Record results for Gildan
11/05/2011
Net earnings for the second quarter, ending April 3, were (US) $61.4 million. This included a restructuring charge that the company took on when closing what remained of its sports sock production in the US last year. Without this restructuring charge, the company said its earnings growth for the quarter would have been 29.3%.
It said growth was primarily due to higher net selling prices for activewear and growth in its activewear unit sales volumes.
Gildan's specialism is to make T-shirts, sport shirts and fleece as undecorated "blanks", which its customers can decorate with designs and logos if they wish. The company is also one of the world's largest suppliers of branded and private label athletic, casual and dress socks sold to a broad spectrum of retailers in North America.
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