Gildan Activewear Announces Record Results for Third Fiscal Quarter

Gildan Activewear, the Canadian apparel manufacturer, has reported record results for the third quarter of 2013. Earnings for the period were $115.8 million, compared to $78.6 million for the same period in 2012. Net sales were $614.3 million, up 2.3 percent from $600.2 million last year.

The company reported that operating income for both its printwear and branded apparel segments, which sell to the promotional industry and retail chains respectively, was in line with expectations. The company said its printwear sales were lower than forecast "due to production capacity constraints which limited the company's ability to fully capitalize on seasonal peak demand for activewear during the third quarter," but that reduced discounts to the industry and lower cotton costs led to balanced figures.