Gildan Activewear (NYSE:GIL) stock is on the rise Wednesday as investors react to the apparel company confirming reports that it’s considering a sale of the business.According to the latest reports, private equity firm Sycamore Partners is considering a bid for Gildan Activewear. This comes as activist investors have been fighting with the Board of Directors over the future of the company.Gildan Activewear responded to these reports by confirming it has received a confidential non-binding expression of inte ...

Gildan Activewear (GIL) shares soared 10.1% in the last trading session to close at $37.22. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 2.1% loss over the past four weeks.The company has been benefiting from its Gildan's Sustainable Growth strategy, as well as its core pillars dedicated toward innovation, manufacturing capacity, and ESG. Despite a challenging landscape, the company drove market share gains across its core pro ...

Key TakeawaysTrading in shares of Gildan Activewear was paused Tuesday after the stock jumped following reports the board of directors was considering selling the company. The Montreal-based apparel maker's board is in the middle of a heated battle with institutional investors led by Browning West LP.Investors are seeking to reconstitute the company's board and reinstate co-founder Glenn Chamandy as CEO. Chamandy was abruptly ousted last December. Trading in shares of Gildan Activewear (GIL) was paused on ...

MONTREAL, March 19, 2024 (GLOBE NEWSWIRE) -- Gildan Activewear Inc. (GIL: TSX and NYSE) ("Gildan" or "the Company") today issued the following statement in response to recent media reports: "In response to the receipt of a confidential non-binding expression of interest to acquire Gildan, Gildan's Board formed a Special Committee of independent directors to, among other things, review and consider the merits of the proposal and any alternative transaction, including maintaining the status quo and continuing ...

LOS ANGELES--(BUSINESS WIRE)--Browning West, LP (together with its affiliates, “Browning West” or “we”), which is a long-term shareholder of Gildan Activewear Inc. (NYSE: GIL) (TSX: GIL) (“Gildan” or the “Company”) and beneficially owns approximately 5.0% of the Company’s outstanding shares, today issued the below statement regarding the Company’s apparent decision to leak a meritless letter it sent to a U.S. regulator to a Canadian news outlet. “ It is unfortunate that the Board is acting in a desperate, ...

LOS ANGELES--(BUSINESS WIRE)--Browning West, LP (together with its affiliates, “Browning West” or “we”), which is a long-term shareholder of Gildan Activewear Inc. (NYSE: GIL) (TSX: GIL) (“Gildan” or the “Company”) and beneficially owns approximately 5.0% of the Company’s outstanding shares, today issued the below statement. “ Recent media coverage and an independent research report suggest the Board has presided over an egregious failure of due care and judgement by overlooking Mr. Tyra’s seemingly inappr ...

(all amounts are in U.S. dollars except where otherwise indicated) (1) Please refer to "Definition and reconciliation of non-GAAP financial measures" in this press release Gildan Activewear Reports Strong Fourth Quarter Results and Initiates Guidance for 2024 Montreal, Wednesday, February 21, 2024 - Gildan Activewear Inc. (GIL: TSX and NYSE) today announced results for the fourth quarter and year ended December 31, 2023, and initiated annual guidance for 2024. In addition, the Company announced a dividend i ...

Financial Data and Key Metrics Changes - The company reported net sales of $870 million for Q3 2023, an increase of 2% year-over-year, with operating margins at 18.1% [6][12] - GAAP EPS and adjusted EPS were reported at $0.73 and $0.74 respectively [6][12] - Operating income reached $305 million, and free cash flow was $265 million, allowing for active capital allocation including share buybacks [7][13] - Gross margin was 27.5%, down 220 basis points year-over-year, primarily due to higher raw material costs [11] Business Line Data and Key Metrics Changes - Activewear sales were essentially flat at $744 million, while hosiery and underwear sales increased by 16% [8] - Strong performance in fleece and ring-spun products contributed positively to Activewear, despite lower shipments of basic T-shirts [8][10] - Hosiery and underwear categories showed increasing momentum, particularly with new underwear programs driving market share gains [10] Market Data and Key Metrics Changes - International market sales were down 23% due to lower demand and price pressures [9] - In Europe, POS was up low single digits, but de-stocking occurred, while Asia saw declines in the high single digits to low double digits [24] - The U.S. market remained strong with positive POS trends in both Activewear and hosiery categories [25] Company Strategy and Development Direction - The company is focused on maintaining growth momentum and strong operating margins despite a challenging environment [7][16] - There is an emphasis on product innovation and optimizing manufacturing to strengthen competitive cost structures [16][61] - The company is actively pursuing market share gains in key categories, particularly in ring-spun and fleece segments [105] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to maintain growth despite inflationary pressures and uncertain macroeconomic conditions [16][17] - The outlook for Q4 includes expectations for revenue growth, although guidance has been adjusted to the lower end due to softness in certain markets [14][15] - The company anticipates strong free cash flow generation above $425 million for the full year [15] Other Important Information - The company is ramping up its new Bangladesh facility, expecting to reach an exit capacity rate of around 25% by the end of 2023 [13][94] - There is a focus on innovation in materials and product design to enhance market competitiveness [99][101] Q&A Session Summary Question: Can you talk about the international markets where you saw weakness? - Management confirmed that international markets contributed to the guidance change, with specific challenges in Europe and Asia due to inflationary pressures and de-stocking [22][24] Question: What changed in the U.S. business outlook? - The U.S. business is performing well, with positive POS trends, although some de-stocking is anticipated in Q4 [25] Question: Can you provide guidance on POS trends in the U.S. for Activewear? - POS in Activewear is running mid-single digits positive, driven by strong fleece and ring-spun growth [29] Question: What are the implications of the potential global minimum tax? - The company is monitoring developments closely and assessing the impact of various incentive programs in different jurisdictions [32][38] Question: Can you elaborate on the ring-spun business performance? - The ring-spun category is seeing strong trends and market share gains, supported by low-cost manufacturing investments [40][88] Question: What is the outlook for gross margin and SG&A in Q4? - Management expects sequential improvement in gross margin due to lower fiber costs, with SG&A spending remaining consistent [42][43] Question: How is the ramp-up of the Bangladesh facility progressing? - The facility is expected to reach 25% capacity by the end of Q4 2023, with plans to increase to 75% by Q4 2024 [94] Question: What type of innovation is being pursued? - The company is focusing on improving fabrications and product designs, including enhancements for digital printing [99][100]

2023 Third Quarter Shareholder Report Additional information about Gildan, including our 2022 Annual Information Form, is available on our website at www.gildancorp.com, on the SEDAR website at www.sedar.com, and on the EDGAR section of the U.S. Securities and Exchange Commission website (which includes the Annual Report on Form 40-F) at www.sec.gov. 2.0 CAUTION REGARDING FORWARD-LOOKING STATEMENTS Certain statements included in this MD&A constitute "forward-looking statements" within the meaning of the U.S ...

Gildan Activewear, Inc. (NYSE:GIL) Q2 2023 Earnings Conference Call August 3, 2023 8:30 AM ET Company Participants Jessy Hayem - Vice President, Head of Investor Relations Rhodri Harries - Executive Vice President, Chief Financial and Administrative Officer Glenn Chamandy - President and Chief Executive Officer Chuck Ward - President, Sales, Marketing and Distribution Conference Call Participants Jay Sole - UBS George Doumet - Scotiabank Stephen MacLeod - BMO Capital Markets Luke Hannan - Canaccord Vishal S ...