Published
Feb 25, 2016
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Gildan’s profits soar due to printwear and apparel

Published
Feb 25, 2016

Gildan Activewear Inc. announced on Wednesday fourth quarter sales and earnings. 

Strong sales in printwear and branded apparel led the Canadian company to net earnings of U.S. $67.6 million in the fourth quarter. Overall sales amounted to U.S.$543.8 million and were up 39.2 percent from the previous year.

Gildan announces fourth quarter results - facebook.com/GildanOnline


Gildan says the number reflects an increase of 37 percent in the sales of their printwear segment and an increase of 12.4 percent in sales of branded apparel.

Net sales for the printwear segment for the three months ended January 3, 2016, amounted to U.S. $284.9 million compared to U.S. $160.3 million last year, while net sales for branded apparel were U.S. $258.9 million up from U.S. $230.3 million reflecting increased sales in all product categories.

Most notable were sales of underwear which was up by more than 20 percent. The company doubled its retail door count for underwear, with Gildan branded underwear selling in approximately 18,000 retail doors at the end of the year.

Year-to-date sales amounted to U.S. $2,568.7 million and net earnings for the 2015 calendar were up 25.1 percent to U.S. $346.1 million.

For 2016, the Montreal-based company is projecting adjusted earnings per share of U.S. $1.50 to U.S. $1.60 on a diluted basis, and is estimating the 2016 sales year will be above US$2.6 billion. 

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