与此同时，Upwork(UPWK.US)将于同日开盘前取代Premier(PINC.US)，加入标普小盘600指数。值得注 意的是，Patient Square Capital对Premier 的收购预计将于11月25日完成。 First Interstate BancSystem(FIBK.US)将于12月2日开盘前取代哈尼斯品牌服装(HBI.US)，加入标普小盘 600指数。吉登运动服(GIL.US)对哈尼斯品牌服装的收购预计将于12月1日完成。 智通财经APP获悉，SanDisk(SNDK.US)将于2025年11月28日开盘前加入标普500指数，并取代埃培智 (IPG.US)的成份股席位。 PTC Therapeutics(PTCT.US)将于11月28日开盘前取代SanDisk，加入标普小盘600指数。 ...

Accessibility StatementSkip Navigation NEW YORK, Nov. 24, 2025 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P 500, S&PÂ SmallCap 600:Â Following is a summary of the changes that will take place prior to the open of trading on the effective date: S&P SmallCap 600 constituent Sandisk Corp. (NASD: SNDK) will replace The Interpublic Group of Companies Inc. (NYSE: IPG) in the S&P 500, and PTC Therapeutics Inc. (NASD: PTCT) will replace Sandisk in the S&P SmallCap 600 effective p ...

CorpGov and  IPO Edge are pleased to provide complete video coverage of the fifth annual Palm Beach CorpGov Forum held on Nov. 5-6, featuring a two-day event with panels, firesides and networking receptions. The event comprised an array of speakers from the worlds of corporate governance, activism, IPOs, private equity and venture capital. The panelists discussed the proxy fight case of Gildan Activewear Inc. (NYSE: GIL) and its activism elements, new proxy fight cases and what is expected to be different ...

Core Viewpoint - The news release discusses various forward-looking statements related to the company's strategic direction, potential risks, and uncertainties that could impact future results [1] Group 1: Strategic Plans and Business Environment - The company is focused on implementing strategic plans, including supply chain restructuring and cost-saving initiatives [1] - The rapidly changing retail environment and consumer demand levels are highlighted as significant factors affecting the company's performance [1] Group 2: Geopolitical and Economic Risks - Ongoing geopolitical conflicts, such as the Russia-Ukraine conflict and Middle East tensions, are noted as potential risks impacting consumer spending and global supply chains [1] - Legal, regulatory, and economic risks related to international operations, including duties and tariffs, are emphasized as critical considerations for the company [1] Group 3: Merger and Acquisition Considerations - The company is involved in a merger agreement with Gildan, which may face delays or challenges in closing due to stockholder and regulatory approvals [1] - There are concerns regarding the realization of expected benefits or synergies from the merger, which may take longer or be more costly than anticipated [1]

Core Insights - Gildan Activewear's Q3 earnings exceeded expectations, with adjusted per-share earnings at $1, surpassing analysts' estimates of $0.98 [1] - The company reported a 2.2% year-on-year growth in Q3 sales, reaching $911 million, driven by a 5.4% increase in the activewear segment [2] - Despite the sales increase, net earnings declined from $131.5 million in Q3 2024 to $120.2 million in Q3 2025 [3] Sales Performance - Activewear sales contributed positively with a 5.4% year-on-year increase due to a favorable product mix and higher net prices [2] - Hosiery and underwear sales experienced a significant decline, dropping over 22% year-on-year to $80 million, attributed to weak demand and unfavorable product mix [2] Acquisition Plans - The company plans to acquire HanesBrands for $2.2 billion in cash and stock, expected to close in late 2025 or early 2026 [4] - The CFO expressed confidence in the acquisition as a beneficial path forward for Gildan [4][5] Financial Guidance - Gildan adjusted its guidance for the remainder of 2025, raising its projected adjusted operating margin increase from 50 basis points to 70 basis points [6] - The company expects capital expenditures to be 4% of sales, down from the previously projected 5% [6] Supply Chain Considerations - Companies are hesitant to shift their supply chains to Gildan's vertical factories due to tariff-related uncertainties [7] - The CEO noted that supply chain adjustments should not be knee-jerk reactions, emphasizing the potential for further optimization and exploration of new product categories [8]

Core Insights - Gildan Activewear reported Q3 net sales of $911 million, a 2.2% increase year-over-year, aligning with previous guidance for low single-digit growth [1] - Operating income decreased by 0.4% to $192.1 million, while net profit fell by 8.6% to $120.2 million compared to Q3 2024 [1] Sales Performance - Activewear sales reached $831 million, up 5.4%, driven by a favorable product mix and higher net prices [3] - Hosiery and underwear sales dropped to $80 million, a decline of 22.1% year-over-year, attributed to lower sales volumes and a timing shift of shipments [4] - International sales decreased to $60 million, down 6.1% year-over-year, primarily due to ongoing demand softness across markets [4] Strategic Outlook - Gildan's CEO highlighted the effectiveness of the Gildan Sustainable Growth strategy in driving financial performance and expressed optimism about future growth, particularly with the upcoming acquisition of Hanesbrands [2][3] - The company maintains its full-year revenue growth guidance at mid-single digits for 2025, despite a challenging macroeconomic environment [5] - The full-year adjusted operating margin is projected to increase by approximately 70 basis points, exceeding previous guidance of 50 basis points [6]

Core Insights - The article highlights the expertise of an Asian equity market specialist with over a decade of experience in both buy and sell sides, focusing on value investing opportunities in Asia, particularly in the Hong Kong market [1] Group 1: Company Focus - The specialist is the author of the investing group Asia Value & Moat Stocks, which provides investment ideas for value investors [1] - The focus is on identifying deep value balance sheet bargains and wide moat stocks [1] - Monthly updates are provided through a range of watch lists within the investing group [1]

Core Insights - The article highlights the expertise of an Asian equity market specialist with over a decade of experience in both buy and sell sides, focusing on value investing opportunities in Asia, particularly in the Hong Kong market [1] Group 1: Company Focus - The specialist is the author of the investing group Asia Value & Moat Stocks, which provides investment ideas for value investors [1] - The focus is on identifying deep value balance sheet bargains and wide moat stocks [1] - Monthly updates are provided within the investing group, including a range of watch lists [1]

Group 1 - The article promotes a premium service called "Value in Corporate Events" that focuses on major corporate events such as earnings reports, M&A, and IPOs, providing actionable investment ideas [1] - The service aims to cover 10 major events per month, helping members identify the best investment opportunities [1] Group 2 - The article emphasizes the expertise of the leader of the investing group, who has a Master of Science in financial markets and a decade of experience in tracking companies through catalytic events [1]

Financial Data and Key Metrics Changes - The company reported third quarter sales of $911 million, a 2.2% year-over-year increase, aligning with previous guidance of low single-digit growth [10] - Activewear sales increased by 5.4%, driven by a favorable product mix and higher net prices [10] - Adjusted operating margins improved to 23.2%, reflecting an 80 basis point year-over-year increase, resulting in record adjusted diluted EPS of $1.00, up 17.6% from the previous year [5][15] Business Line Data and Key Metrics Changes - Sales in the hosiery underwear category decreased by 22% year-over-year, attributed to a timing shift of shipments and broader market weakness [11] - The Comfort Colors brand performed well, celebrating its 50th anniversary, and contributed to overall sales growth [7] - The company introduced new brands such as All Pro and Champion, which are expected to drive further growth [6] Market Data and Key Metrics Changes - International sales declined by $4 million, or 6.1% year-over-year, primarily due to ongoing demand softness across markets [11] - Sales to North American distributors remained solid, supported by sustained momentum from national account customers [10] Company Strategy and Development Direction - The company is focused on executing its Gildan Sustainable Growth (GSG) strategy, leveraging a large-scale, low-cost, vertically integrated manufacturing network [8] - The proposed acquisition of Hanesbrands is expected to close late this year or early 2026, with anticipated run-rate synergies of at least $200 million [8] - The company is capitalizing on its largest innovation pipeline in history, with more product launches planned for 2025 and 2026 [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to deliver strong financial performance despite a fluid macroeconomic environment [5] - The outlook for 2025 includes revenue growth in the mid-single digits and an increase in adjusted operating margins by approximately 70 basis points [18] - Management noted that the market remains stable, with expectations for growth in the innerwear category in Q4 [24][46] Other Important Information - The company generated approximately $189 million in free cash flow in the first nine months of 2025, with $200 million generated in the third quarter [16] - The company ended the quarter with net debt of about $1.7 billion, maintaining a leverage ratio of 2x net debt to trailing twelve months Adjusted EBITDA [16] Q&A Session Summary Question: Can you discuss the weakness in the Underwear business and market share? - Management noted that the innerwear business faced delays in floor sets by large retailers and inventory management issues due to tariffs [23] - They expect a return to growth in Q4, with a stable market outlook [24] Question: What is driving the change in free cash flow guidance? - The change is attributed to transaction costs related to the Hanesbrands acquisition and timing issues with working capital [29] Question: How is the Fleece business trending with changing weather? - The Fleece business is performing well, with sales meeting expectations as the season progresses [38] Question: What is the competitive landscape like regarding tariffs? - Management indicated that there is uncertainty in the market, but they are well-positioned to optimize their supply chain and capitalize on opportunities [40] Question: Can you comment on inventory levels and tariff costs? - Inventory levels are slightly higher due to tariff costs, but the company is well-positioned for availability and control of working capital [81] Question: How will the Hanesbrands acquisition impact organic growth? - The company anticipates net sales to grow at a rate of 3%-5% CAGR over the next three years post-acquisition [85]