Gildan Activewr Stock Price, News & Analysis

Gildan is participating in Fashion Revolution's annual movement for the 6th year, advocating for transparency in the clothing industry. This campaign encourages consumers to consider who makes their clothes and fabric. Gildan's Director of Global Communications emphasized the company's commitment to transparency and respect for its workforce, supported by their vertical integration from yarn spinning to distribution. Gildan has a history of enhancing its ESG commitments, with 18 years of annual reports and a recently launched Next Generation ESG strategy focusing on disclosure. The campaign showcases Gildan's production chain and its people, highlighting the importance of community and corporate responsibility.

Gildan Activewear Inc. (GIL) is set to release its 2023 first quarter results on May 3, 2023, after market close. A conference call will follow at 5:00 PM ET, accessible via two provided phone numbers and online. Additionally, the annual meeting of shareholders will be held on May 4, 2023, at 10:00 AM ET in a virtual format. During the meeting, shareholders can participate, vote, and submit questions. Gildan, known for its diverse apparel brands, operates large-scale manufacturing facilities primarily in Central America, the Caribbean, the U.S., and Bangladesh, adhering to high ESG standards across its supply chain. More information and details for the conference calls and annual meeting can be found on Gildan's corporate site.

Gildan Activewear has announced its commitment to employee welfare as a cornerstone of its operational success. With a workforce of approximately 50,000 across 12 countries, the company emphasizes safe, ethical working conditions and fair wages. Initiatives include on-site healthcare clinics in regions like Honduras and Nicaragua, enhancing access to medical services for employees. Gildan also invests in education through programs like the Women in Leadership Program, which boasts a 95% satisfaction rate among graduates, many of whom have advanced their careers. The company underscores that its employees are vital to its success and future growth.

Gildan Activewear recently hosted a free three-day ophthalmological event in the Guerra municipality of the Dominican Republic, providing preventative eye care to over 200 community members. The event, organized with Batey Relief Alliance and the Dominico-Canadian Chamber of Commerce, featured optometry experts offering consultations and educational talks on healthcare and nutrition. This initiative is part of Gildan's commitment to its Next Generation ESG strategy, promoting healthy living in local communities. The company aims to make optical healthcare more accessible in regions where it is often expensive and difficult to obtain.

Gildan marks International Women's Day by emphasizing its commitment to gender equity. Karine Doucet and Esther Hackett outline initiatives like the Women in Leadership Program, which supports female career advancement, achieving gender parity in manager-level roles, and aiming for parity in director positions by 2027. The company has received the Women in Governance Parity Certification. Gildan partners with organizations like Room to Read and World Vision to enhance educational access and economic empowerment for women. Future plans include a global Diversity, Equity, and Inclusion training for all employees.

Gildan Activewear reported FY 2022 record sales of $3,240 million, an 11% increase from FY 2021. Q4 sales were $720 million, down 8% year-over-year. The GAAP diluted EPS for FY 2022 was $2.93, down 5%, while adjusted diluted EPS rose 14% to $3.11. A non-cash impairment charge of $62 million affected Q4 earnings. Despite challenges, Gildan announced a 10% dividend increase for 2023 and plans for low single-digit revenue growth. The company emphasized strong cash flow management, returning $573 million to shareholders in 2022. Gildan’s outlook anticipates margin pressure due to raw material costs and demand challenges in early 2023.