Gildan 2Q19 sales increased 4.9% to $801.6 million, driven by activewear sales and consistent with analyst expectations.
Gildan Activewear is a leading Canadian marketer and manufacturer of a range of apparel goods headquartered in Montréal. In 2018 Gildan consolidated its organizational structure, combining two segments, Printwear and Branded Apparel, into one, combining marketing, merchandising, sales, distribution and administrative functions as well. Primary product categories include activewear, socks, underwear, hosiery and intimates sold to wholesale distributors, screenprinters or embellishers, and retailers as well as direct to consumer through Gildan-branded platforms. Gildan is one of the largest vertically integrated apparel manufacturers, encompassing yarn production, textile manufacturing and final product assembly.
Updates Outlook, Announces International Capacity Expansion
Gildan 4Q18 sales rose 13.6% driven by a 22.3% increase in activewear sales. Adjusted operating margin expanded 230 bps due to a 300 bps decline in the SG&A expense ratio. The company’s 2019 outlook includes a 10% increase in adjusted EPS and mid-single-digit sales growth.