Gildan Activewr - GIL STOCK NEWS

Gildan Activewear (TSX:GIL)(NYSE:GIL) has secured its position in the Dow Jones Sustainability North America Index for the 12th consecutive year, as announced on January 6, 2025. The company achieved remarkable performance, ranking in the 98th percentile among 189 companies in the Textiles, Apparel, and Luxury Goods industry, and stands as the only apparel manufacturing company included in the DJSI North America.

CEO Glenn Chamandy emphasized that ESG remains integral to Gildan's long-term business strategy, with their Next Generation ESG strategy embedded within the Gildan Sustainable Growth initiative. The DJSI, representing the top 20% of the largest 600 North American companies in the S&P Global Broad Market Index, evaluates companies based on Environmental, Social, Governance & Economic criteria using a best-in-class approach.

Gildan Activewear (GIL: TSX and NYSE) has achieved a significant milestone by being included in the Dow Jones Sustainability™ North America Index (DJSI North America) for the 12th consecutive year. The company demonstrated exceptional ESG performance, ranking in the 98th percentile among 189 companies in the Textiles, Apparel, and Luxury Goods industry, and stands as the only apparel manufacturing company in the index.

The DJSI North America represents the top 20% of the largest 600 North American companies in the S&P Global Broad Market Index, evaluating companies based on Environmental, Social, Governance & Economic criteria. Gildan's consistent inclusion reflects its two-decade commitment to sustainability, with its Next Generation ESG strategy integrated into the company's Sustainable Growth strategy.

Gildan Activewear has successfully raised over CAN$150,000 through a three-week internal campaign at its Canadian head office to support Centraide, an organization helping families overcome poverty, homelessness, and isolation in the Greater Montreal region. The fundraising combines employee contributions, campaign activities, and company matching. The initiative aligns with Gildan's Next Generation ESG strategy goal of allocating 1% of pre-tax earnings to community investment by 2026.

The funds will support Montreal-based agencies that assist approximately 315,000 people living in poverty, addressing issues such as financial insecurity, family isolation, educational support, youth employment, and social exclusion.

Gildan launched its first Global Employee Volunteer Month, engaging approximately 670 employees who contributed 3,800 hours to community service worldwide. The initiative aligned with the company's Community Investment Policy and Next Generation ESG strategy, focusing on education, environment, and community support.

Key activities included: partnering with First Book Canada to create libraries for 110 children from low-income communities; environmental education programs in Honduras with World Vision; distributing educational kits to over 3,500 students in the Dominican Republic; planting 7,500 trees in Nicaragua; providing school supplies to 500 students in Bangladesh; and supporting 2,200 U.S. students with backpack distributions. Australian employees also participated by packing care kits with clothing for communities in need through Good 360.

Gildan Activewear marked two significant milestones by ringing the Opening Bell at the NYSE: its 40th anniversary as a company and 25th anniversary of NYSE listing. President and CEO Glenn J. Chamandy led the ceremony, accompanied by senior leadership and board members. The company highlighted its position as one of the largest U.S. cotton consumers, emphasizing its vertically integrated manufacturing model. Gildan's four-decade journey showcases growth and commitment to sustainable practices, focusing on worker welfare, community support, and environmental initiatives while executing its Sustainable Growth strategy.

Gildan Activewear announced pricing of a C$700 million senior unsecured notes offering in two series: C$500 million of 4.362% notes due 2029 and C$200 million of 4.711% notes due 2031. Both series will be issued at par with semi-annual interest payments starting May 22, 2025. The proceeds will be used to repay existing credit facilities and for general corporate purposes. The notes, rated BBB with stable trend by DBRS , will be offered through a syndicate led by BMO Capital Markets, CIBC Capital Markets, and Scotiabank. The offering is expected to close around November 22, 2024.

Gildan's Australian office achieved a significant milestone in 2023 by having all employees certified in mental health first aid. The initiative, led by Sales Director David Hillen, began after his personal experience helping a colleague with mental health issues. The certification program, provided by Mental Health Foundation Australia, equipped employees with tools to identify and support individuals facing mental health challenges. The office-wide implementation has resulted in more open discussions about mental health and created a safer workplace environment. Hillen, who became a certified trainer himself, successfully gained management support and gradually implemented the program, which covers four broad mental health topics and practical intervention strategies.

Gildan highlights its commitment to employee development through comprehensive Learning and Development (L&D) initiatives. The company's administrative employees completed over 35,000 training hours through Gildan Academy in 2023, while total organization-wide training reached 2.5 million hours. Key programs include the Leading the Gildan Way program, which has trained over 600 managers across eight countries, and the Women in Leadership program, with a 45% promotion rate among graduates. The company implements various development tools including online resources, mechanic training programs, and Six Sigma Academy, all aligned with Gildan's competency framework focusing on five core competencies.

Gildan Activewear (GIL) reported record Q3 2024 results with net sales of $891 million, up 2.4% year-over-year. The company achieved an operating margin of 21.7% and adjusted operating margin of 22.4%. Activewear sales increased 6% to $788 million, driven by higher volumes and positive POS in North America. Hosiery and underwear sales declined 18% to $103 million due to the Under Armour phase-out. The company generated $178 million in operating cash flow and returned a record $404 million to shareholders through dividends and share repurchases. Gildan updated its 2024 guidance, expecting low-single-digit revenue growth and adjusted diluted EPS of $2.97-$3.02.