How UniFirst’s (UNF) Proxy Battle With Engine Capital Could Reshape Its Strategic Direction

• On November 12, 2025, UniFirst Corporation announced that it had filed a preliminary proxy statement with the SEC, recommending shareholders vote for its board nominees Steven S Sintros and Joseph M Nowicki at the upcoming annual meeting while urging a vote against nominees put forward by Engine Capital Management, LP.
• This proxy contest highlights the potential for significant changes in UniFirst’s board composition and company direction, capturing the focused attention of shareholders and the broader market.
• We'll examine how the ongoing proxy contest with Engine Capital Management could influence UniFirst's investment narrative and strategic outlook.

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UniFirst Investment Narrative Recap

To be a UniFirst shareholder, you need to believe in the company’s ability to drive operational improvements and margin gains, especially as it invests in technology upgrades and supply chain expansion. The recent proxy contest with Engine Capital Management is a clear reminder of potential changes in board direction, though for now it does not appear to materially change UniFirst’s main short-term catalyst: achieving smoother technology deployments, or its greatest risk, which is maintaining stable customer demand against cost and competitive pressures.

Among UniFirst’s latest announcements, the completion of its $59.4 million share buyback stands out. This action signals management’s confidence in the company’s value and financial position, which ties back to the ongoing catalysts around enhanced profitability and operational execution, despite ongoing boardroom debates and industry risks.

But in contrast to recent management actions, investors should be aware that net wearer levels for existing customers recently declined, meaning...

Read the full narrative on UniFirst (it's free!)

UniFirst's narrative projects $2.7 billion revenue and $179.2 million earnings by 2028. This requires 2.7% yearly revenue growth and a $27.3 million earnings increase from $151.9 million today.

Uncover how UniFirst's forecasts yield a $165.50 fair value, a 4% upside to its current price.

Exploring Other Perspectives

Simply Wall St Community members offered fair value estimates from US$165.50 to US$171.38, reflecting a narrow span of two perspectives. Some participants remain focused on competitive risks that could impact UniFirst’s ability to grow revenue or protect margins, so consider multiple viewpoints before forming your own outlook.

Explore 2 other fair value estimates on UniFirst - why the stock might be worth just $165.50!

Build Your Own UniFirst Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your UniFirst research is our analysis highlighting 2 key rewards that could impact your investment decision.
• Our free UniFirst research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate UniFirst's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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