Gildan Activewear (GIL) - 2022 Q4 - Annual Report

(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 Gross margin of 32.6% in the quarter was up 340 basis points over 2021 due mainly to the impact of additional hurricane insurance recoveries recognized in the fourth quarter of 2022. Before reflecting the net impact of accrued insurance recoveries in both years, adjusted gross margin of 29.1% was down 150 basis points compared to 30.6% la ...