Welcome to our dedicated page for Gildan Activewr news (Ticker: GIL), a resource for investors and traders seeking the latest updates and insights on Gildan Activewr stock.
Gildan Activewear Inc. (GIL) generates frequent news as a manufacturer of everyday basic apparel with a vertically integrated, large-scale production platform. Company updates often highlight developments in its activewear, underwear, socks, hosiery and intimates categories, as well as changes in its brand portfolio and customer channels across North America, Europe, Asia Pacific and Latin America.
Recent news has focused heavily on Gildan’s acquisition of HanesBrands Inc., which the company describes as creating a global basic apparel leader and doubling its revenues. Coverage includes the initial merger agreement, financing plans such as the pricing of senior unsecured notes, and the subsequent announcement that the acquisition has been completed, along with commentary on expected cost synergies and expanded scale.
Investors following GIL news will also see quarterly earnings releases detailing net sales, operating margins, category performance in Activewear and Hosiery and underwear, and commentary on the Gildan Sustainable Growth (GSG) strategy. These releases often include updated full-year guidance, information on capital allocation such as dividends and share repurchases, and discussion of demand trends in key markets.
Additional news items cover distribution partnerships and conferences, including exclusive wholesale distribution arrangements with S&S Activewear in the Canadian and U.S. imprintables markets, and participation in institutional investor and industry conferences. For readers tracking GIL, this news page provides a centralized view of corporate announcements, financial results, strategic transactions and channel partnerships related to Gildan’s basic apparel business.
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.
In celebration of Hispanic Heritage Month, Gildan launched an internal and social media campaign highlighting employees of Hispanic heritage in North America. The initiative aimed to recognize the significant influence of Hispanic culture on the company's environment and operations. Three employees were featured, sharing their journeys at Gildan and how they celebrate their heritage:
1. Nills Leiva, Senior Manager of IT Support, originally from Guatemala City
2. Ana Camposeco, Training Coordinator, born in Guatemala
3. Joseph Roman, Shipment Processor, with roots in Puerto Rico
The campaign fostered appreciation for diversity and promoted inclusivity within the organization. Shannon Preston, Vice-President of Human Resources at Gildan, emphasized the importance of this cultural exchange in creating an inclusive work environment.
Gildan Activewear Inc. (GIL) has announced the date for its 2024 third quarter earnings release. The company will report its results on Thursday, October 31st, 2024, before markets open. A conference call is scheduled for the same day at 8:30 AM ET to discuss the results.
Investors can access the conference call by dialing (800) 715-9871 (Canada & U.S.) or (646) 307-1963 (international) and entering passcode 7966565#. A replay will be available for 7 days starting at 12:30 PM EST. Additionally, a live audio webcast of the conference call and its replay will be accessible online.
In 2023, Gildan's Australian office achieved full certification in mental health first aid, empowering employees to identify and support those in need. David Hillen, Sales Director at Gildan, spearheaded this initiative after a personal experience with a colleague facing mental health issues. Hillen pursued certification through the Mental Health Foundation Australia (MHFA) and became a certified trainer to make the course more accessible to his network.
The initiative gained support from senior management and gradually spread throughout the office. The course covered four broad mental health topics, teaching participants to recognize warning signs and intervene effectively. As a result, the office has seen increased openness in discussing mental health and created a safer work environment. Hillen encourages others to take the first step in advocating for causes they're passionate about, emphasizing the potential for significant impact within a global organization like Gildan.