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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 (GIL: TSX and NYSE) has announced a private offering of C$700 million senior unsecured notes in three series:
- C$150M floating rate notes due March 13, 2028 (CORRA + 1.26% per annum)
- C$200M fixed rate notes at 3.630% due March 13, 2028
- C$350M fixed rate notes at 4.149% due November 22, 2030
The notes will be issued through an agency syndicate led by BMO Capital Markets, CIBC Capital Markets, and TD Securities as joint bookrunners. The offering is expected to close around March 13, 2025. The notes have received a provisional BBB rating with a stable trend from DBRS Gildan plans to use the proceeds for repaying existing credit facilities and general corporate purposes.
Gildan Activewear announced key executive leadership changes effective March 1, 2025. Chuck Ward, current President of Sales, Marketing and Distribution, will become Executive Vice President and Chief Operating Officer. Additionally, Rhodri J. Harries, EVP and Chief Financial and Administrative Officer, will retire on January 1, 2026, with Luca Barile, current CFO of Sales, Marketing and Distribution, succeeding him as EVP and CFO.
Ward, who joined Gildan in 2011 through the GoldToe Moretz acquisition, brings extensive experience in manufacturing, yarn spinning operations, and supply chain planning. Barile, who started at Gildan in 2012, has progressed through various financial roles including Financial Planning and Analysis, Internal Audit, and Enterprise Risk Management.
The transitions are part of Gildan's multi-year succession planning process, aimed at ensuring continuity in executing the company's Sustainable Growth Strategy. Harries will facilitate a 10-month transition period, maintaining his Chief Administrator Officer role until retirement.
Gildan Activewear reported record Q4 2024 results with net sales of $822 million, up 5% year-over-year. The company achieved a Q4 operating margin of 21.8% and adjusted operating margin of 21.3%. Full-year 2024 revenue reached $3,271 million with adjusted operating margin of 21.3%.
Key Q4 highlights include Activewear sales of $714 million (up 11%), driven by higher volumes and strong market response to new products. International sales increased by 20%. The company generated Q4 cash flow from operations of $211 million and returned $246 million to shareholders through dividends and share repurchases.
For 2025, Gildan expects mid-single-digit revenue growth, adjusted operating margin improvement of approximately 50 basis points, and adjusted diluted EPS between $3.38-$3.58. The company also announced a 10% dividend increase for 2025.
Gildan Activewear (GIL) has announced it will release its fourth quarter and full year 2024 financial results on Wednesday, February 19th, 2025, before markets open. The company will host a conference call at 8:30 AM ET on the same day to discuss the results.
Investors and analysts can join the call by dialing (800) 715-9871 from Canada & U.S. or (646) 307-1963 internationally, using passcode 3105768#. A replay will be available for 7 days starting at 12:30 PM EST, accessible via (800) 770-2030 (Canada & U.S.) or (609) 800-9909 (international). An audio webcast and replay will also be available online.
Gildan has announced a significant charitable contribution of $200,000 worth of American Apparel® and Gildan® garments to FireAid, a benefit concert supporting Los Angeles wildfire victims. The donated apparel will be sold at the event, with all proceeds directed towards both immediate relief efforts and long-term fire prevention initiatives in Southern California.
The FireAid concert, scheduled for January 30, 2025, will feature dual performances at the Intuit Dome and Kia Forum in Los Angeles. The event will be accessible through multiple broadcast and streaming platforms, including select AMC Movie Theaters. Chuck Ward, President of Sales, Marketing and Distribution at Gildan, emphasized the company's commitment to responsible manufacturing and community support in regions where they operate.
Gildan is showcasing its latest product innovations and styles at the Impressions Expo Long Beach, featuring updates across its brand portfolio including Gildan®, Comfort Colors®, American Apparel®, and Champion®. Key highlights include:
The company introduced new Plasma Print Technology for enhanced direct-to-garment printing and Soft Cotton Technology for improved fabric quality. Gildan® is launching new styles in its Light Cotton™, Hammer Maxweight, and Softstyle™ Midweight Fleece collections.
Comfort Colors® celebrates its 50th anniversary with new colors in popular styles and upcoming women's silhouettes for 2026. American Apparel® unveiled new colors in iconic styles and introduced a Super Heavyweight collection. Through a licensing agreement with Authentic Brands Group, Gildan is presenting Champion®'s athletic apparel collection featuring various styles.
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.