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 2nd May 2016

Maharashtra to develop Amravati as textile city

For years, Amravati in Mahasrashtra has been infamous for farmers’...

Cité de la Mode et du Design, Spinexpo's Paris venue.

Textiles | On 2nd May 2016

Spinexpo expands in Europe with debut fair in Paris

Spinexpo, an international trade exhibition for fibres, yarns,...

Apparel/Garments | On 2nd May 2016

UK online delivery volumes match IMRG Q1forecast

Online retail delivery volumes were up 12.7 per cent year-on-year in...

Interviews View All

Rajiv Sirohi
Shara

What kind of fabric is in demand in export markets of home textiles? What...

Stephan Hohmann
HANRO

What are the major changing trends in the global fashion market and the...

Jeff Dixon
Navis Global

What is the most challenging aspect of textile finishing machinery...

Dr. Andreas Schmidt
Department Function and Care, The Hohenstein Institute

Dr. Andreas Schmidt is Director of Department Function and Care, The...

Brian J. McCarthy
TechniTex Faraday Limited

Mr. Brian J. McCarthy is the Director of TechniTex Faraday Limited Sector, ...

Mr. Narendra Dalmia
Strata Geosystems (India) Pvt. Ltd.

Mr. Narendra Dalmia has a experience of about 35 years in a wide variety...

Jay Ramrakhiani
Occasions Elegance Wear

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

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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
April 2016

F2F Magazine

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

SUBSCRIBE


Browse Our Archives

GO


<%@ language="VBScript" %>
feedback
We would love to hear from you about your experience using the new interface. A quick review of yours would help us give you a better experience.
Advanced Search