Gildan Announces Record Second Quarter Results, Report Suggests Company May Shift Away from Private Label
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Gildan Activewear, the Canadian apparel manufacturer, has reported record results of the second quarter of 2013. As a result of the increase in earnings, the company also raised its full-year guidance.
Net earnings for the period ended March 31 were $72.3 million, more than double the $26.9 million earned in the same period of 2012, a result of reduced cotton costs, the acquisition of Anvil Knitwear, and lower-than-expected discounting in the printwear sector, which sells to the promotional products industry.
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- Companies:
- Anvil Knitwear
- Gila Products
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