Sales up 28% at Gildan Activewear
Canada-based Gildan Activewear posted sales of US$395.3 million for the third quarter, up 28.4% from $307.8 million during the third quarter of last year. Sales of activewear and underwear totalled $351.3 million, up 36.1% from $258.1 million last year, while sock sales were $440 million, down 11.5%. Net earnings for the third quarter were $64.7 million.
Net sales for the first nine months of the year totalled $942.5 million, up $205.9 million or 28% from $736.6 million during the same period last year. Sales of activewear and underwear were $777.5 million, up $222.7 million or 40.1% from $554.8 million last year, while sock sales totalled $165 million, down $16.8 million or 9.2% from $181.8 million during the first nine months of fiscal 2009. Net earnings were $141.5 million compared with $52.9 million.
The company expects full year revenues of approximately $1.3 billion, up approximately 25% year-on-year.
