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Gildan Activewr - GIL STOCK NEWS

Welcome to our dedicated page for Gildan Activewr news (Ticker: GIL), a resource for investors and traders seeking the latest updates and insights on Gildan Activewr stock.

Gildan Activewear Inc. (GIL) is a leading vertically integrated manufacturer of basic clothing and activewear, renowned for brands like Gildan, Gold Toe, and Comfort Colors. This page serves as the definitive source for all official company announcements and market-moving developments.

Investors and industry professionals will find curated press releases covering quarterly earnings, strategic partnerships, manufacturing expansions, and product innovations. Our news collection enables stakeholders to track GIL's operational milestones within the global apparel sector, from supply chain initiatives to retail distribution updates.

All content is organized chronologically with clear sourcing to ensure transparency. Key coverage areas include sustainability progress, wholesale channel updates, and licensing agreements with major lifestyle brands. Bookmark this page for real-time access to GIL's financial communications and operational announcements that shape its market position.

Rhea-AI Summary
Gildan Activewear Inc. (GIL: TSX and NYSE) recently removed Glenn Chamandy as CEO and appointed Vince Tyra as the new CEO. The decision was based on Chamandy's struggle to find long-term organic growth, which eroded the Board's trust and confidence. The Board had a robust succession process, but Chamandy later attempted to entrench himself as CEO, leading to his removal and Tyra's appointment.
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Browning West (NYSE: GIL) increases its ownership position to ~4.8% of Gildan Activewear Inc. The investment management firm has publicly expressed concerns about the Board's actions and is prepared to requisition a special meeting to reconstitute the Board if shareholder feedback continues to be ignored.
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Oakcliff Capital Urges Gildan Activewear Inc. (NYSE: GIL) to Replace Chairman and Appoint Shareholder Representatives
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Anson Funds Management LP and Anson Advisors Inc., significant shareholders of Gildan Activewear Inc. (NYSE: GIL), express disappointment with the Gildan Board's handling of succession planning and call for the immediate reinstatement of Glenn Chamandy as CEO.
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Former President and CEO Glenn J. Chamandy of Gildan Activewear Inc. (TSX: GIL) (NYSE: GIL) refutes media reports about giving an ultimatum to Gildan's board regarding strategy or acquisitions. He emphasizes the importance of a successful leadership transition while preserving the company's talent, culture, and expertise, considering shareholder engagement integral to the decision-making process.
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Gildan Activewear Inc. (GIL: TSX and NYSE) announced a support agreement with Coliseum Capital Management, LLC, which will support Gildan’s full slate of Board nominees at the 2024 and 2025 Annual Meetings of Shareholders. Coliseum intends to make an additional investment in Gildan through market purchases during insider open window periods. Chris Shackelton, a Co-Founder and Managing Partner of Coliseum, has been invited to join Gildan’s Board of Directors and has been appointed effective today.
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Browning West LP, which beneficially owns approximately 3.9% of the outstanding shares of Gildan Activewear Inc. (NYSE: GIL) (TSX: GIL), criticizes the Board's CEO succession and judgment, outlines deficiencies in the CEO search criteria, and calls for the reinstatement of Glenn Chamandy as CEO.
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Gildan Activewear Inc. (TSX: GIL) (NYSE: GIL) CEO Glenn J. Chamandy terminated without cause after 40 years of service. Chamandy expresses pride in the company's success and gratitude to employees, shareholders, and customers.
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Gildan Activewear Inc. (GIL: TSX and NYSE) announced the appointment of Vince Tyra as President and CEO effective February 12, 2024. Craig A. Leavitt will serve as Interim President and CEO until then. The company remains focused on its Gildan Sustainable Growth strategy and its three key pillars: Innovation, Capacity-driven growth, and ESG.
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Gildan Activewear Inc. reported net sales of $870 million for Q3 2023, a 2% increase from the previous year. The company achieved an operating margin of 17.8% and a GAAP diluted EPS of $0.73. Cash flow from operations was $305 million, and free cash flow was $265 million. Gildan Activewear updated its fiscal 2023 guidance to the lower end of the previously provided revenue and EPS ranges.
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NYSE:GIL

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6.45B
147.50M
0.31%
83.27%
1.17%
Apparel Manufacturing
Consumer Cyclical
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