

28,599

38,611

(8,821)

Interest income

(1,524)

(603)

(722)

Interest expense

3,085

3,323

4,779

Equity in (earnings) loss of unconsolidated affiliates

(605)

(739)

477

Recovery of non-income taxes, net

815

(9,717)

Gain on sale of investment in unconsolidated affiliate

(2,284)

Impairment of investment in unconsolidated affiliate

45,194

Income (loss) before income taxes

26,828

46,347

(56,265)

Americas [Member]

Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]

Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]

24,468

36,406

11,162

Brazil [Member]

Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]

27,141

31,695

11,195

Asia [Member]

$ 28,876

$ 25,393

$ 16,683

[1]

[2]

Business Segment Information - Reconciliation of Segment Depreciation and Amortization Expense to Consolidated Depreciation and Amortization Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2022	Jun. 27, 2021	Jun. 28, 2020
Segment Reporting Other Significant Reconciling Item [Line Items]
Depreciation and amortization expense	$ 26,207	$ 25,528	$ 23,653
Operating Segments [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Depreciation and amortization expense	22,653	22,369	20,659
Operating Segments [Member] \| Americas [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Depreciation and amortization expense	21,153	21,054	19,274
Operating Segments [Member] \| Brazil [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Depreciation and amortization expense	1,500	1,315	1,385
Other Depreciation and Amortization Expense [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Depreciation and amortization expense	$ 3,554	$ 3,159	$ 2,994

Business Segment Information - Reconciliation of Segment Capital Expenditures to Consolidated Capital Expenditures (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2022	Jun. 27, 2021	Jun. 28, 2020
Segment Reporting Other Significant Reconciling Item [Line Items]
Capital expenditures	$ 39,631	$ 21,178	$ 18,509
Operating Segments [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Capital expenditures	39,330	20,180	17,479
Operating Segments [Member] \| Americas [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Capital expenditures	29,841	16,053	15,087
Operating Segments [Member] \| Brazil [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Capital expenditures	9,253	3,461	2,332
Operating Segments [Member] \| Asia [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Capital expenditures	236	666	60
Corporate, Non-Segment [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Capital expenditures	$ 301	$ 998	$ 1,030

Business Segment Information - Reconciliation of Segment Total Assets to Consolidated Total Assets (Details) - USD ($) $ in Thousands	Jul. 03, 2022	Jun. 27, 2021
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	$ 588,718	$ 555,368
Other current assets	18,956	12,364
Property, plant and equipment, net	216,338	201,696
Other operating lease assets	756	1,116
Other non-current assets	8,788	14,625
Investments in unconsolidated affiliates	2,072	2,159
Operating Segments [Member]
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	559,951	481,429
Operating Segments [Member] \| Americas [Member]
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	379,898	327,445
Operating Segments [Member] \| Brazil [Member]
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	98,731	85,950
Operating Segments [Member] \| Asia [Member]
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	81,322	68,034
Corporate, Non-Segment [Member]
Segment Reporting Asset Reconciling Item [Line Items]
Other current assets	5,145	48,587
Property, plant and equipment, net	17,809	21,175
Other non-current assets	2,985	902
Investments in unconsolidated affiliates	$ 2,072	$ 2,159

Business Segment Information - Geographic Information for Net Sales (Details) - USD ($) $ in Thousands	12 Months Ended
	Jul. 03, 2022	Jun. 27, 2021	Jun. 28, 2020
Revenues From External Customers And Long Lived Assets [Line Items]
Geographic net sales	$ 815,758	$ 667,592	$ 606,509
U.S. [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Geographic net sales	430,381	341,897	342,350
BRAZIL [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Geographic net sales	126,066	95,976	73,339
CHINA
Revenues From External Customers And Long Lived Assets [Line Items]
Geographic net sales	185,558	171,261	148,923
All Other Foreign Countries [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Geographic net sales	73,753	58,458	41,897
Export Sales from US Operations [Member] \| U.S. [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Geographic net sales	$ 74,589	$ 59,055	$ 64,305

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

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Business Segment Information - Geographic Information for Long-lived Assets (Details) - USD ($) $ in Thousands	Jul. 03, 2022	Jun. 27, 2021	Jun. 28, 2020
Revenues From External Customers And Long Lived Assets [Line Items]
Long-lived assets	$ 233,955	$ 225,093	$ 217,317
U.S. [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Long-lived assets	196,885	191,733	195,874
BRAZIL [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Long-lived assets	21,927	21,733	10,805
CHINA
Revenues From External Customers And Long Lived Assets [Line Items]
Long-lived assets	2,211	1,919	779
All Other Foreign Countries [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Long-lived assets	$ 12,932	$ 9,708	$ 9,859

Quarterly Results (Unaudited) - Schedule of Quarterly Financial Data (Details) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

12 Months Ended

Jul. 03, 2022

Mar. 27, 2022

Dec. 26, 2021

Sep. 26, 2021

Jun. 27, 2021

Mar. 28, 2021

Dec. 27, 2020

Sep. 27, 2020

Jul. 03, 2022

Jun. 27, 2021

Jun. 28, 2020

Quarterly Financial Data [Abstract]

$ 217,576

^[1]

$ 200,780

^[1]

$ 201,410

^[1]

$ 195,992

^[1]

$ 184,445

^[2]

$ 178,866

^[2]

$ 162,776

^[2]

$ 141,505

^[2]

$ 815,758

$ 667,592

$ 606,509

18,354

^[3]

19,144

^[3]

16,890

^[3]

26,097

^[3]

27,404

^[4]

25,595

^[4]

25,934

^[4]

14,561

^[4]

80,485

93,494

39,040

$ 3,496

^[5]

$ 2,066

^[5]

$ 929

^[5]

$ 8,680

^[5]

$ 13,419

^[6]

$ 4,758

^[6]

$ 7,464

^[6]

$ 3,432

^[6]

$ 15,171

$ 29,073

$ (57,237)

Basic

$ 0.19

^[7]

$ 0.11

^[7]

$ 0.05

^[7]

$ 0.47

^[7]

$ 0.73

^[7]

$ 0.26

^[7]

$ 0.40

^[7]

$ 0.19

^[7]

$ 0.82

$ 1.57

$ (3.10)

Diluted

$ 0.19

^[7]

$ 0.11

^[7]

$ 0.05

^[7]

$ 0.46

^[7]

$ 0.70

^[7]

$ 0.25

^[7]

$ 0.40

^[7]

$ 0.18

^[7]

$ 0.80

$ 1.54

$ (3.10)

[1]	The fiscal quarter ending July 3, 2022 included an additional week of sales of approximately $8,700.
[2]	Net sales for the fiscal quarters ended September 27, 2020 and December 27, 2020 includes adverse demand pressures from the COVID-19 pandemic.
[3]	Gross profit for our domestic operations for all fiscal quarters of fiscal 2022 includes adverse pressures from (i) higher raw material costs, (ii) rising input costs, and (iii) the weakening of labor productivity.
[4]	Gross profit for the fiscal quarter ended September 27, 2020 includes adverse demand pressures from the COVID-19 pandemic. Gross profit for the fiscal quarters ended December 27, 2020, March 28, 2021, and June 27, 2021 includes the benefit of exceptional performance by the Brazil Segment primarily due to higher conversion margin and market share capture due to agility and responsiveness during demand recovery in Brazil.
[5]	Net income for our domestic operations for all fiscal quarters of fiscal 2022 includes the adverse pressures on gross profit.
[6]	Net income for the fiscal quarter ended September 27, 2020 includes adverse demand pressures from the COVID-19 pandemic. Net income for the fiscal quarter ended June 27, 2021 includes a recovery of non-income taxes in Brazil due to the favorable conclusion of litigation related to excess social program taxes for multiple prior years.
[7]	Income per share is computed independently for each of the periods presented. The sum of the income per share amounts for the fiscal quarters may not equal the total for the fiscal year.

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.