Sales down for Gildan
11/12/2009
Canadian activewear manufacturer Gildan has announced its full-year financial results.
Net sales for fiscal 2009 were just over US$1 billion, down 16.9% from fiscal 2008. The Montreal-based company said this was because of “a 10.2% decline in activewear unit
volumes, unfavourable activewear product-mix, lower activewear net selling prices, a 17.0% decrease in sock sales primarily due to the elimination of unprofitable sock product-lines during fiscal 2008, and the negative impact of the stronger US dollar sales”.
Gildan said it had secured high-volume deals for 2010 to provide underwear and socks to major retail groups and was actively seeking further deals.
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