UNIFIRST CORP
For the period ended May 25, 2024. Filed Jul 3, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
May 25, 2024 · Filed Jul 3, 2024
Contents
Cover page
Show cover page
u
United States
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
| ☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
For the quarterly period ended May 25,2024
OR
| ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
For the transition period from to
Commission file number:001-08504
UNIFIRST CORPORATION
(Exact name of registrant as specified in its charter)
| Massachusetts | 04-2103460 |
|---|---|
| (State or Other Jurisdiction ofIncorporation or Organization) | (I.R.S. EmployerIdentification No.) |
| 68 Jonspin Road, Wilmington, MA | 01887 |
| (Address of Principal Executive Offices) | (Zip Code) |
(978) 658-8888
(Registrant’s Telephone Number, Including Area Code)
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common Stock, $0.10 par value per share | UNF | New York Stock Exchange |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| Large accelerated filer | ☒ | Accelerated filer | ☐ |
|---|---|---|---|
| Non-accelerated filer | ☐ | Smaller Reporting Company | ☐ |
| Emerging Growth Company | ☐ | ||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No☒
Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.
The number of outstanding shares of UniFirst Corporation Common Stock and Class B Common Stock as of June 28, 2024 were 15,022,850 and 3,590,295, respectively.
UniFirst Corporation
Quarterly Report on Form 10-Q
For the Thirteen and Thirty-Nine Weeks Ended May 25, 2024
Table of Contents
| Part I – FINANCIAL INFORMATION | 3 |
|---|---|
| Item 1 – Financial Statements (unaudited) | 3 |
| Consolidated Statements of Income for the Thirteen and Thirty-Nine Weeks ended May 25, 2024 and May 27, 2023 | 3 |
| Consolidated Statements of Comprehensive Income for the Thirteen and Thirty-Nine Weeks ended May 25, 2024 and May 27, 2023 | 4 |
| Consolidated Balance Sheets as of May 25, 2024 and August 26, 2023 | 5 |
| Consolidated Statements of Shareholders’ Equity for the Thirteen and Thirty-Nine Weeks ended May 25, 2024 and May 27, 2023 | 6 |
| Consolidated Statements of Cash Flows for the Thirty-Nine Weeks ended May 25, 2024 and May 27, 2023 | 7 |
| Notes to Consolidated Financial Statements | 8 |
| Item 2 – Management’s Discussion and Analysis of Financial Condition and Results of Operations | 25 |
| Item 3 – Quantitative and Qualitative Disclosures About Market Risk | 37 |
| Item 4 – Controls and Procedures | 38 |
| Part II – OTHER INFORMATION | 39 |
| Item 1 – Legal Proceedings | 39 |
| Item 1A – Risk Factors | 39 |
| Item 2 – Unregistered Sales of Equity Securities and Use of Proceeds | 39 |
| Item 3 – Defaults Upon Senior Securities | 39 |
| Item 4 – Mine Safety Disclosures | 39 |
| Item 5 – Other Information | 40 |
| Item 6 – Exhibits | 41 |
| Signatures | 42 |
| Certifications | |
| Ex-31.1 Section 302 Certification of CEO | |
| Ex-31.2 Section 302 Certification of CFO | |
| Ex-32.1 Section 906 Certification of CEO | |
| Ex-32.2 Section 906 Certification of CFO | |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.