Gildan Activewear Announces Record Results for Fourth Quarter of Fiscal Year and Initiates Sales and Earnings
Net sales in the fourth quarter amounted to U.S. $626.2 million, up 11.5 percent from U.S. $561.7 million in the fourth quarter of fiscal 2012. The company had projected that net sales for the quarter would be in excess of U.S. $600 million.
Net sales for the printwear segment amounted to U.S. $423.9 million, up 12.5 percent from U.S. $376.8 million in the fourth quarter of fiscal 2012. Unit sales volumes increased by 18.7 percent from the fourth quarter of last year due to increased shipments in the U.S. printwear market, the non-recurrence of inventory destocking which occurred in the U.S. distributor channel in the fourth quarter of fiscal 2012 and a 37 percent increase in international sales volumes. The positive impact on net sales of higher unit sales volumes was partially offset by lower net selling prices compared to the fourth quarter of last year.
Net sales for branded apparel were U.S. $202.2 million, up 9.4 percent from U.S. $184.8 million in the fourth quarter of last year. The growth in sales for the branded apparel segment was due to the impact of new Gildan branded underwear and activewear programs for retail customers, as well as higher sock sales compared to the fourth quarter of last year, partially offset by the company's strategy to exit certain retailer private label programs.
The company was pleased with the continuing strong consumer demand and resulting retailer sales of its national branded underwear program. The company has also continued to achieve placement of new Gildan and Gold Toe branded programs, including the introduction of its premium Gildan Platinum brand and the Gold Toe G brand at department stores and a major national retail chain. In addition, the company is pleased to announce that it has obtained the worldwide license for the Mossy Oak brand for activewear, underwear and socks.