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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.
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Gildan Activewear reported strong Q3 2020 results, posting sales of $602 million, a significant increase from $230 million in Q2. The company returned to profitability with GAAP diluted EPS of $0.28 and adjusted diluted EPS of $0.30. Gross margin improved to 22.5%, despite COVID-19 impacts, with production ramping up to 75% of pre-COVID levels. Free cash flow was robust at $137 million, contributing to a liquidity position of $1.3 billion. However, year-to-date sales were down 40.4% compared to 2019, reflecting ongoing challenges from the pandemic.
Gildan Activewear Inc. (GIL) is set to report its 2020 third quarter results on October 29, 2020. A press release will precede market opening, followed by a conference call at 8:30 AM ET, accessible via phone and online. Gildan, a leader in basic apparel manufacturing, operates large-scale facilities in various regions, committed to strong labor and environmental practices. The company has a diverse product range sold globally through various distribution channels. For further details, visit their corporate site.
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Gildan Activewear will announce its 2020 second quarter results on July 30, 2020. A press release will be issued before market opening, followed by a conference call at 8:30 AM ET to discuss the results. Investors can access the call at (877) 282-2924 within Canada and the U.S., and (470) 495-9480 internationally, using passcode 5179253. A replay will be available for seven days. Gildan is a major apparel manufacturer with diverse brands and operates large-scale, vertically-integrated facilities primarily in Central America and the Caribbean, focusing on sustainable practices.
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