Gildan Activewear Reports Fourth Quarter and Full Year 2019 Results

Last Updated On: 02/20/2020

According to Montreal headquartered supplier, Gildan Activewear Inc.’s, financial data, sales and earnings decreased in 2019.

In a financial report, Gildan said both its hosiery/underwear category sales and its activewear sales declined in 2019. The activewear segment includes sales to the promotional products industry.

Company’s sales across all its business channels were down 2.9% year over year to about $2.82 billion. Operating income for 2019 totaled $289 million, a drop of $114.2 million from 2018.

As per the sources, “The decrease in activewear sales for the year was mainly due to lower unit sales volumes in the imprintables channel both in North America and internationally, partly offset by higher sales of activewear in the retail channel.”