Gildan Activewear Q4 Results Top Estimates
OTTAWA (dpa-AFX) - Gildan Activewear Inc. (GIL, GIL.TO) reported fourth-quarter net earnings of $67.4 million or $0.34 per share, up from $32.5 million or $0.16 per share last year.
Adjusted net earnings were $90.0 million or $0.45 per share compared to $83.4 million or $0.41 per share in the previous year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.21 per share for the quarter. Analysts estimates typically exclude special items.
Net sales for the fourth quarter were $690.2 million up 4.8% from the previous year. It consisted of activewear sales of $537.9 million, up 11.3%, and sales of $152.3 million in the hosiery and underwear category, down 13.0% compared to the prior year quarter. Analysts expected revenues of $610.76 million for the quarter.
Sustainability in 2020: A Year in Review at Gildan
Sustainability in 2020: A Year in Review at Gildan
CONTENT: Blog
Gildan’s longstanding vision of Making Apparel Better® has guided the Company in managing every aspect of its business. Given its strong foundation of sustainable and ethical practices, Gildan has continued to prioritize sustainability in 2020.
With the help of the Company’s environmental, social, and governance (ESG) program, Genuine Responsibility®, Gildan has been taking great strides to make positive impacts over the years by introducing effective programs for employee wellness and health, as well as organizing numerous sustainability initiatives and community engagement efforts across the regions where the Company operates. Now, as 2020 draws to a close, the Company revisits some of this year’s initiatives and achievements as it looks forward to a new year of continued ESG commitments: