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Article Date: May 2022
Word Count: 333

Gildan Rides Activewear to First Quarter Rebound


Net income jumped 52% to $144.3 million over $95.0 million on net sales that were up 31% to $774.9 million from $589.6 million, driven by a 38% improvement in Activewear sales to $667.3 million on higher selling prices and lower promo activity. The segment saw strength in North American demand in the distributor channel and a rebound in travel, events and other end use markets. GIL implemented base price increases beginning in Q4. Distributor sales benefited from more seasonal inventory and support for growth on higher production levels compared to the prior year, though channel inventory remains below pre-pandemic levels. ... Log in to view full article.

 


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