Business
Gildan Reports Results for the First Quarter of 2025; Maintains Full Year Guidance
Net sales of $712 million, up 2.3% vs. the prior year Operating margin of 18.2%, adjusted ope...
About this update from Gildan Activewear Inc.
[{"type":"text","content":"Gildan Reports Results for the First Quarter of 2025; Maintains Full Year Guidance\n\n\n\n\n\n\n (all amounts are in U.S. dollars except where otherwise indicated)\n \n\n\n\n\n\n (1) Please refer to \"Non-GAAP financial measures and related ratios\" in this press release\n \n\n\n\n\n\n\n\n\n\n\n\n\n Net sales of $712 million, up 2.3% vs. the prior year\n \n\n Operating margin of 18.2%, adjusted operating margin\n \n 1\n \n of 19.0%\n \n\n GAAP diluted EPS of $0.56 and adjusted diluted EPS\n \n 1\n \n of $0.59\n \n\n Capital returned to shareholders of $62 million through share repurchases\n \n\n Company maintains its full year 2025 guidance, including the impact of tariffs\n \n\n\n\n MONTREAL, April 29, 2025 (GLOBE NEWSWIRE) -- Gildan Activewear Inc. (GIL: TSX and NYSE) today announced results for the first quarter ended March 30, 2025 and maintained its 2025 guidance.\n \n\n \"Despite the current challenging macroeconomic environment, our focus on our Gildan Sustainable Growth (GSG) strategy continues to drive results, underscored by our performance in the first quarter, including strong net sales growth of 9% in Activewear. Through the continued successful execution of our three strategic pillars— capacity expansion, innovation and ESG —we are not only further strengthening our competitive position but also driving top line growth and enhancing profitability. Our solid foundation, underpinned by our vertically integrated business model, and our operational and financial discipline, provide us with agility to navigate the current uncertain environment. We remain deeply committed to delivering long-term value for our stakeholders and to diligently executing on the opportunities that lie ahead\" said Glenn J. Chamandy, Gildan’s President and CEO.\n \n\n\n Q1 2025 Operating Results\n \n\n Net sales were $712 million, up 2.3% over the prior year, in line with previously provided guidance of low single-digit growth. Excluding the impact of the Under Armour phase-out, net sales were up mid-single digits. Activewear sales of $647 million were up 9% driven by higher sales volumes which reflected favorable product mix in North America, with a higher proportion of fleece and ring spun products. We continued to see market share gains in key growth categories and a positive market response to our recently introduc...