Gildan Activewear, a Canadian manufacturer of everyday basic apparel, has posted a 33.1 per cent sales jump to $801.6 million (US dollars) in the third quarter (Q3) of FY21 ended on October 3, 2021, against the sales of same period in previous fiscal and 8 per cent over Q3 FY19. The company’s net earnings during the quarter soared 233.9 per cent to $188.3 million (Q3 FY20: $56.4 million).
Gildan Activewear, a Canadian manufacturer of everyday basic apparel, posted 33.1 per cent sales jump to $801.6 million (US dollars) in third quarter (Q3) of FY21 ended on October 3, 2021, against the sales of same period in previous fiscal, and up by 8 per cent over Q3 FY19. Net earnings during Q3 rose 233.9 per cent to $188.3 million ($56.4 million).#
“Our record performance for the third quarter was driven by the improved economics of our business, underpinned by our Back to Basics model, the operational excellence of our team and the ongoing recovery in demand, which drove sales volumes which are now above pre-pandemic levels,” Glenn Chamandy, Gildan president and CEO, said in a press release.
Gildan Activewear, a Canadian manufacturer of everyday basic apparel, posted 33.1 per cent sales jump to $801.6 million (US dollars) in third quarter (Q3) of FY21 ended on October 3, 2021, against the sales of same period in previous fiscal, and up by 8 per cent over Q3 FY19. Net earnings during Q3 rose 233.9 per cent to $188.3 million ($56.4 million).#
Gross profit for the three-month period escalated to $281.7 million ($135.5 million), while operating income almost tripled to $201.3 million ($68.8 million).
Gildan Activewear, a Canadian manufacturer of everyday basic apparel, posted 33.1 per cent sales jump to $801.6 million (US dollars) in third quarter (Q3) of FY21 ended on October 3, 2021, against the sales of same period in previous fiscal, and up by 8 per cent over Q3 FY19. Net earnings during Q3 rose 233.9 per cent to $188.3 million ($56.4 million).#
As for product categories, Gildan said its activewear business saw sales increase of 43.7 per cent to $655.8 million ($456.3 million), while hosiery and underwear sales remained flat at $145.8 million ($146.0 million).
Gildan Activewear, a Canadian manufacturer of everyday basic apparel, posted 33.1 per cent sales jump to $801.6 million (US dollars) in third quarter (Q3) of FY21 ended on October 3, 2021, against the sales of same period in previous fiscal, and up by 8 per cent over Q3 FY19. Net earnings during Q3 rose 233.9 per cent to $188.3 million ($56.4 million).#
By geography, the best performing region was the US, which grew 32.6 per cent to $685.9 million ($517.1 million). Sales in Canada surged 42.1 per cent to $36.1 million ($25.4 million). Moreover, international sales went up 33.1 per cent to $79.6 million ($59.8 million) during the third quarter.
Gildan Activewear, a Canadian manufacturer of everyday basic apparel, posted 33.1 per cent sales jump to $801.6 million (US dollars) in third quarter (Q3) of FY21 ended on October 3, 2021, against the sales of same period in previous fiscal, and up by 8 per cent over Q3 FY19. Net earnings during Q3 rose 233.9 per cent to $188.3 million ($56.4 million).#
“The recovery from the pandemic continues to progress well in North America driving positive POS (point of sale) trends compared to pre-Covid 2019 levels. Further, while supply chain tightness in certain areas and rising inflationary pressure are creating headwinds across the industry, we believe our relative positioning is strong given our vertically-integrated manufacturing platform,” Gildan said in its outlook commentary.
Gildan Activewear, a Canadian manufacturer of everyday basic apparel, posted 33.1 per cent sales jump to $801.6 million (US dollars) in third quarter (Q3) of FY21 ended on October 3, 2021, against the sales of same period in previous fiscal, and up by 8 per cent over Q3 FY19. Net earnings during Q3 rose 233.9 per cent to $188.3 million ($56.4 million).#
“This combined with recent pricing actions implemented in the fourth quarter this year, gives us confidence that we are well positioned to manage through current inflationary pressures and to continue to be in a position to deliver on our operating margin target,” the company added.
Fibre2Fashion News Desk (JL)
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
