Gildan Activewear Releases Second Quarter 2020 Results
Last Updated On: 08/06/2020
Montreal Quebec-based supplier, Gildan Activewear Inc. announced the results for the second quarter ended June 28, 2020.
As per the reports, supplier’s quarterly sales of $230 million were down 71 percent compared to the same period last year, as the company anticipated, the effects of the widespread government-mandated closures and resulting pause in economic activity.
According to Glenn J. Chamandy, president and CEO of Gildan Activewear, “Despite the impact of the COVID-19 pandemic, we maintained a strong focus on our key priorities, including the health and safety of our employees and the long-term positioning of our business.”
Glenn, further added, “Against the challenging backdrop of the pandemic and the difficult but necessary actions we have taken, we have accelerated efforts under our Back to Basics strategy to further simplify our product portfolios, remove complexity and cost from our business, better support our customers and drive long-term market share growth.”
During the quarter, point of sales (POS) trends accomplished better than expected across all channels.Read More...