Activewear sales up at Gildan
Canada-based manufacturer of branded apparel and sportswear Gildan Activewear Inc. has posted improved results for its fourth quarter and full year ended September 30. The company also reconfirmed its earnings guidance for 2008.
Fourth quarter net earnings totalled $40.9 million compared with $36.8 million in the fourth quarter of fiscal 2006. Sales were $254.9 million, up 8.4% compared with $235.2 million in the fourth quarter of last year. The increase came from an 8.9% increase in volume for activewear and a 15.7% increase in volume for socks, partially offset by a 1.4% reduction in price for activewear.
Sales for the year ended September 30 were $964.4 million, up 24.7% compared with the same period last year, while net earnings totalled $130 million.
