Gildan Responds to Lawsuit Filed by Russell Brands Affiliate of Fruit of the Loom

As part of the terms of obtaining this program, Gildan was required to purchase a small amount of Jerzees inventory from the retailer.

Gildan management subsequently became aware that a portion of the Jerzees inventory which it had purchased had been shipped to the retail customer bearing Gildan brand identification. Gildan took immediate steps to correct the situation by seeking to retrieve all of the Jerzees product which had been shipped to the retailer from the customer’s retail outlets and distribution centers. Gildan is confident that the amount of Jerzees product under dispute is negligible, and estimates that approximately $100,000 of disputed Jerzees products have been sold to consumers.