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Gildan Activewear Inc. reports developments tied to its vertically integrated basic apparel business, including activewear, underwear, socks and intimates sold through distributors, screenprinters, retailers, e-commerce platforms, global lifestyle brands and direct-to-consumer channels. Company updates also reference its brand portfolio, including Gildan, Hanes, Comfort Colors, American Apparel, GOLDTOE, Bali, Playtex, Maidenform, Bonds and licensed Champion printwear in the U.S. and Canada.
Recurring announcements focus on quarterly results, guidance, manufacturing and supply-chain operations, HanesBrands integration, capital returns, investor conference participation and governance matters such as director elections, auditor votes, executive compensation votes and the shareholder rights plan. Gildan also reports on labor, environmental and governance practices across large-scale manufacturing facilities in Central America, the Caribbean, North America and Asia.
Gildan Activewear reported record Q3 2022 sales of $850 million, a 6% increase YoY, driven by robust activewear sales within North America. Despite inflation, operating margins remained strong at 20.5%, with adjusted diluted EPS of $0.84, up 5% from last year. The company returned $125 million to shareholders via dividends and repurchases, buying back 3.2 million shares. However, gross profit fell to $252 million, down 10.5% YoY, largely due to rising costs. Gildan's net debt stood at $944 million, with a leverage ratio of 1.2.
Gildan Activewear Inc. (GIL) is set to announce its third quarter results for 2022 on November 3, 2022. The press release will precede the market opening, followed by an audio webcast and conference call at 8:30 AM ET to discuss the results. Interested parties can access the conference call by dialing specific numbers or through the company’s investors page for a live audio webcast. The company manufactures everyday basic apparel and operates large-scale manufacturing facilities across various regions, maintaining a commitment to sustainability and corporate governance.
Gildan Activewear reported record Q2 sales of $896 million, a 20% increase year-over-year, primarily due to a 27% rise in activewear sales. Operating margin stood at 19.4% with GAAP diluted EPS of $0.85, reflecting an increase of 27% over Q2 2021. Free cash flow was $159 million, while total debt reached $922 million. The company announced the renewal of its Normal Course Issuer Bid to repurchase up to 5% of outstanding shares. However, the hosiery and underwear segment saw an 8% decline in sales due to weakened retail demand.
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Gildan Activewear Inc. (GIL) will release its 2022 second quarter results on August 4, 2022, prior to market opening. An audio webcast and conference call will follow at 8:30 AM ET to discuss the results. Investors can access the conference call by dialing (800) 715-9871 in Canada and the U.S., or (646) 307-1963 internationally, using passcode 9879499. Replay options will be available for a week. Gildan, a key player in basic apparel manufacturing, operates facilities in Central America, the Caribbean, and Bangladesh, upholding strong ESG practices.
Gildan Activewear Inc. (GIL) will participate in two upcoming conferences. Peter Iliopoulos and Claudia Sandoval will engage in a fireside chat at the Second Annual Stifel Sustainable Lifestyle Brands Conference on May 24, 2022, at 9:20 AM ET. Rhodri J. Harries will also participate in a chat at the 2022 RBC Capital Markets Global Consumer & Retail Conference on June 1, 2022, at 9:20 AM ET. Live webcasts will be available for 90 days post-event. Gildan is a leading apparel manufacturer with a commitment to ESG practices and operates large-scale facilities mainly in Central America, North America, and Bangladesh.
Gildan Activewear Inc. (GIL) successfully held its virtual annual meeting on May 5, 2022, where all eleven proposed director nominees were elected by majority shareholder votes. The company also received majority support for the non-binding advisory vote on executive compensation and the reappointment of its auditors. Detailed voting results show strong approval, with percentages for director elections ranging from 91.74% to 99.85% in favor. These outcomes reflect positive shareholder confidence in Gildan's leadership and governance practices.
Gildan Activewear (GIL) reported record first quarter sales of $775 million, a 31% increase year-over-year, driven by strong demand for activewear and favorable pricing. The company achieved an operating margin of 20.9% and a record GAAP diluted EPS of $0.77, marking a 54% increase from the previous year. Despite a significant decrease in free cash flow, Gildan continued to repurchase shares, buying back over 5 million shares. The company has also entered a sustainability-linked loan, highlighting its commitment to ESG targets.
Gildan Activewear (GIL) will release its Q1 2022 financial results on May 4, 2022, after market close. The company will host a conference call at 5:00 PM ET the same day to discuss the results and provide a business outlook. Shareholders are invited to the Annual General Meeting on May 5, 2022, at 10:00 AM ET, conducted virtually. Access details for both the conference call and AGM are available on Gildan's corporate website.
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