Q4FY17 sales climb 8.1% at Gildan Activewear

01 Mar '17

1 min read

For the three months ended January 1, 2017, net sales at Canadian apparel retailer Gildan Activewear climbed 8.1 per cent to $587.9 million as against $543.8 in the corresponding quarter of the previous fiscal. The 8.1 per cent rise reflects sales increases of 14.4 per cent and 1.2 per cent in the Printwear segment and Branded Apparel segment, respectively.

In the fourth quarter of fiscal 2017, consolidated gross margin stood at 26.7 per cent, flat over the prior fiscal’s fourth quarter, as the benefits from lower raw material and other input costs were largely offset by lower net selling prices.

Operating margins and adjusted operating margins in the reporting quarter were same at 11.9 per cent, compared to 13.0 per cent and 13.2 per cent, respectively in the fourth quarter of fiscal 2016.

Net earnings were higher at $74.3 million or $0.32 per diluted share for the three months ended January 1, 2017, compared with net earnings of $67.6 million or $0.28 per share for the three months ended January 3, 2016. (AR)

Fibre2Fashion News Desk – India

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