×
71 259
Fashion Jobs
SHISEIDO
Digital Marketing Manager
Permanent · Miami
ABERCROMBIE AND FITCH CO.
Asset Protection Investigator
Permanent · Columbus
ABERCROMBIE AND FITCH STORES
Abercrombie & Fitch - Manager in Training, Southport
Permanent · Chicago
GILLY HICKS STORES
Gilly Hicks - Manager in Training, Easton Town Center
Permanent · Columbus
COTY
Coordinator, Sales Operations
Permanent · New York
FOOT LOCKER
Atmos Usa Manager in Training(Mit)
Permanent · Arlington
UNIQLO
Loss Prevention Supervisor - Great Mall, Milpitas ca
Permanent · Milpitas
OLD NAVY
Regional HR Manager - Southern California
Permanent · Los Angeles
OLD NAVY
Assistant Manager, Customer Operations - Poyner Place
Permanent · Raleigh
OLD NAVY
Assistant Manager, Customer Operations - Dierbergs-Edwards
Permanent · Edwardsville
OLD NAVY
General Manager -Riverdale Village
Permanent · Coon Rapids
OLD NAVY
Asset Protection Service Representative - Hudson
Permanent · Jersey City
OLD NAVY
Asset Protection Service Representative
Permanent · Fresno
OLD NAVY
Assistant General Manager, Merchandising - Plaza at Citrus Park
Permanent · Tampa
OLD NAVY
Assistant Manager, Customer Operations - King of Prussia
Permanent · King of Prussia
OLD NAVY
Unassigned General Manager - North Los Angeles
Permanent · Santa Maria
OLD NAVY
Assistant Manager, Customer Operations - Eastland-Evansville
Permanent · Evansville
OLD NAVY
Assistant General Manager - Columns (The)
Permanent · Jackson
OLD NAVY
Assistant Manager, Customer Operations - East Viking Plaza
Permanent · Cedar Falls
OLD NAVY
Regional HR Manager - Southern California
Permanent · National City
OLD NAVY
Regional HR Manager - Southern California
Permanent · Culver City
OLD NAVY
Regional HR Manager - Southern California
Permanent · Downey
Published
May 2, 2019
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Gildan Activewear sales, profits dip; announces expansion initiative

Published
May 2, 2019

Despite declining sales and earnings in the first quarter, Montreal-based apparel manufacturer Gildan Activewear is making expansion plans that will include a new manufacturing facility. 

Gildan purchased American Apparel in 2017 - Facebook: American Apparel

 
For the three months ending March 31, the maker of underwear and t-shirts reported net income of $22.7 million, or 11 cents per share on a diluted basis, from $67.9 million, or 31 cents per share on a diluted basis, reported the same period last year. 
 
The company said adjusted earnings in the first quarter were $32.8 million, or 16 cents per share on a diluted basis, down from $74.6 million, or 34 cents per share on a diluted basis in the first quarter of 2018 mainly due to the decline in operating income and higher net financial expenses. 

Sales of $623.9 million, were down 3.6 percent compared to the prior year quarter, reflecting declines of 4.1 percent in activewear and 1.8 percent in the hosiery and underwear category.
 
Activewear generated $493.6 million in sales for the quarter, but was still down compared to last year due to lower levels of distributor restock requests. Similarly, the hosiery and underwear category saw sales fall to $130.4 million. The drop was due to lower Gildan branded socks and underwear sales in the mass retail channel. 
 
On Wednesday, the company also announced that it is expanding its global manufacturing footprint with the purchase of a sizeable land parcel in Bangladesh. 
 
The expansion is part of Gildan’s plans to develop large-scale vertically-integrated manufacturing in South-east Asia to support expected sales growth. 
 
“The company believes the build out of a large-scale manufacturing hub in South-east Asia will significantly enhance its positioning to service international markets and support other key sales growth drivers,” it said in a news release.
 
The multi-plant complex is expected to open at the end of 2021. 
 
Looking ahead, the company is expecting 2019 GAAP diluted EPS of $1.75 to $1.85 and adjusted diluted EPS of $1.90 to $2.00, on projected sales growth in the mid-single-digit range. 

Copyright © 2022 FashionNetwork.com All rights reserved.