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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 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.
Gildan Activewear's summer internship program welcomed over 30 interns across offices in Canada, Barbados, and the United States in 2024. The program offers opportunities for students and recent graduates to support various functions, develop skills with experienced mentors, and network with professionals. Shannon Preston, Vice-President of Human Resources, emphasizes the program's role in inspiring responsible future leaders.
Seven interns shared their experiences, highlighting diverse projects and learning opportunities. Interns worked in areas such as Customer Service, SOX Compliance, Corporate Marketing and Communications, Legal, Human Resources, and Digital Marketing. They valued the chance to take ownership of projects, collaborate with different departments, and gain insights from company leaders. The program included activities like lunch and learns, workshops, and the celebration of Gildan's 40th anniversary.
Gildan Activewear (GIL: TSX and NYSE) has announced its participation in the 28th Annual Scotiabank Back to School Conference in Toronto on September 18, 2024. Glenn J. Chamandy, President & CEO, and Rhodri J. Harries, Executive Vice-President, CFO and CAO, will represent the company. They will engage in a fireside chat and conduct one-on-one meetings with investors during the event. This conference provides an opportunity for Gildan to interact with the investment community and potentially discuss the company's performance, strategies, and outlook.