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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 Inc. (GIL) will announce its 2021 second quarter results on August 5, 2021, with a press release before market opening. A conference call at 8:30 AM ET will discuss the results, accessible via phone and online. The company operates major apparel manufacturing facilities in Central America, the Caribbean, North America, and Bangladesh, and emphasizes strong labor and environmental practices. Gildan markets various apparel products globally under multiple brand names, including Gildan, American Apparel, and Under Armour.
The U.S. Cotton Trust Protocol has welcomed Gildan Activewear as a member, enhancing their commitment to sustainable and ethical supply chain practices. Gildan, a major manufacturer of everyday apparel, emphasizes the importance of U.S. cotton in their products. CEO Glenn Chamandy highlighted that joining the Protocol will increase transparency and ensure that their cotton supply is sustainably produced. The program aims to improve sustainability metrics including land use and water management, reinforcing Gildan's commitment to responsible sourcing.
On May 6, 2021, Gildan Activewear Inc. (GIL) conducted its virtual annual meeting where all ten proposed director nominees were successfully elected. However, a significant majority of shareholders opposed the advisory vote on executive compensation, with only 40.86% in favor. The company will consider these results in future compensation decisions. The voting results displayed a substantial majority for director elections, reflecting shareholder confidence, but the rejection of the compensation proposal indicates concerns about executive pay practices.
Gildan Activewear reported strong Q1 2021 results with sales of $590 million, a 28% increase from last year. GAAP diluted EPS was $0.50, boosted by a $0.09 one-time benefit from the USDA's Pandemic Assistance for Cotton Users (PACU). Gross margin improved to 32.0%, supported by effective cost management and the Back to Basics strategy. The company reinstated its quarterly dividend at $0.154 per share, payable on June 21, 2021, reflecting confidence in financial recovery. Free cash flow was $38 million for the quarter, and available liquidity stood at $1.6 billion.
Gildan Activewear Inc. (GIL) will announce its 2021 Q1 results on May 5, 2021, after market close. A conference call will follow at 5:00 PM ET, accessible by phone or via a live audio webcast. Additionally, the annual shareholders' meeting is set for May 6, 2021, at 10:00 AM ET, held virtually due to COVID-19. Shareholders can participate online, vote, and submit questions. Gildan operates with a commitment to responsible manufacturing practices across its global operations.
Gildan Activewear (GIL) reported strong Q4 results with sales of $690 million, a 4.8% increase year-over-year, and adjusted diluted EPS of $0.45, up 9.8%. The operating margin improved to 15.3%, supported by a 6% reduction in SG&A expenses. Despite challenges from hurricanes in Central America, the company achieved record free cash flow of $278 million. Inventory levels dropped significantly, and net debt decreased to $577 million. Full-year 2020 sales totaled $1.98 billion, down 29.8% due to COVID-19 impacts. Gildan remains focused on its 'Back to Basics' strategy for recovery and growth.
MONTREAL, Feb. 04, 2021 – Gildan Activewear (GIL) will announce its 2020 fourth quarter and full year results on February 25, 2021. A press release will be available before market opening, followed by a conference call at 8:30 AM ET to discuss the results and future business outlook. Investors can access the call or the replay through designated phone numbers or via the audio webcast.
Gildan is a top apparel manufacturer known for its diverse brand portfolio and commitment to responsible practices.
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