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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 Activewear announced key executive leadership changes effective March 1, 2025. Chuck Ward, current President of Sales, Marketing and Distribution, will become Executive Vice President and Chief Operating Officer. Additionally, Rhodri J. Harries, EVP and Chief Financial and Administrative Officer, will retire on January 1, 2026, with Luca Barile, current CFO of Sales, Marketing and Distribution, succeeding him as EVP and CFO.
Ward, who joined Gildan in 2011 through the GoldToe Moretz acquisition, brings extensive experience in manufacturing, yarn spinning operations, and supply chain planning. Barile, who started at Gildan in 2012, has progressed through various financial roles including Financial Planning and Analysis, Internal Audit, and Enterprise Risk Management.
The transitions are part of Gildan's multi-year succession planning process, aimed at ensuring continuity in executing the company's Sustainable Growth Strategy. Harries will facilitate a 10-month transition period, maintaining his Chief Administrator Officer role until retirement.
Gildan Activewear reported record Q4 2024 results with net sales of $822 million, up 5% year-over-year. The company achieved a Q4 operating margin of 21.8% and adjusted operating margin of 21.3%. Full-year 2024 revenue reached $3,271 million with adjusted operating margin of 21.3%.
Key Q4 highlights include Activewear sales of $714 million (up 11%), driven by higher volumes and strong market response to new products. International sales increased by 20%. The company generated Q4 cash flow from operations of $211 million and returned $246 million to shareholders through dividends and share repurchases.
For 2025, Gildan expects mid-single-digit revenue growth, adjusted operating margin improvement of approximately 50 basis points, and adjusted diluted EPS between $3.38-$3.58. The company also announced a 10% dividend increase for 2025.
Gildan Activewear (GIL) has announced it will release its fourth quarter and full year 2024 financial results on Wednesday, February 19th, 2025, before markets open. The company will host a conference call at 8:30 AM ET on the same day to discuss the results.
Investors and analysts can join the call by dialing (800) 715-9871 from Canada & U.S. or (646) 307-1963 internationally, using passcode 3105768#. A replay will be available for 7 days starting at 12:30 PM EST, accessible via (800) 770-2030 (Canada & U.S.) or (609) 800-9909 (international). An audio webcast and replay will also be available online.
Gildan has announced a significant charitable contribution of $200,000 worth of American Apparel® and Gildan® garments to FireAid, a benefit concert supporting Los Angeles wildfire victims. The donated apparel will be sold at the event, with all proceeds directed towards both immediate relief efforts and long-term fire prevention initiatives in Southern California.
The FireAid concert, scheduled for January 30, 2025, will feature dual performances at the Intuit Dome and Kia Forum in Los Angeles. The event will be accessible through multiple broadcast and streaming platforms, including select AMC Movie Theaters. Chuck Ward, President of Sales, Marketing and Distribution at Gildan, emphasized the company's commitment to responsible manufacturing and community support in regions where they operate.
Gildan is showcasing its latest product innovations and styles at the Impressions Expo Long Beach, featuring updates across its brand portfolio including Gildan®, Comfort Colors®, American Apparel®, and Champion®. Key highlights include:
The company introduced new Plasma Print Technology for enhanced direct-to-garment printing and Soft Cotton Technology for improved fabric quality. Gildan® is launching new styles in its Light Cotton™, Hammer Maxweight, and Softstyle™ Midweight Fleece collections.
Comfort Colors® celebrates its 50th anniversary with new colors in popular styles and upcoming women's silhouettes for 2026. American Apparel® unveiled new colors in iconic styles and introduced a Super Heavyweight collection. Through a licensing agreement with Authentic Brands Group, Gildan is presenting Champion®'s athletic apparel collection featuring various styles.
Gildan Activewear (TSX:GIL)(NYSE:GIL) has secured its position in the Dow Jones Sustainability North America Index for the 12th consecutive year, as announced on January 6, 2025. The company achieved remarkable performance, ranking in the 98th percentile among 189 companies in the Textiles, Apparel, and Luxury Goods industry, and stands as the only apparel manufacturing company included in the DJSI North America.
CEO Glenn Chamandy emphasized that ESG remains integral to Gildan's long-term business strategy, with their Next Generation ESG strategy embedded within the Gildan Sustainable Growth initiative. The DJSI, representing the top 20% of the largest 600 North American companies in the S&P Global Broad Market Index, evaluates companies based on Environmental, Social, Governance & Economic criteria using a best-in-class approach.
Gildan Activewear (GIL: TSX and NYSE) has achieved a significant milestone by being included in the Dow Jones Sustainability™ North America Index (DJSI North America) for the 12th consecutive year. The company demonstrated exceptional ESG performance, ranking in the 98th percentile among 189 companies in the Textiles, Apparel, and Luxury Goods industry, and stands as the only apparel manufacturing company in the index.
The DJSI North America represents the top 20% of the largest 600 North American companies in the S&P Global Broad Market Index, evaluating companies based on Environmental, Social, Governance & Economic criteria. Gildan's consistent inclusion reflects its two-decade commitment to sustainability, with its Next Generation ESG strategy integrated into the company's Sustainable Growth strategy.
Gildan Activewear has successfully raised over CAN$150,000 through a three-week internal campaign at its Canadian head office to support Centraide, an organization helping families overcome poverty, homelessness, and isolation in the Greater Montreal region. The fundraising combines employee contributions, campaign activities, and company matching. The initiative aligns with Gildan's Next Generation ESG strategy goal of allocating 1% of pre-tax earnings to community investment by 2026.
The funds will support Montreal-based agencies that assist approximately 315,000 people living in poverty, addressing issues such as financial insecurity, family isolation, educational support, youth employment, and social exclusion.
Gildan launched its first Global Employee Volunteer Month, engaging approximately 670 employees who contributed 3,800 hours to community service worldwide. The initiative aligned with the company's Community Investment Policy and Next Generation ESG strategy, focusing on education, environment, and community support.
Key activities included: partnering with First Book Canada to create libraries for 110 children from low-income communities; environmental education programs in Honduras with World Vision; distributing educational kits to over 3,500 students in the Dominican Republic; planting 7,500 trees in Nicaragua; providing school supplies to 500 students in Bangladesh; and supporting 2,200 U.S. students with backpack distributions. Australian employees also participated by packing care kits with clothing for communities in need through Good 360.
Gildan Activewear marked two significant milestones by ringing the Opening Bell at the NYSE: its 40th anniversary as a company and 25th anniversary of NYSE listing. President and CEO Glenn J. Chamandy led the ceremony, accompanied by senior leadership and board members. The company highlighted its position as one of the largest U.S. cotton consumers, emphasizing its vertically integrated manufacturing model. Gildan's four-decade journey showcases growth and commitment to sustainable practices, focusing on worker welfare, community support, and environmental initiatives while executing its Sustainable Growth strategy.
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