Home / Knowledge / News / Apparel/Garments / Gildan's net earnings up 12.9% in Q1 2016
Gildan's net earnings up 12.9% in Q1 2016
09
May '16
Courtesy: Gildan Activewear
Courtesy: Gildan Activewear
Canadian branded apparel supplier, Gildan Activewear reported rise of 12.9 per cent in net earnings to $63.2 million in the first quarter of 2016, ended April 3, as compared to $56 million in the corresponding quarter last year, despite a fall in net sales.

The company reported a fall of 6.7 per cent in net sales in Q1 of 2016 to $593.3 million as compared to $636.2 million in the first quarter of 2015, ended April 5 of last year.

The rise in net earnings was attributed to cost savings in manufacturing because of the company's constant investment in vertical manufacturing, including its yarn spinning initiative, and lower input costs and raw material costs.

Adjusted net earnings rose 20 per cent at the company to $69 million as compared to $57.5 million in the previous quarter.

Diluted earnings per share stood at $0.26 in Q1 of 2016 as compared to $0.23 in the prior quarter.

The company expects net sales in excess of $2.6 billion for the full-year of 2016. Printwear sales are likely to be in excess of $1.6 billion, while branded apparel sales are likely to be in excess of $1 billion.

The guidance does not include the acquisition of Alstyle, to be completed by the end of June 2016.

It will revise its guidance after the completion of the acquisition. (MCJ)

Fibre2Fashion News Desk - India


Must ReadView All

Fibre2Fashion: 21 years of serving textile-apparel-fashion industry

Textiles | On 17th Apr 2021

Fibre2Fashion: 21 years of serving textile-apparel-fashion industry

Fibre2Fashion, the online platform for the global...

Pic: Shutterstock

Textiles | On 17th Apr 2021

China's economy grows 18.3% in Q1 2021

Powered by a strong domestic and foreign demand, China's economy grew ...

Pic: Shutterstock

Retail | On 17th Apr 2021

US retail sales saw strong rebound in March: NRF

As government cheques fattened consumers’ bank accounts and more...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Money never disappears-it just finds new opportunities

International apparel brands, Head honchos

International apparel brands
Head honchos

Launched first collection at onset of Covid

Textile Industry, Head honchos

Textile Industry
Head honchos

Main challenges are breakdown of supply chain and shrinkage of manpower

P V Kadole,

P V Kadole

Nine co-operative organisations from Ichalkaranji came together to form an ...

Shyam Gupta,

Shyam Gupta

Established by <b>Shyam Gupta</b> in 1978, Gargee Designer's (GD) offers...

Himanshu Fogla,

Himanshu Fogla

Jumac, pioneers in spinning can manufacturing in India, was founded in...

Tiasha Renganathan, Twinery Innovations by MAS

Tiasha Renganathan
Twinery Innovations by MAS

Twinery-Innovations by MAS is the innovation arm of Sri Lankan company MAS ...

Michaela Griggs & Peggy Schulz, Barco Uniforms

Michaela Griggs & Peggy Schulz
Barco Uniforms

Founded in 1929, Barco Uniforms started as an apparel company for beauty...

Daniel Roxbury, University of Rhode Island

Daniel Roxbury
University of Rhode Island

Assistant professor Daniel Roxbury and former URI graduate student...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

Megha Kumari & Jigar Mali, Label Megha & Jigar

Megha Kumari & Jigar Mali
Label Megha & Jigar

New Delhi based label Megha &amp; Jigar blends India's unique handcrafts...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Samatvam, a womenswear brand that blends age-old craftsmanship with modern ...

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

Leave your Comments


April 2021

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


Advanced Search