Gildan Activewear news and archive

Gildan posts slight sales increase, reaffirms outlook

Canadian activewear retailer Gildan reported net sales of 712 million dollars, a 2.3 percent increase compared to the prior year, while adjusted net earnings of 89.8 million dollars were down 9.4 percent. The company's activewear sales saw a 9 percent rise, driven by higher sales volumes and a favourable product mix in North America. However,...

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Gildan Activewear posts revenue growth, unveils leadership changes

Gildan Activewear capped off its 40th anniversary year with strong financial results, including 3.3 billion dollars in revenue, a 2 percent increase, a 21.3 percent adjusted operating margin, and 17 percent adjusted diluted EPS growth, all in line with guidance. The company also announced executive leadership changes as part of a multi-year...

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Gildan Rings the Opening Bell on the New York Stock Exchange

Montreal – Gildan Activewear Inc. (GIL: TSX and NYSE) announced today that its President and CEO, Glenn J. Chamandy, rang the Opening Bell® on the New York Stock Exchange (NYSE) to mark the Company’s 40th anniversary as well as its 25th anniversary of being listed on the NYSE. He was joined on the podium by members of the Company’s senior...

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Management

Gildan lowers 2024 revenue target but ups adjusted earnings outlook

Gildan Activewear reported net sales of 891 million dollars, up 2.4 percent over the prior year, at the high end of previously provided guidance of flat to low single-digit growth. The company’s activewear sales of 788 million dollars, were up 6 percent reflecting positive POS in the category across channels in North America. The company has...

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Management

Gildan's Q2 net sales grow, sets targets for the 2025 to 2027 period

Gildan Activewear’s net sales for the second quarter were 862 million dollars, up 3 percent, at the higher end of previously provided guidance of flat to low single-digit growth. Net sales for the first half period were 1,558 million dollars, up 1 percent versus the same period last year. "I am proud of the Gildan team's ongoing dedication,...

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Management

Former Gildan CEO reinstated as entire board exits

Following a campaign by activist investors to regain control of the company, all board members of Gildan Activewear have now stepped down and are to be replaced by an eight-member slate of directors proposed by shareholder Browning West. It puts into place a proposal introduced by the investment firm, which owns around 5.7 percent of the company...

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Report

Gildan posts marginal drop in Q1 net sales

Gildan Activewear reported first quarter net sales of 696 million dollars, down 1 percent over the prior year driven by lower net selling prices and unfavourable mix. Meanwhile Browning West, which is campaigning to bring back former Gildan CEO Glenn Chamandy, urged its fellow shareholders to vote for all its eight director candidates at the...

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Gildan reshuffles board, ropes in ex-Goldman Sachs executive as chairman

Gildan Activewear has announced a refreshed board of directors with five new appointments. Timothy (Tim) Hodgson, former special advisor to governor Carney at the Bank of Canada and former CEO of Goldman Sachs Canada, Lewis L. (Lee) Bird III, former chairman and chief executive officer of At Home Group, Jane Craighead, former senior vice...

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Management

Gildan outlines strategic priorities, confirms 2024 outlook

Gildan Activewear’s president and CEO, Vince Tyra has unveiled his key strategic priorities for the company. Concurrently, Gildan also reconfirmed its 2024 full year guidance and said that the preliminary first quarter revenue is expected to come in at approximately 695 million dollars or down about 1 percent year over year. Reflecting on his...

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Business

Gildan negotiates with takeover candidates, activist investor contends

The Canadian textile group Gildan Activewear Inc. confirmed on Tuesday evening that it has received a takeover bid. The parent company of the American Apparel brand, which recently caused a stir due to a controversial change in management, was responding to corresponding media reports, which had alleged the prospective buyer is the financial...

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Business

Gildan Activewear faces lawsuit from shareholder over claims of ‘oppressive actions’

A shareholder of Gildan Activewear has filed a lawsuit against the company claiming that it had pursued a “strategy of entrenchment, obfuscation and disparagement of dissenting shareholders” while making “value-destructive decisions”. Browning West, which owns around 5 percent of Gildan’s outstanding shares, said it was filing the lawsuit with...

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Management

Gildan posts increase in Q4 sales and earnings

Gildan Activewear generated sales of 783 million dollars, up 9 percent for the fourth quarter and operating margins of 22.8 percent. GAAP and adjusted diluted EPS for the quarter of 89 cents and 75 cents, increased by 89 percent and 15 percent, respectively, marking the resumption of quarterly EPS growth. The company also announced a dividend...