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Gildan Sales Soar 19.8% In 1q

(Filed Under Financial and General Interest News). Despite company claims that the first quarter is seasonally its lowest selling activewear season, Gildan Activewear still managed a 19.8 percent gain in net sales during the three months ended January 3, 2010, to $220.4 million from $184 million during the same period last year. Activewear and underwear sales grew a combined 32 percent, to $152.9 million from $115.8 million. Sales for socks were $67.5 million, relatively flat compared to sales of $68.2 million.

According to the company’s Q1 2010 report to shareholders released on February 9th, “The increase in sales of activewear and underwear in the quarter was due to a 31.5 increase in activewear unit sales volumes and a more favorable activewear product mix […] partially offset by lower activewear net selling prices of approximately 3.5 percent compared to the first quarter of fiscal 2009.”

The company also attributed the categories sales growth to increased market share in all product categories in the U.S. distribution channel, lower seasonal inventory destocking by distribution than in 2009, and increased penetration in international screenprinting markets. Net sales for the company’s international markets were up 82.8 percent, due to significantly higher shipments to Mexican and Asia/Pacific, as well as higher shipment volumes to all Europe markets, according to the company.

Headquartered in Montreal, Canada, Gildan Activewear is a major marketer and vertically integrated manufacturer of activewear, underwear and socks under private label and branded programs. At the end of the first quarter of fiscal 2010, the company employed 20,000 full-time employees. For further information, call (514) 735-2023.

more Financial and General Interest News >>

Published 02-11-2010 by Amanda Torres Price

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