News

Gildan Reports Small Revenue Gain in Q3

Top 40 supplier Gildan Activewear (asi/56842) reported total net revenue of $716.4 million in the third quarter of 2017, which ended October 1. That’s a year-over-year increase of about 0.2%. A healthy 4.1% gain in printwear sales was offset by a 6.9% drop in branded apparel sales, the company said.

Printwear accounted for $480.7 million in net sales, a jump of $18.8 million over the same period last year. The company attributes the increase to a $15.4 million sales contribution from the acquisition of American Apparel, continued strong growth in fashion and performance basics, strong growth in international markets and higher net selling prices.

Gildan also reported that it continued to make progress with the American Apparel integration, ramping up production and successfully launching an American Apparel consumer e-commerce platform.

Branded apparel sales at Gildan were $235.7 million, down $17.4 million compared to the third quarter of 2016. The decline was mainly due to weakness in the sock category, particularly in department stores and chains, the company said.

Counselor ranks Gildan Activewear as the ninth largest supplier in the industry, estimating that the firm generated $150 million in 2016 North American promotional product sales.