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Here are a few analogies to describe UniFirst (UNF):

• UniFirst is like the Xerox of professional uniforms and facility supplies.
• UniFirst is like the Enterprise Rent-A-Car for work uniforms.
• UniFirst offers a service akin to "Netflix for work uniforms and facility services."

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UniFirst (UNF) provides the following major services:

• Uniform and Workwear Rental & Cleaning: Provides businesses with a range of workwear, uniforms, and protective apparel through rental programs that include cleaning, maintenance, and delivery.
• Facility Service Products: Offers rental and cleaning services for floor mats, mops, and restroom products, along with direct sales of various facility maintenance items.
• First Aid & Safety Services: Manages and stocks first aid cabinets on-site for businesses and provides safety-related products.
• Cleanroom Services: Specializes in providing garments and supplies for controlled cleanroom environments, including their laundering and sterilization.

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UniFirst (symbol: UNF) primarily sells its products and services to other companies (Business-to-Business, B2B), rather than directly to individuals.

UniFirst's core business involves providing workwear and uniform rental services, direct sale of work apparel, facility services (such as floor mats, mops, and restroom products), and first aid and safety services to a wide array of businesses.

According to UniFirst's public filings, including their annual 10-K reports, no single customer accounted for 10% or more of their total revenues in recent fiscal years. This indicates a highly diversified customer base across numerous industries, rather than reliance on a few major individual customer companies whose names would be disclosed. Consequently, UniFirst does not publicly identify specific major customer companies by name or symbol.

Instead, UniFirst serves a broad spectrum of businesses across various sectors. The types of industries that frequently utilize UniFirst's services include, but are not limited to, the following categories:

• Manufacturing: Companies in diverse manufacturing sectors that require branded uniforms for their factory and production line workers, specialized safety gear, and comprehensive facility services for maintaining clean and safe environments.
• Automotive: Businesses within the automotive industry, such as car dealerships, repair shops, and vehicle manufacturing plants, that need professional, often branded, uniforms for their employees and reliable facility maintenance products.
• Healthcare: Various healthcare providers, including hospitals, clinics, nursing homes, and medical offices, requiring professional attire, medical scrubs, and specialized uniforms for their staff, alongside essential facility hygiene and safety services.
• Food Service and Hospitality: Establishments like restaurants, hotels, catering companies, and food processing facilities that outfit their kitchen staff, servers, front-desk personnel, and other employees with uniforms and require robust hygiene and mat rental services to meet health and safety standards.
• Transportation and Logistics: Companies involved in transportation (e.g., trucking, airlines) and logistics that provide uniforms for drivers, pilots, ground crew, and other operational staff, often for branding and safety purposes.
• Construction and Trades: Businesses in the construction industry, along with various skilled trades such as electricians, plumbers, and HVAC technicians, who require durable, protective workwear and safety apparel for their field and service personnel.

Due to the diversified nature of their customer base and the absence of any single customer representing a significant portion of their revenue, UniFirst does not publicly disclose individual major customer company names or symbols.

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Steven Sintros, President and Chief Executive Officer

Mr. Sintros joined UniFirst in 2004, serving first as Finance Manager and Corporate Controller, then Senior Vice President and Chief Financial Officer, before being promoted to his current position in 2017. Prior to UniFirst, he worked as an Audit Manager at Ernst & Young and Arthur Andersen.

Shane F. O'Connor, Executive Vice President and Chief Financial Officer

Mr. O'Connor became Executive Vice President and Chief Financial Officer for UniFirst Corporation in 2018. He previously worked at UniFirst from 2005 to 2016, serving as Finance Manager and Corporate Controller. From 2016 to 2017, he served as Senior Vice President and Chief Financial Officer at Unidine Corporation, a national dining management services organization, before rejoining UniFirst. Prior to his initial tenure at UniFirst, Mr. O'Connor worked as an Audit Manager at Ernst & Young.

Kelly Rooney, Chief Operating Officer

Ms. Rooney joined UniFirst in 2024 as Chief Operating Officer. She has over 25 years of experience in operational and leadership roles within large-scale B2B route-based operations. Before joining UniFirst, Ms. Rooney served as Chief Human Resources Officer at Waste Management, a public company.

David A. DiFillippo, Executive Vice President, Operations

Mr. DiFillippo became Executive Vice President of Operations for UniFirst Corporation in 2002. He joined the company in 1979, progressing through roles such as Service Manager, General Manager, and Regional Vice President. He oversees specified laundry regions in the U.S. and Canada, as well as Product Management.

David M. Katz, Executive Vice President, Sales and Marketing

Mr. Katz joined UniFirst Corporation as Executive Vice President, Sales and Marketing in 2009. Prior to UniFirst, he worked for DHL Express, where he held positions including Northeast Vice President of Field Sales, Northeast Vice President of National Account Sales, and Senior Vice President and General Manager of the Northeast Region.

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The key risks to UniFirst's business include intense industry competition, economic and geopolitical uncertainties, and supply chain dependencies coupled with international trade risks.

1. Intense Industry Competition: UniFirst operates in a highly competitive industrial uniform and workwear market. The company faces competition from large national players, regional businesses, and smaller local providers, which can exert pressure on pricing and profit margins, ultimately affecting revenue and profitability. Maintaining a competitive edge necessitates continuous investment in service quality, technology, and customer relationships.
2. Economic and Geopolitical Uncertainties: UniFirst's business performance is significantly influenced by broader economic and geopolitical factors. Economic downturns, fluctuations in employment rates, inflation, and interest rate volatility can directly impact customer spending and the demand for UniFirst's uniform rental and related services. Furthermore, geopolitical events and international conflicts can disrupt business and financial markets, potentially affecting the company's financial performance.
3. Supply Chain Dependencies and International Trade Risks: UniFirst relies on a limited number of suppliers for raw materials and imports a substantial portion of its garments, with over 60% sourced internationally. This dependence exposes the company to risks such as supply chain disruptions caused by natural disasters or geopolitical events, as well as the impact of currency fluctuations, tariffs, and other trade policies that can increase costs and affect the ability to deliver products and services promptly.

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UniFirst (UNF) operates in several addressable markets related to uniform and workwear programs, facility services, and first aid and safety supplies and services. The market sizes for these main products and services are as follows:

Uniform and Workwear Programs

• The global uniforms and workwear market is estimated to be approximately $78.9 billion in 2025.
• In North America, the uniform and workwear market is estimated at $26.70 billion in 2025, accounting for over 40% of the global market revenue.
• For Canada, the uniforms and workwear market sales revenue is projected to be $2.365 billion in 2025.
• The European uniforms and workwear market sales revenue is estimated at $18.465 billion in 2025.
• More specifically for rental services, the global workwear rental and laundry service market was estimated at $5.68 billion in 2025.

Facility Services

This category refers to facility management services.

• The United States facility management market is valued at $365.93 billion in 2025.
• The Canada facility management market is estimated at $53.70 billion in 2025.
• The European facility management market is estimated at $293.28 billion in 2025.

First Aid and Safety Supplies and Services

• The global first aid market is estimated at $32.69 billion in 2025.
• North America accounts for approximately 40% of the global first aid market share.
• The European first aid market is projected to be worth $1.50 billion in 2025.
• For Canada, the safety services market was valued at $83.60 million in 2023 and is projected to reach $173.20 million by 2030.

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UniFirst (UNF) Expected Drivers of Future Revenue Growth

• Organic Growth in Uniform and Facility Service Solutions: UniFirst anticipates continued organic revenue growth within its primary Uniform and Facility Service Solutions segment. This growth is expected to be fueled by robust new account sales and ongoing improvements in customer retention. For fiscal 2026, the organic revenue growth for this segment is projected at 2.6%.
• Expansion of First Aid and Safety Solutions Segment: The First Aid and Safety Solutions segment is a significant growth driver, having achieved nearly 10% growth in fiscal 2025 and projecting double-digit expansion for fiscal 2026. This expansion is supported by ongoing investments in the segment's "van business".
• Strategic Investments in Sales, Service, and Technology Infrastructure: UniFirst is investing strategically in its sales and service infrastructure to accelerate future organic growth, aiming for mid-single-digit growth. These investments also include significant capital allocation towards technology transformation, such as ERP systems, which are intended to enhance operational efficiency and support overall growth.
• Enhanced Customer Acquisition and Retention Initiatives: The company is focused on driving future revenue through improved customer acquisition strategies and strengthening customer retention. Notable improvements in customer retention were observed in fiscal 2025, and new account sales continue to be a key contributor to organic growth.
• Strategic Acquisitions: UniFirst plans to continue deploying its cash flows towards strategic investments, including acquisitions, with the goal of expanding its market scale and improving operational efficiency.

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Share Repurchases

• In fiscal year 2025, UniFirst repurchased approximately 402,000 shares of common stock for $70.9 million.
• In April 2025, UniFirst's Board of Directors authorized a new $100 million share repurchase program, which includes the remaining amount from a previous program approved in October 2023.
• During fiscal year 2024, the company repurchased 139,556 shares of common stock for $23.8 million, with $76.2 million remaining under the existing authorization as of August 31, 2024.

Outbound Investments

• In March 2023 (fiscal year 2023), UniFirst completed the acquisition of Clean Uniform for approximately $299.1 million, net of cash acquired.
• During fiscal year 2025, the company completed ten business acquisitions, primarily in the First Aid & Safety Solutions segment, with a total purchase price of approximately $13.9 million.

Capital Expenditures

• Capital expenditures totaled $154.3 million in fiscal year 2025, including $26.4 million related to the ongoing Oracle ERP project.
• For fiscal year 2024, capital expenditures amounted to $160.417 million, primarily focused on investments in the company's infrastructure and technology capabilities.
• UniFirst expects capital expenditures for fiscal year 2026 to remain elevated at approximately $150 million, largely for continued ERP implementation.