Home / Knowledge / News / Apparel/Garments / Sales surge 25.9% at Gildan Activewear in Q2 FY'12

Sales surge 25.9% at Gildan Activewear in Q2 FY'12

03
May '12
Gildan Activewear Inc. announced its financial results for the second quarter of its 2012 fiscal year, and reconfirmed its prior earnings guidance for the full fiscal year.

Second Quarter Results
Gildan reported net earnings of U.S. $26.9 million or U.S. $0.22 per share on a diluted basis for its second fiscal quarter ended April 1, 2012, compared with net earnings of U.S. $61.7 million or U.S. $0.50 per share in the second quarter of fiscal 2011.

Before restructuring and acquisition-related costs, adjusted net earnings for the second quarter of fiscal 2012 were U.S. $27.8 million or U.S. $0.23 per share, compared to U.S. $64.6 million or U.S. $0.53 per share in the second quarter of last year. The Company had previously projected net earnings of approximately U.S. $0.20 per share for the second quarter, when it reported its first quarter results on February 8, 2012.

The decline in the Company's results compared to last year was due to significantly higher cotton costs, which negatively impacted EPS in the second quarter by close to U.S. $0.70 compared to the second quarter of last year.

The impact of higher cotton and other input costs and higher income taxes compared to last year were partially offset by higher printwear sales volumes, the benefit of selling price increases to U.S. retail customers which were implemented in the fourth quarter of fiscal 2011, improved manufacturing efficiencies and the accretive impact of the acquisition of Gold Toe Moretz.

Net sales in the second quarter amounted to U.S. $482.6 million, up 25.9% from U.S. $383.2 million in the second quarter of fiscal 2011, and essentially in line with its forecast of close to U.S. $500 million. Sales for the Printwear segment amounted to U.S. $360.9 million, up 11.5% from fiscal 2011, and sales for the Branded Apparel segment were U.S. $121.6 million, up 104.2% from the second quarter of last year.

Click here to read more details:

Gildan Activewear Inc


Must ReadView All

Pic: Shutterstock

Textiles | On 29th Feb 2020

Nepal's pashmina sector gets European Union boost

A new project funded by the European Union to strengthen Nepal's path ...

Pic: Shutterstock

Apparel/Garments | On 29th Feb 2020

Coronavirus outbreak hits Thai garment industry

The coronavirus outbreak has been affecting the Thai apparel industry ...

Pic: Shutterstock

Retail | On 29th Feb 2020

Indian govt clarifies on sourcing of goods from SEZs

Goods procured from units in special economic zones (SEZs) by...

Interviews View All

Frank Gossmann, Rotorcraft AG

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Marazban F Velati, Sutlej Textiles & Industries limited

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Nitin Bhatia, Trend Arrest

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Mario Ploner,

Mario Ploner

<div>Italian company Tecnomeccanica Biellese specialises in planning and...

Akshat Chaudhary,

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Harssh Chheda,

Harssh Chheda

Mumbai-based Corporate Collars provides bespoke tailoring services for...

Shujaul Rehman, Garware Technical Fibres

Shujaul Rehman
Garware Technical Fibres

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Giorgio Mantovani, Corman S.p.A

Giorgio Mantovani
Corman S.p.A

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

Mr Hartmann Huth, Trevira GmbH

Mr Hartmann Huth
Trevira GmbH

Trevira GmbH is an innovative European manufacturer of high-value branded...

Sailesh Singhania, Sailesh Singhania Label

Sailesh Singhania
Sailesh Singhania Label

The Sailesh Singhania label was created to promote handwoven sarees and...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Anjali Bhaskar has an experience of 12 years in the fashion industry. She...

Judy Frater, Somaiya Kala Vidya

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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


February 2020

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


Advanced Search