Good morning, and thank you for attending Unifi's Third Quarter Fiscal 2025 Earnings Conference Call. Today's conference is being recorded, and all lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. The speakers for today's call include Al Carey, Executive Chairman; Eddie Ingle, Chief Executive Officer; and A.J Eaker, Chief Financial Officer. During this call, management will be referencing a webcast presentation that can be found in the Investor Relations section of unifi.com. Please familiarize yourself with page 2 of that slide deck for cautionary statements and non-GAAP measures. I will now turn the call over to Al Carey. Please go ahead. Thank you. Good morning, everyone, and thank you for listening in on our call today. I'll start it off by telling you about, over the last few months, we've been working on several initiatives to rationalize our assets and improve our profitability for our North American business. The work is in flight right now as we speak. It will be completed by the end of our fiscal year, which is the end of June. We're coming down the home stretch for another eight weeks. The work includes—let me list five things to tell you about. One is we're closing our Madison, North Carolina, facility in mid-June. We've been moving the assets out of Madison into our other North Carolina facility in Yadkinville and in our facility in El Salvador, Central America. They will pick up all of the volume that Madison has been doing. We're going to see a much-improved capacity utilization in these plants very quickly. The second item I wanted to mention is we are removing all the costs from the Madison facility. It's quite a big facility at 950,000 sq ft. We're making additional cost savings in the rest of our North American operation business. Those projects are completed by the end of June and will show up in the new fiscal year as savings. Our third activity is the sale of the Madison facility, and that's expected to close soon. That will provide us with proceeds that are going to allow us to make a significant improvement in our balance sheet and to retire some debt. The fourth item I wanted to mention was we're seeing an improvement in demand in North America in general, but especially in the Central American region. There are several large brands and retailers that have begun to move production into Central America even before all these tariff discussions began. It seems like a good place to offshore and also to have a closer supply chain to the U.S. Now, with the tariff situation that is going on, it is an even more compelling decision. It provides some geographic facility for these brands and retailers, and a little data point that is worth looking at. I would not make any promises on this, but more than 50% of our business in Central America recently has been REPREVE. This bodes well for the future. I would say we can expect something in that range or possibly better as we move forward. This is dependent on the new customer orders that come in from that geography. The final one I'll mention is we continue to work on innovation, innovation that is very profitable for our business. We have traction in both of the areas that we've been spending time on. You should see that revenue start to pick up into the new fiscal year. In North America, we've mentioned before the products in outside of apparel categories. Most notably, we've really got traction on military wear and also on carpet. These orders are coming in now, and they're going to build momentum. It is very positive for us as the margins are quite better than they are in our base business. In Asia, we have these REPREVE innovations that have been gaining traction, small right now, but going to be bigger into the new fiscal year and beyond. That is especially for these products that fall into the circularity segment, such as textile take-back and Therma Loop insulation. Circularity is a concept that is very, very interesting to young consumers and therefore to our customers. We are going to speak about this more in the upcoming quarters. Both the REPREVE innovation and the outside apparel business are starting to pick up, but they have favorable margins. They will also be a great opportunity to grow our business in Unifi down the road. That is a summary. We are optimistic. The work we have been doing shows some real light at the end of the tunnel. I believe that it is going to give us the opportunity to return to growth and also to have solid economics beginning in the new fiscal year. With that, let me turn it over to Eddie and A.J. They'll now be taking you through the real meat of our Q3 presentation. There will be further discussion about our overall business. A.J. Thanks, Al. This is Eddie. Before I begin my prepared remarks, I'd like to recognize Tom Caudle, who died last Friday after a protracted illness. He was a true Unifi champion who built a 40-year-plus career at Unifi, rising to become the President and COO before his retirement in June 2021. He was a loved and respected leader of Unifi in the textile industry and will be missed by all. On behalf of all those at Unifi and many other industry leaders, I'd like to take the time to pass on our deepest condolences to his wife, Ann, and his family. Turning back to the call, as Al just mentioned, our results for the quarter were in line with our expectations, driven primarily by improved performance in our Americas segment due to the positive traction we have experienced with our Beyond Apparel and REPREVE fiber initiatives and the ongoing recovery, as Al mentioned, of our business in Central America. Before I dive deeper into the drivers of our results, I would like to start by providing an update on both our U.S. manufacturing transition that we announced back in February and the ongoing situation with tariffs. We recently announced that we have entered into a real estate purchase and sale agreement to sell our Madison, North Carolina, manufacturing facility for $53.2 million, which will help reduce our outstanding debt and enhance our financial position once finalized. A.J will provide greater details on the sale and the cost of this transition shortly, but we are very pleased with this outcome, particularly with how quickly we were able to reach an agreement. This sale marks a significant step in our efforts to optimize our business and improve our balance sheet. The Madison facility has been operating below capacity for an extended period of time now. With the planned ceasing of operations set for mid-June, our remaining yarn facilities in North and Central America will begin operating at much higher levels of capacity. This improvement in utilization is anticipated to meaningfully enhance our liquidity and margin performance without having to sacrifice any sales volume or ability to grow over the next few years. As we have previously noted, we will continue to consider additional steps to improve both the strength of our balance sheet and our financial performance to ensure that we remain well-positioned to pivot to growth in the near future. Turning now to what the recent tariff announcements will mean for our business. While there continues to be a fair amount of uncertainty regarding how this tariff situation will play out, there are several areas of our business that could benefit and others that could be negatively impacted. For instance, in our Americas segment, we do believe that if the tariffs on China and some other nations stay in place, our business in the U.S. will be poised to benefit from the improved competitive environment, given the increased cost of importing garments and textile-related goods. Furthermore, our recent efforts to adjust our footprint and maximize the value of our remaining facilities in the Americas put Unifi in a great position to capitalize on a potential increase in demand. In Brazil, in the medium term, we do not anticipate that we'll see any meaningful volume impact from the tariffs, given that our commercial activities take place within the country of Brazil. While there is a possibility that near-term dumping in the region could increase as a result of the heightened tariffs on Asia-related countries, we do believe that our strength and value-added positioning in Brazil should help mitigate the large majority of that risk. As for our Asia business, the impact of the recent tariffs continues to remain uncertain. If the current tariff levels remain in place, we do anticipate that our results in the region could be negatively impacted. That said, as many of you know, we operate an asset-light model in the region and in multiple countries in Asia. We are working on several options to mitigate risk as we gain more certainty on the path forward and determine which levers to pull. To sum up, while the global tariff situation remains very fluid, we are monitoring the situation closely and believe that we'll see some pushes and pulls, which we hope would end up being net neutral to positive for us over the next few years. Transitioning now to an overview of the quarter on slide four. During the third quarter of fiscal 2025, we reported $146.6 million in consolidated net sales, which were slightly down compared to the prior year period, primarily due to the less favorable sales mix and lower sales volumes in the Asia segment and foreign currency impacts. In the America segment, we saw an increase in net sales during the quarter compared to the previous year, driven by our beyond apparel initiatives and the continued positive momentum in Central America. Our Brazil segment has continued to perform well due to an overall stable to strong market for textured polyester, despite some pricing pressures from inbound Chinese goods and foreign currency impacts. We expect that this trend will continue in the fourth quarter. As anticipated, our Asia segment results experienced a seasonal impact from the Chinese New Year in February and continued macroeconomic pressures. As I noted earlier on the call, we're monitoring the tariff environment on a daily basis and we'll make adjustments to maximize our results once we have more clarity. Turning now to slide five for an update on REPREVE. During the third quarter, REPREVE represented 31% of sales, and they were in line with the previous year as we continue to experience the impact of macroeconomic pressures in China. However, we continue to believe that we'll see an improvement in our REPREVE fiber business during fiscal 2026 as our recently announced REPREVE take-back filament yarn and ThermaLoop products begin to gain traction with our customers. Moving now to slide six to highlight some of our recent marketing efforts. A standout of these efforts was the global launch of Integrate, the industry's most comprehensive multifunctional sustainable yarn that we unveiled at the Premiere Vision Paris trade show, where it drew strong industry interest. We also broadened the impact of REPREVE take-back, our circular recycling solution. This quarter, it was featured in Walmart's Joyspun socks and Faherty's All Day Short and was promoted through their online and social media campaigns. In April, we launched REPREVE with CiCLO, a technology that helps to reduce microplastic fiber pollution by enabling synthetic yarns to break down more like a natural fiber. Also, our co-branding strategy has continued to strengthen, with key partners including H&M, Bass Pro Shops, Marmot, and Poivre Blanc highlighting REPREVE products across their channels. As an example, Bass Pro Shops is highlighting REPREVE signage in all 163 of their stores and is also promoting the line digitally. During Earth Month, we honored brand partners through our long-running REPREVE Champions of Sustainability initiative. Winners included Nike, Target, Walmart, Polartec, and Texhong, with special recognition to New Balance, Swannies, Marmot, Malibu C, and many others. One of this year's winners, Marmot, plans to debut a Therma Loop insulated product in the fall and winter of 2025, which we are obviously very excited about. As we moved through the quarter, our media presence grew with broad coverage and high-profile outfits, including CNN, Harper's Bazaar, and Sports Illustrated Swimsuit, generating strong brand visibility. Finally, over the past few months, we also received several significant accolades, such as REPREVE being recognized by Fast Company for its textile-to-textile recycling efforts. Our Therma Loop product won multiple awards for circular innovation, including Just Style Excellence Award and the SEAL Sustainable Product Award. Unifi was named one of Newsweek's most responsible companies and recognized by USA Today as one of America's climate leaders for 2025. Furthermore, the Association of Plastic Recyclers honored Unifi with the Recycling Technology Leadership Award. These milestones and awards underscore the recognition our commitment to innovation, circularity, and sustainability leadership is getting in the marketplace. With that, I would like to pass the call over to A.J to discuss our financial results for the quarter. Thank you, Eddie. As Al and Eddie mentioned earlier in the call, our third-quarter results met our expectations as we continue to make significant progress in positioning our business for future growth and profitability following our recently announced transition. We remain committed to carefully managing variable expenses in both production and administrative functions. This disciplined approach aims to achieve meaningful cost efficiencies and enhance profitability, which will be reinvested in the critical growth areas, particularly in our beyond apparel and REPREVE fiber initiatives, which will strengthen our revenue performance and support sustained margin expansion. Moving on to the financial results on slide eight, you will see our consolidated financial highlights for the quarter. Consolidated net sales for the quarter were $146.6 million, down 2% year- over- year. The decrease was primarily driven by lower volumes on a weaker sales mix in Asia and unfavorable foreign currency effects in Brazil, but was partially offset by improved volumes in the Americas, as Eddie mentioned. Turning to slide nine in the America segment, net sales were up by 3% compared to the prior year due to the benefits of our recent sales growth initiatives and an improved environment. Gross margin in the America segment experienced a decline of 350 basis points during the quarter, driven primarily by inflationary pressures and transition costs related to the manufacturing footprint reduction. Slide 10 displays our Brazil segment highlights, with the segment seeing continued strength due to our strategic position in the region with full capacity utilization. While costs and pricing are dynamic in this region, the Brazil operation continues to perform well. Finally, on slide 11, Asia saw net sales and gross margin decline by 12% and 150 basis points, respectively, due to the continued challenges in the region for both sales mix and pricing dynamics stemming from macroeconomic pressures there. I'll now briefly discuss our U.S. manufacturing transition and the expectation of improved cash flow and leverage position. We are pleased to have reached an agreement to sell the Madison facility for $53.2 million. At this time, we anticipate that the sale will close on May 15th, and once the sale is finalized, the net proceeds from the transaction will be used to repay roughly one-third of our outstanding debt, which will result in a $3 million annual interest savings. Going forward, we expect significant savings from the consolidation of manufacturing activities across North and Central America, providing a $20 million reduction to cost of sales. This reduction is comprised of approximately 60% labor, 15% utilities, and the remaining 25% to overheads associated with oversight and upkeep relating to the facility that will inherently cease. From a run rate perspective, we expect these savings to fully materialize in calendar 2026 after the transition of activities has fully settled into our business lines and labor productivity has stabilized. As we have noted several times, we expect to complete this transition with no loss in revenues or disruptions in customer service. As a result of this transition out of the Madison facility, we have already incurred a total of $1.3 million in restructuring costs. Throughout the remainder of calendar year 2025, we will incur additional restructuring expenses from this manufacturing transition, primarily as a result of the relocation of equipment, abandoning equipment, a total of which we expect to range between $6-$8 million. We will continue to provide additional updates on the progress of this transition and the associated cost savings benefits as the process advances. With that, I'll now pass the call back to Eddie to make some final comments. Thank you, A.J Now let's turn to slide 13 to discuss our forecast for the fourth quarter of fiscal 2025. For the fourth quarter, we are expecting net sales and adjusted EBITDA improving sequentially from the third quarter of fiscal 2025, primarily driven by the further recovery for the Americas segment and then, of course, moving beyond the Chinese New Year period. Continued restructuring and transition expenses, primarily equipment relocation and abandonment costs, as A.J said, are between $6 million and $8 million. As we have highlighted today, the sale of our Madison manufacturing facility marks a significant step for our business. I want to once again point out the key takeaways of this transaction and the elimination of the yarn production at this site. First, upon closing of this transaction, we will immediately repay $50 million of debt, reducing our leverage and providing the business with significantly more flexibility to invest in future growth and innovation. We will increase the utilization of our remaining manufacturing facilities in North and Central America substantially, which will allow for significantly improved fixed cost leverage. With higher utilization and more efficient operations in the America segment, we will remove over $20 million in costs once the facility sale is finalized and all restructuring expenses are completed. Further, we'll save an additional $3 million in annual interest expense. All of these savings will fall to the bottom line by late calendar year 2025, which should get us back to consistent EBITDA profitability, assuming we don't see a protracted global recession. With stronger margins of profitability, we should also return to generating positive free cash flow, which again will allow for improved investment in opportunities that will drive long-term shareholder value. Most importantly, we'll still have plenty of capacity to support the exciting new innovation products we've outlined earlier, and we will continue to leverage the asset-light model in the Eastern Hemisphere that has contributed well to global growth and expansion. Over the next few months, as noted on slide 14, our focus will be on exiting our Madison facility and increasing the operating capacity at our remaining facilities to support our customers' needs with sustainable and innovative products that will help to create a more circular economy and position Unifi for future profitable growth. This is a pivotal moment in time for Unifi, and the management team is energized by the opportunities that lie ahead. With that, I would like to now open the line for questions. Thank you. At this time, I would like to remind everyone in order to ask a question, press star, then the number one on your telephone keypad. We will pause for just a moment to compile the Q&A roster. Our first question comes from the line of Anthony Lebiedzinski from Sidoti & Company. Please go ahead. Good morning, everyone, and thank you for taking the questions. Certainly nice to see continued progress, and it sounds like there's a lot of opportunity here with the closing of the Madison facility here to optimize the business. First, I guess just a quick housekeeping question, probably for A.J, as far as the FX impact in Brazil, maybe I missed that, but is there a way to kind of think about how much the foreign exchange headwind was for the Brazil segment? Yeah, Anthony, if you'll give me one second just to reference that, I'll provide that for you in just a moment. You can go with your next question, and I'll come back to you. Sure. Okay. Thanks, A.J. Al, you mentioned the carpet and military markets as an opportunity for beyond apparel, which you guys have talked about previously as well. Just thinking about what you said as far as margins being better for that versus other categories, is there a way to put a number on that as far as how to think about that and what the market opportunity is for that? We do not have a—we do not want to put out a forecast yet because we are dealing with some customer confidentiality, but I would say the margins are at least twice as good as what we sell on our base business. Okay. That's great to hear. Okay. The same thing on carpet. Okay. That sounds very promising. Okay. Gotcha. Okay. Okay. And then, Eddie, I know you gave a tariff overview. It sounds like it could be a net positive. I know there is a lot of moving parts. It is still a fluid situation. Just wondering, with the administration also ending the de minimis rule exemption, how should we think about the impact on your business from that? I think you put both the de minimis exemption for China and Hong Kong, which happened today, and the extreme tariff of 145% that's in play with China today sort of all together. You can see companies like Temu and Shein increasing prices by 300%. For us, we've looked at our business overall. We've looked at where we sell into in China, and much of our product that we sell in China actually ends up in fabric form, and that fabric gets exported to the different regions. Most of the other countries that we sell to are experiencing a 10% tariff, which is quite manageable on top of the normal duties that exist for synthetic materials, synthetic garments coming into the country. I would say the overall impact of de minimis and tariffs lumped together, and I would say as we move through the next few months and we get more clarity of what the administration is going to do, we'll have much more visibility. Right now, we expect there could be a downturn in our business in Asia maybe by 10% or 15%, but it's really hard to know until we get all of the tariffs finalized. Gotcha. Yeah. Yes. Yeah. I know it's still a moving target with respect to that, so we'll stay tuned. Okay. Just to piggyback off of that, as far as just on the Asia segments, obviously, that's predominantly China. If the tariffs kind of stay in place like this for an extended period of time, is that kind of what you're thinking, 10-15% decline? Is there any way to put some additional color on that as far as? Yeah. It is hard to specifically—we've done the analysis, but just to remind you, Anthony, we do have this asset-light model that is distributed across Asia, and many of our customers actually buy yarn from us in Turkey, in India, directly in Vietnam, Indonesia, which all those countries have a 10% tariff right now. The reciprocal tariff is being negotiated with each of these countries as far as our understanding. We expect right now, at this time, for the administration to take a more measured approach as they move forward and negotiate country by country. As long as the tariffs stay at the reciprocal tariffs stay at the current levels, yes, we are confident that the downturn in our revenues in the Asia model because of our asset-light business we've built should be in that 10-15% range. We will have more visibility on that in the coming months. Absolutely. Okay. Thanks for that. Thinking about the cost savings from the facility consolidation, will we see some of that already in the first quarter of fiscal 2026, or do you think it will take longer for that to materialize? Yeah. Thanks, Anthony. It's A.J. I'll start with follow-up from your earlier question for the FX impact primarily in Brazil. That's about $4 million in the quarter and about $11 million in the nine months, so just a few percentage points on total sales for each period. Moving into the cost savings, we certainly expect some of those cost savings to hit in the first quarter of fiscal 2026. We do not see the full run rate being realized yet until later in the calendar year, just as we stabilize all of the transition activities, get labor in the position that it needs to be in Yadkinville, and have everything fully transitioned. You do expect to see some of that in this calendar year, but not fully realized on a run rate basis until late. Anthony, the one biggest item, this is Al, when we close down the facility, we're moving new people into Yadkinville to handle the new volumes that they have. The hiring is going well. We're training people, but it takes a little while for them to get up to speed, and we see improvements every single week. They're not operating at full-out great performance until they've probably had three or four months under their belt. That's the one item that we're working on the most. Understood. Okay. Lastly for me, I know we talked about beyond apparel. You referenced the carpet and military. Previously, you guys had also talked about some other vertical markets like automotive and home furnishings. Obviously, there is a lot of macroeconomic concerns and tariff concerns. After we get past some of this noise here, do you still see that as an opportunity to move beyond apparel? Yeah. Thanks for the question, Anthony. Certainly, the areas that we talked about, you're right, automotive, home furnishing, but I'll also add the packaging market in there too, where we sell a lot of our pre-resin into that market. We are excited about the carpet and military opportunities. And military, also the area that we're selling into is also the tactical street where the people use at a more frequent rate. So we're excited about these things, these markets beyond those two. I think packaging, for me, is the most exciting one that I think we have a lot of opportunity. You've heard a lot of the brands pushing out some of their sustainability targets out to the 2025 targets are now being updated to the 2030 targets. Some of these brands are getting some flack for extending it out, but what we're seeing is they're not dropping their sustainability targets. They're just trying to move them out primarily because it's just hard to move to become more sustainable. I think there's a greater realization of that. The good news is they're not backing off on their targets. They're just trying to move them out. We see a lot of opportunity not just to move into these new brands and beyond apparel, these markets and beyond apparel, but also to move these markets into more sustainable footprint. We expect quite a bit of our military business, for example, to move into our REPREVE nylon business. That's exciting to us. When we had that Champions of Sustainability event, we had a lot of brands there, like Hanes brands, Gildan, traditional textile companies. We also had Malibu Sea. We were selling REPREVE Our Ocean into their packaging for their cosmetics. A lot of exciting things are happening in the beyond apparel, not just in the growth of that market, but in moving REPREVE into that area. All right. That sounds good. Yeah, thank you and best of luck. Thanks. Thanks, Anthony. Take care. Thanks. Our next question comes from the line of John Deysher from Pinnacle. Please go ahead. Good morning. Thanks for taking my question and congratulations on the quick sale of the plant. I guess you mentioned that it's anticipated closing May 15th. Are there any significant contingencies that have to be overcome by then? I assume the buyer has financing in place, but what might any contingencies be between now and May 15th? Good morning, John. Thanks for the question. The main contingency in the contract is just adequate power output. We are working through that right now and have no hiccups expected there. Still expecting to close around May 15th. Okay. Good to hear. In terms of the $6-8 million of additional restructuring cost, that's in the fourth quarter or that's between now and calendar year-end? Thanks, John. The majority of that will occur in the fourth quarter. Some could certainly leak into the first quarter, just depending on the timing and the overall workload that's required to move machines around. Again, that's primarily machines being moved around. Generally, we expect that to be wrapped up in the next few months. Okay. Is that cash or non-cash, or how does that break out? Primarily cash. Primarily cash. Okay. Good. Kind of a broader question. I was just curious, at what point do you start to disclose the profitability of REPREVE? We hear lots about it, and you give us a sales number, but from the outside, we really have no idea of what the profitability is once you embed all the marketing costs and the trade shows and all of that. I am just curious how the board thinks about additional disclosure on the REPREVE, which would certainly help outside investors with their decision-making. Sure. Thanks for the feedback, John. We're certainly proud of what REPREVE accomplishes, especially over the last several years. You can note that REPREVE is a material component of the Asia segment. In general, that gives you a pretty good idea of the margin basis there. Right now, the current reporting structure will stay for the foreseeable future. Okay. When you say a material component of the Asia, what are you telling us there? Could you elaborate on that? Sure. We've disclosed in the past that REPREVE is 80% or more of overall Asia segment sales. So we would consider that the largest component of the overall Asia sales and margin profile. Okay. So without REPREVE, the Asia margins would be higher? Not necessarily. We have REPREVE along with value-added technologies. There is a good strong mix in that segment. There is certainly a mix within there that we have not broken out, but we are proud of that Asia segment margin, whether it is on REPREVE or REPREVE plus with value-added technologies. John, this is Al. We could probably do a better job of telling you more about that. Over the last couple of, I'd say, 18 months, our business has been difficult, and there was no real discussion about margins. As things come back here, in China or in Asia, we have REPREVE base. We have REPREVE plus. I would call it stage one, and this is another level, and there is another level. There are four levels, and they increasingly get better margins. Let us think about a way to get that into the marketplace. Our constant effort is to move from REPREVE plus, which gets a bit commoditized as time goes on, and then you move up to these other stages of REPREVE, with the highest level being the textile takeback and the ThermaLoop stuff that we have just launched. There are other things in between that are also more profitable than the base REPREVE. Okay. I would encourage you to have a deeper discussion at the board level to provide some type of margin analysis on the REPREVE business, which would clearly help investors and perhaps clearly help the stock price. You got it. Thanks for the feedback, John. Take care. You too. Thanks. Bye. Our next question comes from the line of Randy Baron from Pinnacle. Please go ahead. Hi guys. Good morning. Can you hear me? Good morning, Randy. We're here. You found. Yeah. Great, A.J. This has been a super comprehensive Q&A, so most of my questions have been answered, but I just have a couple of administrative ones and maybe one or two high-level. Just to follow up on that last question, kind of that focused more on the REPREVE breakdown in Asia. I'm really curious on that slide 11. Roughly speaking, what percent of the Asia revenue is China today? We do not disclose that because a lot of the, like I said in the call, a lot of the product that we sell actually goes out of China, but we do not disclose that. Okay. You've said that the transition in America is going to be done by the end of the fiscal year. Is that also roughly—it sounds like it is, but is that also—I just want to make sure—is that roughly when all the cash costs are going to be complete? Yeah. I think we had a similar question earlier, Randy. Some of that cash cost would leak into Q1 just based on the overall workload and timing of the machine moves. We do not expect anything to leak past Q1. Again, we expect the majority of that cost, again, primarily cash, to be incurred in this quarter, the fourth quarter. Okay. And then just two very high-level questions as I hop back in queue. One is you talked—the REPREVE, kind of over 50% of the pie is super exciting. I'm curious if you could just riff a little bit and give some anecdotes about is it coming from one customer in particular who's pushing—you mentioned some of the logos during the script, but just give us some sense of the fastest categories, the vertical, the applications growing. And then just more broadly, at a high level, is there anything else that Unifi can sell? And congratulations on this recent successful completion. Thanks so much. Yeah. Central America is an interesting market because it generally feeds a lot of the performance athletic wear business. You have the normal big brands like Nike or retailers like Target and Walmart getting a lot of their supply chain for near-term, quick-turn. What we are seeing, what was described earlier, is this idea of nearshoring. Right after the destocking phenomenon happened, business did move away back to China. Because of the tariffs, and as Al pointed out, even before the tariffs, the performance athletic companies had decided to move some of their supply chains back. I guess they were fortunate because they were a little bit ahead of some of these announcements. Basically, it is a performance apparel market right now. Regarding the second question, I am going to hand it over to AJ. Sure. In terms of other assets, we've done a great job with the warehouse that we sold last year, continuing to shore up assets that do have additional value, looking forward to closing on the Madison facility. At this time, we don't have other assets slated for sale. We're continuing to evaluate the balance sheet, of course, our footprint to look for additional opportunities. Nothing to announce at this time, but that will remain of consideration for all of us as we move forward. Thank you. Thank you, Randy. Ladies and gentlemen, that concludes today's call. Thank you all for joining. You may now disconnect.