Home / Knowledge / News / Apparel/Garments / Gildan Q3 consolidate net sales up 1.27%
Gildan Q3 consolidate net sales up 1.27%
Nov '15
Gildan Activewear, a Canada based manufacturer of branded apparel, posted consolidate net sales of $674.5 million for the third quarter of 2015 ending October 4, against consolidate net sales of $666 million for the corresponding quarter last year, showing a marginal increase of 1.27 per cent, according to a press statement released by the company.

The company posted net sales of $440.5 million during the quarter for its printwear segment, which is a rise of 1.1 per cent from the corresponding quarter last year ($435.8 million). Net sales recorded for its branded apparel segment was $234 million, which is a rise of 1.7 per cent from the corresponding quarter last year ($230.2 million).

However, net sales posted for the quarter was lower than the figure of $700 million stated in the company's guidance. This was due to lower than expected branded apparel sales, which was in turn impacted by lower inventory replenishment by a major US retailer and low demand during the back-to-school period.

Gildan reported adjusted net earnings of $126.4 million or $0.52 per share on a diluted basis for the quarter, up 2.9 per cent and 4 per cent respectively compared with adjusted net earnings of $122.8 million or $0.50 per share on a diluted basis for the same period last year.

The company generated $149.2 million of free cash flow after financing capital expenditures of $42.2 million in the third quarter. It ended the quarter with cash and cash equivalents of $47.1 million and outstanding bank indebtedness of $462 million.

Forecasting the outlook for the next quarter, the company said results for the fourth quarter are expected to be significantly in excess of earnings in the fourth quarter of any previous year, as the company benefits from manufacturing cost reductions from its capital expenditure programmes and lower cotton costs, combined with continuing top-line growth in sales revenues of both operating segments. (MCJ)

Fibre2Fashion News Desk — India

Must ReadView All

Textiles | On 22nd May 2017

GST to be biggest achievement of Modi govt: ASSOCHAM

Goods and Services Tax (GST) which is near a roll-out would be the...

Textiles | On 22nd May 2017

Maintaining NAFTA benefits is crucial: Cotton council

The US must remain a participant in a vibrant North American Free...

Apparel/Garments | On 22nd May 2017

Retailers ask Congress not to go for consumption tax

The National Retail Federation has asked US Congress to focus on...

Interviews View All

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Marcel Alberts

Coating at a fibre level is a practice not usually seen in the...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search