Latest news with #GildanActivewearInc
Yahoo
20-05-2025
- Business
- Yahoo
Gildan Publishes Its 2024 ESG Report Highlighting Advancements Towards Its 2030 ESG Targets
MONTREAL, QC / / May 20, 2025 / Gildan Activewear Inc. (GIL:TSX and NYSE) ("Gildan" or "the Company") is pleased to announce the publication of its 21st Environmental, Social, and Governance (ESG) Report, outlining the Company's continued progress against the ten targets of its Next Generation ESG strategy. "Over the years, ESG, which is one of three pillars of our Gildan Sustainable Growth (GSG) strategy, has been foundational to support our low-cost manufacturing operations, unlocking innovative business solutions and our ability to meet changing customer and consumer needs," says Glenn Chamandy, President and CEO of Gildan. "Just as importantly, it has also helped us to attract and retain an engaged, experienced, and highly skilled workforce, and maintain the trust and support of the communities in which we operate. Together with our ~50,000 employees, we are committed to continue making apparel with respect." In 2024, Gildan achieved notable advancements towards its Next Generation ESG targets as the Company: Reduced water intensity at its operated manufacturing facilities by 25.2% per kilogram produced (compared to a 2018 baseline) by leveraging innovative technologies and proprietary processes Increased the amount of sustainable1 cotton sourced from 35.7% in 2023 to 77.3% in 2024 Doubled the percentage of recycled polyester or alternative fibre and/or yarns sourced from 2023 to 2024 Achieved ISO 45001 certification in two additional facilities in 2024, bringing the total number of certified facilities to five Gildan also continued to be recognized for its ESG practices. The Company was: Included on the Dow Jones Best-in-Class North America Index (formerly the Dow Jones Sustainability™ North America Index), marking the Company's 12th consecutive year of inclusion in this index Included in the 2025 Sustainability Yearbook by S&P Global for the 13th consecutive year Included in CDP's Leadership Band in 2025 for our 2024 climate change disclosure - marking the fifth time that Gildan has achieved this recognition Named in the inaugural edition of TIME's World Most Sustainable Companies Recognized as one of Canada's Best 50 Corporate Citizens by Corporate Knights for the third consecutive year The full 2024 ESG Report and supporting indices and documents can be found here. To further enhance transparency and streamline reporting, we have included information about the Company's approach to key ESG topics on our corporate website. 1. We consider the following types of cotton to be sustainable: sustainable cotton provided through third-party verified programs that support environmental and/or social sustainability improvements and/or outcomes. Sustainable cotton from third-party verified programs includes, for example, verified U.S.-grown cotton (USCTP), Better Cotton (formerly BCI), organic cotton, recycled or regenerative cotton, and fair-trade cotton. About GildanGildan is a leading manufacturer of everyday basic apparel. The Company's product offering includes activewear, underwear and socks, sold to a broad range of customers, including wholesale distributors, screenprinters or embellishers, as well as to retailers that sell to consumers through their physical stores and/or e-commerce platforms and to global lifestyle brand companies. The Company markets its products in North America, Europe, Asia Pacific, and Latin America, under a diversified portfolio of Company-owned brands including Gildan®, American Apparel®, Comfort Colors®, GOLDTOE®, and Peds®, and under an exclusive licensing agreement for the printwear channel for Champion®. Gildan owns and operates vertically integrated, large-scale manufacturing facilities which are primarily located in Central America, the Caribbean, North America, and Bangladesh. Gildan operates with a strong commitment to industry-leading labour, environmental and governance practices throughout its supply chain in accordance with its comprehensive ESG program embedded in the Company's long-term business strategy. More information about the Company and its ESG practices and initiatives can be found at Investor inquiries: Jessy Hayem, CFA Senior Vice-President, Head of Investor Relations and Global Communications (514) 744-8511 jhayem@ Media inquiries:Genevieve Gosselin Director, Global Communications and Corporate Marketing (514) 343-8814 communications@ View additional multimedia and more ESG storytelling from Gildan Activewear on Contact Info:Spokesperson: Gildan ActivewearWebsite: info@ SOURCE: Gildan Activewear View the original press release on ACCESS Newswire
Yahoo
20-05-2025
- Business
- Yahoo
Gildan Publishes its 2024 ESG Report Highlighting Advancements towards its 2030 ESG Targets
MONTREAL, May 20, 2025 (GLOBE NEWSWIRE) -- Gildan Activewear Inc. (GIL: TSX and NYSE) ('Gildan' or 'the Company') is pleased to announce the publication of its 21st Environmental, Social, and Governance (ESG) Report, outlining the Company's continued progress against the ten targets of its Next Generation ESG strategy. 'Over the years, ESG, which is one of three pillars of our Gildan Sustainable Growth (GSG) strategy, has been foundational to support our low-cost manufacturing operations, unlocking innovative business solutions and our ability to meet changing customer and consumer needs,' says Glenn Chamandy, President and CEO of Gildan. 'Just as importantly, it has also helped us to attract and retain an engaged, experienced, and highly skilled workforce, and maintain the trust and support of the communities in which we operate. Together with our ~50,000 employees, we are committed to continue making apparel with respect.' In 2024, Gildan achieved notable advancements towards its Next Generation ESG targets as the Company: Reduced water intensity at its operated manufacturing facilities by 25.2% per kilogram produced (compared to a 2018 baseline) by leveraging innovative technologies and proprietary processes Increased the amount of sustainable1 cotton sourced from 35.7% in 2023 to 77.3% in 2024 Doubled the percentage of recycled polyester or alternative fibre and/or yarns sourced from 2023 to 2024 Achieved ISO 45001 certification in two additional facilities in 2024, bringing the total number of certified facilities to five Gildan also continued to be recognized for its ESG practices. The Company was: Included on the Dow Jones Best-in-Class North America Index (formerly the Dow Jones Sustainability™ North America Index), marking the Company's 12th consecutive year of inclusion in this index Included in the 2025 Sustainability Yearbook by S&P Global for the 13th consecutive year Included in CDP's Leadership Band in 2025 for our 2024 climate change disclosure – marking the fifth time that Gildan has achieved this recognition Named in the inaugural edition of TIME's World Most Sustainable Companies Recognized as one of Canada's Best 50 Corporate Citizens by Corporate Knights for the third consecutive year The full 2024 ESG Report and supporting indices and documents can be found here. To further enhance transparency and streamline reporting, we have included information about the Company's approach to key ESG topics on our corporate website. 1. We consider the following types of cotton to be sustainable: sustainable cotton provided through third-party verified programs that support environmental and/or social sustainability improvements and/or outcomes. Sustainable cotton from third-party verified programs includes, for example, verified U.S.-grown cotton (USCTP), Better Cotton (formerly BCI), organic cotton, recycled or regenerative cotton, and fair-trade cotton. About Gildan Gildan is a leading manufacturer of everyday basic apparel. The Company's product offering includes activewear, underwear and socks, sold to a broad range of customers, including wholesale distributors, screenprinters or embellishers, as well as to retailers that sell to consumers through their physical stores and/or e-commerce platforms and to global lifestyle brand companies. The Company markets its products in North America, Europe, Asia Pacific, and Latin America, under a diversified portfolio of Company-owned brands including Gildan®, American Apparel®, Comfort Colors®, GOLDTOE®, and Peds®, and under an exclusive licensing agreement for the printwear channel for Champion®. Gildan owns and operates vertically integrated, large-scale manufacturing facilities which are primarily located in Central America, the Caribbean, North America, and Bangladesh. Gildan operates with a strong commitment to industry-leading labour, environmental and governance practices throughout its supply chain in accordance with its comprehensive ESG program embedded in the Company's long-term business strategy. More information about the Company and its ESG practices and initiatives can be found at Investor inquiries: Jessy Hayem, CFA Senior Vice-President, Head of Investor Relations and Global Communications (514) 744-8511 jhayem@ Media inquiries:Genevieve GosselinDirector, Global Communications and Corporate Marketing(514) 343-8814communications@ A photo accompanying this announcement is available at
Fashion Network
01-05-2025
- Business
- Fashion Network
Gildan beats estimates, maintains guidance amid uncertain trade
Gildan Activewear Inc. kept its full-year guidance unchanged in the first quarter, saying it expects its low-cost apparel business to withstand a feared economic slowdown fueled by a trade war with the U.S. The Montreal-based activewear manufacturer expects revenues to grow by mid-single digits in 2025 compared to a year ago. The decision to maintain the guidance reflects an 'understanding of global trade and geopolitical environments,' company management said during a call with analysts on Tuesday. Chief Executive Officer Glenn Chamandy said Gildan gets its competitive advantage from its vertical integration and low-cost manufacturing. He added that the company sources a significant amount of cotton and yarn from the US, protecting it to some extent from the 10% reciprocal tariffs on products sourced from outside of the country. 'I think we're well-positioned overall to continue our momentum and continue taking share,' Chamandy told analysts. Gildan earned an adjusted 59 cents per share in the first quarter, coming ahead of the 57 cents expected by analysts in a Bloomberg survey. The company reported $711.7 million in net sales for the quarter. It is sticking with its forecast at a time when an uncertain economic environment prompted some other North American companies like Lightspeed Commerce Inc. and General Motors Co. to withdraw or lower their expected earnings estimates. TD Cowen analyst Brian Morrison said Gildan is poised to gain market share and expand Central American capacity, which should improve investor confidence in the company maintaining its guidance over the next two years. 'Although the industry appears to be modestly slowing, Gildan's market-share gains appear to be accelerating,' Morrison wrote to clients on Wednesday. 'We believe tariffs impact the cost structure of peers more significantly than Gildan, in turn widening its cost advantage.' The results come nearly a year after Chamandy was reinstated to the helm following a lengthy battle against the board. Once he returned, he laid out a plan with Los Angeles-based investment firm Browning West LP to boost revenue, borrow money and accelerate share buybacks to boost the stock price. Shares have gained over 50% in the span between May 2024, when Chamandy was officially named as CEO, to a February peak of C$78.42. They reversed course in the wake of tariff worries and a broader market selloff and closed at C$59.25 in Toronto on Tuesday.
Winnipeg Free Press
29-04-2025
- Business
- Winnipeg Free Press
Gildan Activewear sees Q1 profit rise to US$84.7 million, net sales also up
MONTREAL – Gildan Activewear Inc. saw its earnings rise to US$84.7 million in its latest quarter. The Montreal-based apparel maker, which keeps its book in U.S. dollars, says the first-quarter profit compared with net earnings of US$78.7 million a year earlier. Net sales for the quarter ended March 30 totalled US$711.7 million, up from US$695.8 million. On an adjusted basis, Gildan says it earned US$89.8 million in the quarter, compared with US$99.1 million a year ago. Those figures translated to adjusted earnings of 59 cents US per diluted share, flat compared with a year before. Financial markets data firm Refinitiv said on average analysts had expected adjusted earnings of 57 cents US per diluted share. During Elections Get campaign news, insight, analysis and commentary delivered to your inbox during Canada's 2025 election. This report by The Canadian Press was first published April 29, 2025. Companies in this story: (TSX:GIL)
Yahoo
22-04-2025
- Business
- Yahoo
Is Gildan Activewear (GIL) the Most Undervalued Canadian Stock to Buy According to Wall Street Analysts?
We recently published a list of the 10 Most Undervalued Canadian Stocks to Buy According to Wall Street Analysts. In this article, we are going to take a look at where Gildan Activewear Inc. (NYSE:GIL) stands against other undervalued Canadian stocks according to Wall Street analysts. As February was concluding, Reuters reported that Canada's economy showed unexpected strength in Q4 2024, with an annualized growth rate of 2.6%. Household spending in particular, which makes up over half of the total GDP, rose by 1.4% in Q4. Business investments, which were stagnant for the past 11 quarters, finally showed positive momentum with a 0.7% growth in Q4. This was fueled by a 4.2% surge in investment in machinery and equipment. On a per capita basis, real GDP rose by 0.2% in Q4, which represents the second increase in the last 11 quarters. However, recently, amidst concerns over a US-led trade war, a Reuters poll from April indicates rising recession risks for Canada, which will potentially trigger at least two more Bank of Canada rate cuts this year, despite a temporary 90-day pause on some reciprocal tariffs announced by the US. Economists have now lowered Canada's growth forecasts to 1.2% for this year and 1.1% for the next, down from 1.7% and 1.6% respectively. All the economists surveyed agree that the US tariffs have negatively affected business sentiment. Inflation is projected to average 2.4% in 2025 and 2.1% in 2026. On April 7, Steve Odland, The Conference Board president and CEO, joined CNBC's Special Report to talk about the impact of tariff-led uncertainty on CEO sentiments. Steve Odland emphasized that CEOs need clarity on numbers, costs, and the rules of the game to plan effectively. While CEOs felt somewhat positive about the general direction of the economy, the introduction of tariffs had thrown everything into confusion. Odland described the situation as chaotic because many had expected tariffs to target countries like China, not close allies such as Canada and Mexico. This move was a shock to the system and raised questions about whether the tariffs were a temporary negotiating tactic or a long-term policy change, which further complicates business planning. In a conversation regarding the expectation of certain countries to come to the negotiating table, Odland responded that some countries, including Canada and Mexico, would likely be prioritized for quick resolution due to their importance. This is because of the integrated nature of the North American supply chain, especially in industries like automotive manufacturing. The conversation suggested that if firm deals could be reached with Canada, Mexico, China, Vietnam, and Taiwan, ideally resulting in zero tariffs, business confidence would improve. We first used the Finviz stock screener to compile a list of cheap Canadian stocks that had a forward P/E ratio under 15. We then selected the 10 stocks with high upside potential of over 35%. The stocks are ranked in ascending order of their upside potential. We have also added the hedge fund sentiment for each stock, as of Q4 2024, which was sourced from Insider Monkey's database. Note: All data was sourced on April 21. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here). A closeup of a woman in a fashionable activewear outfit, grinning confidently. Forward P/E Ratio as of April 21: 11.64 Number of Hedge Fund Holders: 25 Average Upside Potential as of April 21: 48.75% Gildan Activewear Inc. (NYSE:GIL) manufactures and sells various apparel products. It provides various activewear products, such as T-shirts, fleece tops & bottoms, sports shirts, polos, and tank tops. Some of its brands include Gildan, Gildan Performance, Gildan Hammer, Gildan Softstyle, Comfort Colors, American Apparel, and Champion. In Q4 2024, net sales in the company's Activewear segment rose by 11% year-over-year, which was fueled by higher sales volumes across various channels and product lines. Gildan is capturing the market due to strong consumer response to product innovations like the soft cotton technology. For the full year 2024, if the impact of the Under Armour phase-out is excluded from the Hosiery and Underwear category, the Activewear segment's growth aligns with the mid-single-digit increase observed in that category. The expansion of Gildan Activewear Inc.'s (NYSE:GIL) Champion brand through distributors in the printwear channel is also expected to contribute to market share gains in 2025. Moreover, Gildan is benefiting from a changing competitive landscape with some players exiting the market. The company's international Activewear business has seen a substantial 20% increase in sales in the last two quarters. Overall, GIL ranks 7th on our list of the most undervalued Canadian stocks to buy according to Wall Street analysts. While we acknowledge the growth potential of GIL, our conviction lies in the belief that AI stocks hold great promise for delivering high returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than GIL but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
