Home / Knowledge / News / Apparel/Garments / Gildan Activewear posts 12.9% hike in Q3FY'14 sales
Gildan Activewear posts 12.9% hike in Q3FY'14 sales
06
Aug '14
For the third quarter of fiscal year 2013-14, Canada based Gildan Activewear Inc. reported a 12.9% rise in sales.

Net sales in the third quarter amounted to U.S. $693.8 million, up 12.9% from U.S. $614.3 million in the third quarter of fiscal 2013, which is close to projected net sales for of U.S. $700 million estimated by Gildan, earlier.

Net earnings in the third quarter of fiscal 2014 were U.S. $116.0 million or U.S. $0.94 per share on a diluted basis, compared with net earnings of U.S. $115.8 million or U.S. $0.94 per share for the third quarter of fiscal 2013.

Before reflecting restructuring and acquisition-related costs, adjusted net earnings were U.S. $116.6 million or U.S. $0.95 per share on a diluted basis for the third fiscal quarter ended July 6, 2014.

Consolidated gross margins in the third quarter were 28.0% compared to 31.5% in the third quarter of last year. SG&A expenses in the third quarter were U.S. $71.8 million, compared with U.S. $69.9 million in the third quarter of last year.

As a percentage of sales, SG&A expenses declined to 10.3% from 11.4% a year ago, reflecting the benefit of volume leverage in Branded Apparel.

During the third quarter of fiscal 2014, Gildan generated U.S. $12.2 million of free cash flow, after financing capital expenditures of U.S. $75.5 million and an increase in accounts receivable. Inventories were maintained at the same level as the end of the second quarter.

The Company ended the third quarter with cash and cash equivalents of U.S. $45.1 million and outstanding bank indebtedness of U.S. $135.0 million.

For the first nine months of fiscal 2014, net sales revenue amounted to U.S. $1.7 billion, up 8.7% from U.S. $1.6 billion in the same period of last year.

Net earnings for the first nine months of fiscal 2014 were U.S. $236.9 million, or U.S. $1.92 per share on a diluted basis, compared to U.S. $223.4 million, or U.S. $1.82 per share, up 6.0% and 5.5% respectively compared to the first nine months of fiscal 2013.

Before reflecting after-tax restructuring and acquisition-related costs in both years, adjusted net earnings were U.S. $239.2 million or U.S. $1.94 per share in the first nine months of fiscal 2014, up 4.8% and 4.3% respectively compared to adjusted net earnings of U.S. $228.3 million or U.S. $1.86 per share in the same period last year.

The Company also announced plans for the construction of a new textile facility in the Rio Nance complex in Honduras.

Fibre2fashion News Desk - India


Must ReadView All

Union Minister for finance Arun Jaitley chairing the 25th GST Council meeting, flanked by minister of state for finance Shiv Pratap Shukla (right) and finance secretary Dr Hasmukh Adhia. Courtesy: PIB

Textiles | On 20th Jan 2018

GST rate on velvet fabric reduced to 5%

The 25th Goods and Services Tax (GST) Council meeting, held under the ...

RIL petrochemicals’ revenue grows 47.6% in Q3 FY18

Textiles | On 20th Jan 2018

RIL petrochemicals’ revenue grows 47.6% in Q3 FY18

The revenue from the petrochemicals segment at Reliance Industries...

Courtesy: Cotton USA

Textiles | On 20th Jan 2018

US cotton bodies pledge to support CCI activities

Ten US cotton organisations have pledged industry contributions in...

Interviews View All

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Urmil Arya

Sushila International, a well established textile organisation established ...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Giorgio Mantovani
Corman S.p.A

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

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Bani Batra

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

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

January 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


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