Home / Knowledge / News / Apparel/Garments / Gildan posts Q1FY18 sales at $647.3 million
Gildan posts Q1FY18 sales at $647.3 million
May '18
Courtesy: Gildan Activewear
Courtesy: Gildan Activewear
Gildan Activewear has posted net sales of $647.3 million in the first quarter ended April 1, 2018, down 2.7 per cent compared to the prior year reflecting a 3.2 per cent increase in activewear sales and a 20.4 per cent decline in the hosiery and underwear category. However, the international sales for the reported quarter went up 24 per cent.

Gross margin in the first quarter of 2018 totaled 27.2 per cent. The decline was mainly due to the anticipated impact of higher raw material and other input costs, partly offset by higher net selling prices, including foreign exchange and the positive impact of a richer product-mix. SG&A expenses for the first quarter of 2018 amounted to $93.1 million, or 14.4 per cent of sales, compared to $89.2 million, or 13.4 per cent of sales, in the first quarter of 2017. The $3.9 million increase was primarily due to planned higher selling and distribution expenses related to the enhancement of the company's e-commerce and distribution capabilities, partly offset by cost reductions resulting from the company's recent organisational consolidation.

For the first quarter of 2018, the company generated operating income of $76.3 million and adjusted operating income of $82.7 million, down 18.0 per cent and 17.0 per cent, respectively, compared to the same period last year. Adjusted operating margin for the first quarter was 12.8 per cent compared to 15.0 per cent in the first quarter of 2017. Net earnings for the three months amounted to $67.9 million or $0.31 per share on a diluted basis, compared with net earnings of $83.5 million, or $0.36 per share on a diluted basis for the same period last year.

The company reaffirmed its full year 2018 financial guidance of adjusted diluted EPS in the range of $1.80 to $1.90 on projected net sales growth in the low to mid-single-digit range, adjusted EBITDA in the range of $595 to $620 million, and projected free cash flow of approximately $400 million for the year. The company continues to project capital expenditures of approximately $125 million for 2018.

Projected growth in adjusted diluted EPS for 2018 continues to reflect the projected impact of higher sales, anticipated cost reductions related to efficiency gains expected from the streamlining of the company's sales and marketing infrastructure in connection with its organizational consolidation, and the benefit of a lower share count compared to the prior year. These positive factors are projected to be partly offset by higher raw material and other input costs, expenses related to e-commerce and distribution initiatives to support direct-to-consumer fulfilment capabilities, and slightly higher income tax expense. The company continues to assume an income tax rate of approximately 4 per cent in 2018, Gildan press release said. (RR)

Fibre2Fashion News Desk – India

Must ReadView All

Pic: Shutterstock

Textiles | On 19th Jan 2022

Supply bottlenecks, high prices, omicron affect growth prospects: ECB

The global economy is on a recovery path, although persisting supply...

Pic: Shutterstock

Textiles | On 19th Jan 2022

Cargo flight sector in China recovers to near-2019 level

The air cargo industry in China has recovered, nearing the 2019...

Pic: Shutterstock

Textiles | On 19th Jan 2022

Inflation peaks months earlier in Turkey than expected

Turkish finance minister Nureddin Nebati said inflation would peak in ...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Next level is to inject new features:

Gaurav Davda, Jindal Worldwide Ltd

Gaurav Davda
Jindal Worldwide Ltd

Indian MMF sector to become globally competitive

Textile Industry, Head honchos

Textile Industry
Head honchos

Strongly believe in 'people first' policy.

Ujjval Saraf,

Ujjval Saraf

Founded by Jimmy Lai, Giordano International Ltd, a Hong Kong based...

Richard Armitage,

Richard Armitage

Adaptive Control automates, controls and monitors machines, systems and...

Harleen Kaur,

Harleen Kaur

Established in 2017 and headquartered New York, the label Harleen Kaur...

Shaan Sethi, Jaanuu

Shaan Sethi

Jaanuu, a vertically integrated e-commerce company, has reimagined the...

Silverio Baranzano, Fitesa

Silverio Baranzano

Fitesa is a leader in the nonwoven fabrics industry, specialising in...

Madison Maxey, Loomia

Madison Maxey

Loomia designs and manufactures soft circuit systems that can be produced...

Dahlia Razzrook, Label - Dahlia Razzook

Dahlia Razzrook
Label - Dahlia Razzook

London based designer, <b>Dahlia Razook</b> known for her luxury...

Reynu Taandon, Label Reynu Taandon + Nikhita

Reynu Taandon
Label Reynu Taandon + Nikhita

Renowned womenswear designer <b>Reynu Taandon </b>has been serving the...

Sujata & Taniya Biswas, Suta

Sujata & Taniya Biswas

Founded by <b>Sujata and Taniya Biswas</b>, Suta is a humble brand which...

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


Leave your Comments


G-Star Raw C.V.
Sateri (Jiujiang) Fiber Co.,Ltd
T.T. Limited
H;&M Hennes ;& Mauritz (Far East) Ltd
Aramark Uniform ;& Career Apparel, LLC
Gokaldas Exports Limited
Groz-Beckert East Asia LLP
Alison Hayes Romania
Vardhman Textile Ltd
Reiter India Private Limited
Calvin Klein
Rosset ;& Cia Limited
Page Industries Limited (Bangalore)
Landmark Group
Bluestem Global Sourcing Limited
International Textile Manufacturers Federation
Deckers Outdoor (Guangzhou) Consultant Co., LTD.
IKEA of Sweden AB
Phong Phu international JSC (PPJ)
Sportswear Company Spa
Amazon China
Varner AS Retail
Chico’ FAS
Lisa S.P.A.
C;&A Sourcing International Ltd
Aquarelle Clothing Limited
Under Armour Global Sourcing Ltd
Esprit Europe Services GmbH
Desigual - ABASIC, S.A.
Sportmaster Ltd.
Truetzschler India Private Limited
Eastman Chemical Company
The Top Form Brassiere Manufacturing Company Limited
Sainsbury's Argos Asia Limited
Hela Clothing Pvt Ltd
Helly Hansen Far East Ltd
IDH – The Sustainable Trade Initiative
Arvind Limited
Grasim Industries Limited
Maceton Limited
Tory Burch Hong Kong Ltd
Target Corporation (MN)
Etam Group Strategy Hong Kong Limited
Huntsman (Singapore) Pte Ltd
Alix Partners
Guess Europe Sagl,
Restoque S.A.
KAS Direct Sourcing
Recron Polyester from Reliance Industries Limited
Gatsby Africa
Hirdaramani International Export Private Limited
Boardriders Asia Sourcing Limited
The LYCRA Company Singapore  Pte. Ltd
Gloria Jeans
MAS Active / MAS Kreeda / MAS Bodyline
Vianney Textil Hogar S.A. De C.V.
Rayonese Textile Inc., Division de Culp Inc.
PVH Corporation
NITI Aayog
Tommy Hilfiger
Lenzing Aktiengesellschaft
Benetton Group
Gap International Sourcing Limited
John Varvatos
LC Waikiki
Brandix Lanka Limited
Cat Tuong Real Estate Group Joint Stock Company
J ;& P Coats
OVS Hong Kong Sourcing Ltd.
SHAHI Exports Pvt Ltd
Green Fibre
Midas Clothing Limited
Lacoste (Wanchai)
Chori Company Limited

January 2022

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

Advanced Search