Welcome to our dedicated page for Gildan Activewear news (Ticker: GIL), a resource for investors and traders seeking the latest updates and insights on Gildan Activewear stock.
Gildan Activewear Inc. (NYSE: GIL, TSX: GIL) stands as a paramount name in the basic apparel industry, revered for its extensive array of branded family apparel. Established in 1984 and headquartered in Montreal, Canada, Gildan has carved out a robust presence in the global market.
Company Overview:
Gildan's product portfolio is expansive, encompassing T-shirts, fleece, sport shirts, underwear, socks, hosiery, and shapewear. The company markets these products under a diversified range of owned brands such as Gildan®, Gold Toe®, Anvil®, and Comfort Colors®. Additionally, Gildan holds licenses for prominent brands including Under Armour® for socks, and Mossy Oak® and New Balance® for other apparel categories.
Market and Distribution:
Gildan is a key supplier in the printwear market across the United States and Canada, and has also established significant footprints in Europe, the Asia-Pacific region, and Latin America. The company serves a wide spectrum of customers, including wholesale distributors, major clothing brands, and screen printers. Moreover, Gildan’s retail initiatives span across North America, offering products directly to consumers through both physical stores and e-commerce platforms.
Manufacturing and Operations:
Gildan operates a vertically integrated business model, owning and managing large-scale manufacturing facilities primarily located in Central America, the Caribbean Basin, North America, and Bangladesh. This integration allows Gildan to maintain stringent quality control and reduce production costs, ensuring competitive pricing.
Recent Achievements and Projects:
Recently, Gildan has expanded its manufacturing capabilities with the opening of a new facility in Bangladesh, bolstering its production capacity. The company has also reaffirmed its commitment to Environmental, Social, and Governance (ESG) principles, aiming to achieve ISO 45001 certification across all its facilities by 2028.
Financial Health and Performance:
In the first quarter of 2024, Gildan reported net sales of $696 million, reflecting a slight 1% decline compared to the previous year. However, the company demonstrated strong gross profit margins at 30.3%, an improvement from the prior year. Gildan continues to focus on strategic priorities aimed at unlocking the next phase of its growth, with a solid financial outlook for 2024.
Employee Welfare and Safety:
Gildan's commitment to employee welfare is evident in its extensive health and safety initiatives, including on-site healthcare services, health fairs, and mental health support. These efforts are part of Gildan’s broader ESG strategy to foster a safe and supportive work environment for its approximately 45,000 employees worldwide.
For more detailed and updated information, including recent news and financial performance, visit Gildan’s official website or their profile on major financial news platforms.
Gildan's Australian office achieved a significant milestone in 2023 by having all employees certified in mental health first aid. The initiative, led by Sales Director David Hillen, began after his personal experience helping a colleague with mental health issues. The certification program, provided by Mental Health Foundation Australia, equipped employees with tools to identify and support individuals facing mental health challenges. The office-wide implementation has resulted in more open discussions about mental health and created a safer workplace environment. Hillen, who became a certified trainer himself, successfully gained management support and gradually implemented the program, which covers four broad mental health topics and practical intervention strategies.
Gildan highlights its commitment to employee development through comprehensive Learning and Development (L&D) initiatives. The company's administrative employees completed over 35,000 training hours through Gildan Academy in 2023, while total organization-wide training reached 2.5 million hours. Key programs include the Leading the Gildan Way program, which has trained over 600 managers across eight countries, and the Women in Leadership program, with a 45% promotion rate among graduates. The company implements various development tools including online resources, mechanic training programs, and Six Sigma Academy, all aligned with Gildan's competency framework focusing on five core competencies.
Gildan Activewear (GIL) reported record Q3 2024 results with net sales of $891 million, up 2.4% year-over-year. The company achieved an operating margin of 21.7% and adjusted operating margin of 22.4%. Activewear sales increased 6% to $788 million, driven by higher volumes and positive POS in North America. Hosiery and underwear sales declined 18% to $103 million due to the Under Armour phase-out. The company generated $178 million in operating cash flow and returned a record $404 million to shareholders through dividends and share repurchases. Gildan updated its 2024 guidance, expecting low-single-digit revenue growth and adjusted diluted EPS of $2.97-$3.02.
In celebration of Hispanic Heritage Month, Gildan launched an internal and social media campaign highlighting employees of Hispanic heritage in North America. The initiative aimed to recognize the significant influence of Hispanic culture on the company's environment and operations. Three employees were featured, sharing their journeys at Gildan and how they celebrate their heritage:
1. Nills Leiva, Senior Manager of IT Support, originally from Guatemala City
2. Ana Camposeco, Training Coordinator, born in Guatemala
3. Joseph Roman, Shipment Processor, with roots in Puerto Rico
The campaign fostered appreciation for diversity and promoted inclusivity within the organization. Shannon Preston, Vice-President of Human Resources at Gildan, emphasized the importance of this cultural exchange in creating an inclusive work environment.
Gildan Activewear Inc. (GIL) has announced the date for its 2024 third quarter earnings release. The company will report its results on Thursday, October 31st, 2024, before markets open. A conference call is scheduled for the same day at 8:30 AM ET to discuss the results.
Investors can access the conference call by dialing (800) 715-9871 (Canada & U.S.) or (646) 307-1963 (international) and entering passcode 7966565#. A replay will be available for 7 days starting at 12:30 PM EST. Additionally, a live audio webcast of the conference call and its replay will be accessible online.
In 2023, Gildan's Australian office achieved full certification in mental health first aid, empowering employees to identify and support those in need. David Hillen, Sales Director at Gildan, spearheaded this initiative after a personal experience with a colleague facing mental health issues. Hillen pursued certification through the Mental Health Foundation Australia (MHFA) and became a certified trainer to make the course more accessible to his network.
The initiative gained support from senior management and gradually spread throughout the office. The course covered four broad mental health topics, teaching participants to recognize warning signs and intervene effectively. As a result, the office has seen increased openness in discussing mental health and created a safer work environment. Hillen encourages others to take the first step in advocating for causes they're passionate about, emphasizing the potential for significant impact within a global organization like Gildan.
Gildan Activewear's summer internship program welcomed over 30 interns across offices in Canada, Barbados, and the United States in 2024. The program offers opportunities for students and recent graduates to support various functions, develop skills with experienced mentors, and network with professionals. Shannon Preston, Vice-President of Human Resources, emphasizes the program's role in inspiring responsible future leaders.
Seven interns shared their experiences, highlighting diverse projects and learning opportunities. Interns worked in areas such as Customer Service, SOX Compliance, Corporate Marketing and Communications, Legal, Human Resources, and Digital Marketing. They valued the chance to take ownership of projects, collaborate with different departments, and gain insights from company leaders. The program included activities like lunch and learns, workshops, and the celebration of Gildan's 40th anniversary.
Gildan Activewear (GIL: TSX and NYSE) has announced its participation in the 28th Annual Scotiabank Back to School Conference in Toronto on September 18, 2024. Glenn J. Chamandy, President & CEO, and Rhodri J. Harries, Executive Vice-President, CFO and CAO, will represent the company. They will engage in a fireside chat and conduct one-on-one meetings with investors during the event. This conference provides an opportunity for Gildan to interact with the investment community and potentially discuss the company's performance, strategies, and outlook.
Gildan Activewear reported Q2 2024 results with net sales of $862 million, a 3% increase from last year. The operating margin was 16.4%, and adjusted operating margin stood at 22.7%. The company achieved a GAAP diluted EPS of $0.35 and an adjusted diluted EPS of $0.74, marking a 17% year-over-year increase.
Gildan generated cash flow from operations of $140 million and free cash flow of $104 million. The company returned $182 million to shareholders through dividends and share repurchases and announced a repurchase plan for up to 10% of its public float.
The company reconfirmed its full-year 2024 guidance, projecting revenue growth in the flat to low single-digit range and adjusted diluted EPS between $2.92 and $3.07.
Gildan also outlined a three-year outlook with mid-single-digit annual sales growth and mid-teen adjusted diluted EPS growth.
Gildan Activewear Inc. (NYSE: GIL) has announced the date for its 2024 second quarter earnings release. The company will report its Q2 results on Thursday, August 1st, 2024, before markets open. A conference call is scheduled for the same day at 8:30 AM ET to discuss the results.
Investors and analysts can access the call by dialing (800) 715-9871 (Canada & U.S.) or (646) 307-1963 (international) with passcode 5492469#. A 7-day replay will be available starting at 12:30 PM EST. Additionally, a live audio webcast and replay of the conference call will be accessible online.
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