Home / Knowledge / News / Apparel/Garments / Gildan sales rise 7.3% for Q4 FY'14
Gildan sales rise 7.3% for Q4 FY'14
06
Feb '14
Gildan Activewear Inc. announced its results for its first fiscal quarter ended December 29, 2013. Adjusted net earnings of U.S. $0.35 per share were a record for the first quarter of a fiscal year, which is seasonally the lowest sales quarter for T-shirts in the fiscal year, and at the top end of the guidance range which the Company had provided on November 21, 2013. 
 
The Company also reconfirmed its prior guidance for the full 2014 fiscal year for EPS, sales revenues, capital expenditures and free cash flows. In addition, the Company provided sales and EPS guidance for its second fiscal quarter. 
 
First Quarter Results 
Net earnings were U.S. $41.7 million or U.S. $0.34 per share on a diluted basis for the first fiscal quarter ended December 29, 2013, compared with net earnings of U.S. $35.3 million or U.S. $0.29 per share for the first quarter of fiscal 2013.
 
Before reflecting restructuring and acquisition-related costs in both years, adjusted net earnings for the first quarter of fiscal 2014 were U.S. $43.3 million or U.S. $0.35 per share, up 10.7% and 9.4%, respectively compared to adjusted net earnings of U.S. $39.1 million or U.S. $0.32 per share in the first quarter of the previous year. 
 
The growth in earnings and EPS in the first quarter compared to last year was primarily due to growth in sales revenues in both of the Company’s operating segments, partially offset by higher selling, general and administrative expenses.
 
Net sales in the first quarter amounted to U.S. $451.4 million, up 7.3% from U.S. $420.8 million in the first quarter of fiscal 2013. The Company had projected net sales for the quarter of approximately U.S. $450 million. 
 
Net sales for the Printwear segment amounted to U.S. $261.8 million, up 7.4% from U.S. $243.7 million in the first quarter of fiscal 2013. 
 
Click here to view full results.

Gildan

Must ReadView All

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Marcel Alberts
Eurofibers

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

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search